MENUMENU
  • About Us
  • Business Insurance
        • General Liability Insurance
        • Workers' Compensation Insurance
        • Commercial Property Insurance
        • Errors & Omissions Insurance
        • Cyber Liability Insurance
        • Hired and Non-Owned Auto Liability For Small Business
        • Directors & Officers Insurance For Small Business
        • Key Person Insurance For Small Businesses
        • License Bonds For Small Businesses
        • Fidelity And Surety Bonds For Small Businesses
        • Employment Practices Liability Insurance For Small Businesses
        • Excess Liability (Umbrella) Insurance For Small Business
        • Professional Liability Insurance For Small Business
        • Media Liability Insurance For Small Businesses
        • Commercial Auto Insurance
        • VIEW ALL
  • Employee Benefits
        • Group Health Insurance
        • Group Dental Insurance
        • Group Vision Insurance
        • Group Life Insurance
        • Group Short-Term Disability
        • Group Long-Term Disability
        • VIEW ALL
  • Who We Insure
  • Resources
  • Blog
Get A Quote
Log In
Get A Quote
Log In
888-242-4675
MENUMENU
  • About Us
  • Business Insurance
        • General Liability Insurance
        • Workers' Compensation Insurance
        • Commercial Property Insurance
        • Errors & Omissions Insurance
        • Cyber Liability Insurance
        • Hired and Non-Owned Auto Liability For Small Business
        • Directors & Officers Insurance For Small Business
        • Key Person Insurance For Small Businesses
        • License Bonds For Small Businesses
        • Fidelity And Surety Bonds For Small Businesses
        • Employment Practices Liability Insurance For Small Businesses
        • Excess Liability (Umbrella) Insurance For Small Business
        • Professional Liability Insurance For Small Business
        • Media Liability Insurance For Small Businesses
        • Commercial Auto Insurance
        • VIEW ALL
  • Employee Benefits
        • Group Health Insurance
        • Group Dental Insurance
        • Group Vision Insurance
        • Group Life Insurance
        • Group Short-Term Disability
        • Group Long-Term Disability
        • VIEW ALL
  • Who We Insure
  • Resources
  • Blog
  • InsureYourCompany.com
  • Blog
  • Company Health Insurance
  • 5 Benefits Of Providing Group Health Insurance For Small Businesses

5 Benefits Of Providing Group Health Insurance For Small Businesses

Dan Levenson October 04, 2016

5 Benefits Of Providing Group Health Insurance For Small Businesses
Company Health Insurance Employee Benefits Employers' Guide to Health Insurance Health Insurance

Running your own small business means there are many details you need to keep up with. From ordering stock and making bank deposits to hiring new employees and paying taxes, your to-do list never seems to end.

Now that your small business is off the ground, it’s time to consider offering group health insurance to your employees. While mulling over this decision, consider the cost versus the benefits of offering this program.

Here are some benefits of providing group health insurance to consider.

Attracting The Best Employees

Day to day, it’s your employees that help your small business succeed or fail. When you have a position open, you will receive tons of applications and resumes, and you’ll have to determine who would be the best candidate.

If you offer group health insurance, you stand a better chance of attracting the best candidate for the position. A person with the right experience and education has his or her choice of positions—you need to make sure that your offer of employment matches the benefits of larger companies. After all, one of the basic benefits most employees look for is affordable health insurance.

Employees Miss Fewer Days

Having health insurance helps your employees stay healthy. Using preventive care, your employees won’t get sick as often or require emergency care.

If one of your employees has a medical condition such as high blood pressure or diabetes, reliable health insurance helps them manage the condition on a daily basis with prescription medication so they always feel their best.

Also, when the occasional cold or sinus infection happens, they can see a doctor immediately, lowering the number of days of work they might miss getting better.

Tax Benefits

If your small business has fewer than 25 employees, you may find that you are eligible for a tax credit by offering group health insurance. Aside from company size, there are other criteria that need to be met as well.

Also, you can deduct the portion of health insurance that your business pays for employees’ insurance.

Your own health insurance costs are tax deductible as a business expense if your company is incorporated. Lower tax liabilities can put more money back into your business, which can go toward improvements or expansions.

Health Care Reform

In 2015, new laws went into effect regarding employers offering health insurance to their employees. If you have more than 50 employees on the payroll, you can receive an assessed penalty and be required to pay additional taxes.

Even if you haven’t reached that number yet, you want to be prepared for when you do reach it by already having the benefits in place. Additionally, there are new insurance plans available for small businesses that can save you money.

More Focused Employees

Financial strain can cause your employees to become anxious and thus less focused on work. By providing health insurance, you can reassure your employees that their health insurance is covered and that any emergency medical condition won’t bankrupt their household.

With less worries on their minds, you’ll find that they are more focused on daily tasks at work. Also, you’ll find that by offering them perks and showing concern for their stress that your employees are more loyal to you and your business.

At InsureYourCompany.com, we work with many small businesses just like yours to help find the right group health insurance. We understand that you want the best coverage at the most reasonable cost. Contact us to learn more and for help selecting the best policy for you.

The Employer's Guide To Group Health Insurance

Need business insurance?

Get a free business insurance quote today!

Subscribe To Our Blog

  • Stay up to date with the latest insurance news and business advice from InsureYourCompany.com!

Business Insurance

  • General Liability Insurance
  • Workers’ Compensation Insurance
  • Errors & Omissions Insurance
  • Excess Liability Insurance

Employee Benefits

  • Group Health Insurance
  • Group Dental Insurance
  • Group Vision Insurance
  • Group Life Insurance

Business Insurance

  • General Liability Insurance
  • Workers’ Compensation Insurance
  • Errors & Omissions Insurance
  • Excess Liability Insurance

Employee Benefits

  • Group Health Insurance
  • Group Dental Insurance
  • Group Vision Insurance
  • Group Life Insurance

Small Business Resources

  • Business Insurance Blog
  • Get a Free Insurance Quote
  • Schedule an Assessment
  • Insurance for Businesses 101

InsureYourCompany.com

225 Gordon’s Corner Road, Suite 1H
Manalapan, New Jersey 07726
888-242-4675
Privacy Policy | HIPAA Policy | Contact Us
Created by potrace 1.15, written by Peter Selinger 2001-2017

Copyright © 2023 - InsureYourCompany.com, powered by Technology Insurance Associates LLC

Custom website design and development powered by the New Possibilities Group.

888-242-4675
Get a free quote