There are obviously many benefits an employer can reward employees with. However for Health Insurance beats them all.
REASONS COMPANIES SHOULD OFFER HEALTH INSURANCE TO EMPLOYEES
- It’s easier than you think to offer health insurance: Scaling Minds Insurance offers you an end to end guide on the process. We guide you based on our experience with various providers and ensure that we impute on how you experience their services at all customer touch points. We help you select a plan that’s right for you and your team, based on your industry and the coverage preferences of all the folks in your company. We set you up and throughout the policy period: offer end to end support and advise.
- Health benefits make your employees happy: Employees play an integral role in your company. Their happiness can therefore never be overlooked. According to a survey by Glassdoor, employees said health insurance is, by far, the most important benefit they receive from their employer. That’s why employers should offer health insurance as their first company benefit, then add on additional benefits over time.
- It saves you money on taxes
Here are all the tax savings you get by offering group health insurance:
- Employer contributions are tax-deductible
- Employer workers compensation premiums are reduced
- Paying for health benefits instead of higher salaries can save you money because you don’t pay payroll taxes and workers compensation premiums on money used towards health benefits. Plus, your employees may prefer benefits over salary as well. According to that same Glassdoor study, nearly 80% of workers said they would prefer new or additional benefits to a pay increase.
- Boost Employee Productivity
As an employer, you want your employees to focus on being their best productive and successful selves at work. Worrying about health insurance drains their energy and time. As you know, health insurance can be a pain to set up. And if your employees are enrolled in individual plans, all of that burden of setting up and managing their plan shifts from you to them. Employees who prioritize preventive care—like regular checkups—get more accomplished at work thus necessitating the need for this benefit
