Group and Business Insurance

Benefits of Group/Business Health Insurance

1. Increased Employee Retention and Satisfaction:

Business health insurance can help attract and retain talented employees, since competitive benefits packages are highly sought after in job searches. Offering health benefits can result in increased employee satisfaction, which can lead to higher productivity and morale.   

2. Tax Advantages:

Businesses that provide health insurance to their employees may be eligible for tax credits. Depending on the size of the company, the tax credit can be up to 50% of the employer’s contributions.   

3. Improved Employee Health:

Employees who have access to health insurance are more likely to receive preventive care and manage chronic medical conditions than those without health insurance. This can lead to improved overall health for employees and increased productivity for the company.   

4. Reduced Stress:

Providing health insurance can help reduce employee stress, since the financial burden associated with medical costs can be alleviated.   

5. Increased Productivity:

When employees are healthy and have access to preventive care, they’re less likely to miss work due to illness. This can lead to improved productivity and fewer absences.   

6. Increased Company Savings:

Business health insurance can help companies save money in the long run by reducing absenteeism, turnover, and disability costs.   

7. The Affordable Care Act:

Certain businesses with 50 or more employees must provide health insurance to their employees or face financial penalties. Offering health benefits can help companies stay compliant with the Affordable Care Act.