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Why Small Businesses Should Offer Health Insurance



As many small business owners in Kentucky know, they are not subject to the Federal employer mandate that requires Applicable Large Employers (ALEs), employers with 50 or more full-time equivalent employees, to offer health insurance to their employees. Yet, small businesses that don’t offer health insurance may be missing out on a big opportunity.

If you are a small business trying to recruit and retain good employees you may want to consider offering some common employee benefits primarily health insurance. Studies consistently show that health insurance is the primary benefit valued by employees. There are several good reasons.

It helps recruit and retain top talent.

Given that many economists are in agreement that the economy is in full employment, recruiting talented employees becomes more difficult and costly to small businesses as positions go unfilled and business production stagnates. Employees today expect employers to offer some kind of benefits, so it would be in a small business’ best interest to offer the most sought-after benefit to attract potential employees. In addition, with the increasing costs of medical care employees are looking for relief.So, if your competitor offers a nice health insurance plan you may find good employees running towards the exit.

Employees are more productive.

It’s no secret that a healthy workforce is more productive than an unhealthy one. Health insurance can help employees get the care they need quicker and more efficiently thus allowing them returning to work sooner and missing fewer days throughout the year. All of these affect a company’s bottom line.

Increases employee morale

By investing in a health insurance plan for your employees you are showing appreciation for and an interest in the well-being of your employees. When employers invest in their employees their employees usually do the same in kind.

Offering Health insurance is a good start to having a happy and loyal workforce, but there are other benefits that employees also highly value including dental, vision, disability and life insurance. Deciding which benefits to offer can be time consuming and confusing at times. That is why we recommend working with a licensed broker/health agent who can help you navigate the complexities of employee benefits, thus freeing you up to concentrate on what’s most important, your business.


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