The American Government had arranged directives to businesses in providing affordable and fair health insurances to its employees. Before 2010 or the Affordable Care Act year, giving health insurance to employees barely depends through the decision of the employer. In present times, you, as an employer should abide with the laws about providing our employees benefits such as health insurance.
As a business who have people to work for the company, it is important that you take care of your people’s health, for their strength is what they really give to your company. Health insurance isn’t compulsory for a company with less than 50 personnel, though you can always provide them with it. In most cases, almost all companies are giving health benefit for competitive reasons.
On the other hand, those companies with more than 50 employees are required to give its personnel health insurance of any kind.
But maybe, you just don’t realize yet, that offering your personnel with health insurance can give you benefits as well.
- Giving of health insurance to your working personnel gives your company an extra-ordinary appeal that would surely catch consumers and even investors. This just means you’re a step higher than some who don’t offer much benefit.
- If you’re getting a group plan, then you can less its tax from the business’ expenses and the good part is you can be included to that group health insurance plan, so you can save some cash in your own healthcare.
- Get high-deductible plan with health savings account and then your premium rate will be lower. This insurance strategy is a very big bonus. You get discounted for a premium for choosing high-deductible plan and with health savings account, which you can practically use for your future’s sake.
- Affordable Care Act law extends the time duration of submission of requirements for employers who uses health reimbursement account to help their employees avail health insurance.
- More discounts are available in group health insurance than in individual plan.
- Your employees are aware that every single one of them has been taken care of and also their families and for this reason, productivity increases and the outcome turns out to be excellent.
What I realized about deciding on to provide or not to provide health insurance, is the importance of a sincere environment among the employer-employee relationship. If neither of the two parties care, then, it’s easy to say that there’s no coordination and the business will just be unsuccessful.
It’s undeniable that employees who benefit from the company’s health insurance but so as the owner and the business, itself. This is a fact that many employers should realize and reconsider. Like you, they are also humans and they also worry a lot about their health.