Just because you have a small business does not mean you can get by without offering your employees perks typical of bigger companies. It has become easier than ever for smaller companies to offer health insurance, but knowing how simple it can be to provide your team with benefits might not be enough to persuade you. Here are five solid reasons you should offer your employees health benefits.
1. Your Employees Are Sure to Be Happier
When your employees are happy, their work often benefits from their uplifted mood, and few things are more uplifting than having employee benefits. Often, employees put more of their focus on their benefits rather than their salary. While you might not be able to offer your employees the same salary as a bigger company, they might not care as much if they like your company culture and the fact that their health is in good hands.
2. Health Insurance Is Good for Overall Productivity
When it is easier to visit the doctor for a checkup, your employees make themselves aware of health issues of which they should take note, health issues that might make them miss work in the future. Preventative care is essential for maintaining productivity, so help your employees help themselves to better health.
3. Benefits Can Be Tax-Deductible
You will likely have several different health insurance plans to choose from, but opting for a group plan that covers you as well as your employees might be your best bet. This is because the cost of such plans is tax-deductible and classified as a business expense. That being said, you will likely want to work with an experienced accountant who has worked with small businesses in the past to ensure you handle your tax paperwork correctly.
4. You Can Catch the Eye of Better Employees
One of the best ways to take your business to the top is to recruit leading talent that might otherwise be snatched up by a bigger company. By offering health insurance, you have a better chance of attracting well-qualified employees who can help your business grow.
5. Employees Have More Options for Hospitals and Doctors
The offering of hospitals and doctors under group health plans is often more generous than those under an individual plan. This means your employees have more options for the type of treatment they receive and who administers that treatment when it is time for them to use their coverage.
For more information on how offering health insurance is great for small businesses and employees alike, contact Sackett & Associates insurance Services here. You are also free to like us on Facebook, find us on LinkedIn and subscribe to our blog.