Learn the advantages of group health insurance

Health insurance consistently ranks as one of the most important benefits among employees and job seekers alike. Offering a group health plan can help you maintain a competitive advantage over other employers especially in a tight job market.

When workers are worried about how they're going to handle a medical problem – or pay for it - they can become stressed and distracted at work.

Offering group health benefits can help your employees to stay healthy,and stay on the job with fewer absences due to illness. It also offers them peace of mind knowing they can afford care if and when they need it.

The decision to offer employee health benefits often comes down to a matter of cost. Many small business owners overlook that the premium – the amount paid to the insurance company each month for coverage – is typically shared by the employer and employees. There are also tax benefits to offering benefits. Generally speaking, an employer’s contribution to employee health insurance is a tax-deductible business expense.

Your accountant can explain how deductions help offset the cost, potentially making benefits more affordable than you may think.