About Me

Insure Your Health, Insure Your Future

Medical insurance can be expensive, which means buying it is not always fun. But think about what you get when you buy medical insurance. You don't just get more affordable access to your doctor. You're also more likely to remain in good health as you age. You're far less likely to have to empty your wallet for a medical emergency, too. What it all comes down to it is this: medical insurance is a good idea, even if it costs a bit more than you'd like. Read more about medical insurance here on this blog. We have all sorts of insights to share.



Insure Your Health, Insure Your Future

Why Should Small Businesses Provide Group Health Insurance?

by Vincent Evans

As a small business, you might not have to provide your employees with group health insurance. However, there are some benefits to setting up coverage voluntarily. What are they?

Improve Recruitment and Retention Rates

Small businesses sometimes struggle to recruit and retain employees. Larger companies might be able to pay people more than you can afford right now. Plus, some people will move to larger companies to access better benefits, especially when they settle down and start a family.

If you provide group health insurance to your employees and their families, then your company becomes more attractive to new hires. Even if you can't compete on a salary basis, people know the financial value of health insurance. Good coverage can go some way to convincing people to work for your company.

Your employee retention rates should also improve. People are happier working for companies that look after their medical needs. They might think twice about changing jobs if new employers don't offer health insurance; they might not want to lose the benefits you provide.

Boost Productivity and Attendance

If you don't provide group health insurance, and employees don't have their own coverage, then you could run into productivity and attendance problems. If an uninsured employee has a medical problem, then they might not be able to afford to see a doctor or to get the treatment they need.

Someone with an untreated illness, condition, or injury might still come to work every day. However, their productivity levels might dip. You can't work to full capacity if you feel ill. Plus, if you're anxious about your health, you can't necessarily focus on your job.

People might also take more sick days if they can't access medical help easily or quickly. You could be left short-handed if one of your employees can't work because they are ill for longer than they need to be.

A group health insurance policy enables your employees to access the medical help they need. They can see doctors and have treatment faster. You'll help keep them in good health, and you'll reduce unnecessary sick days.

Access Tax Credits

While you have to pay for group health insurance, your costs might not be as high as you think. Small businesses sometimes qualify for state or federal help with these costs. For example, you might be able to claim some tax credits for the payments you make to your plan.

To find out more about the advantages of setting up a group health insurance plan, contact medical insurance providers.