WHY INSURANCE

Why Your Employees Should be Insured

Get The Best Employees And Keep Them
There are many reasons why you should provide health insurance to your employees.  First and foremost, a good healthcare plan helps you attract  and retain highly qualified and skilled individuals in today's increasingly tight labor market.  While health benefits, of course, are not the ultimate reason a person will accept a job offer from your company or choose to remain in your employ, they do play an important role in the decision process, oftentimes receiving equal consideration with other factors such as salary and location. In many instances, prospective employees will not even consider accepting a position with a company that didn't cover themselves and their families, making the level of coverage the primary issue rather than whether or not there is any health coverage at all.

Receive Tax Deductions
As an employer, you are of course concerned with the cost of providing insurance to your employees.  Remember, though, that you receive an income tax deduction for the contributions you make toward your  employees' insurance costs.  This results in your out-of-pocket expense being far less than the value of the  insurance benefits to the employee.

Increase Employee Attendance
In addition, by ensuring the wellness of your workers, insurance benefits help pay for themselves by  decreasing sick time, injuries, and other medically related work problems.  Losing a skilled employee, even  for a couple of days, can result in excessive costs for a company that far outweigh the costs of the health  premiums themselves.

Increase Employee Loyalty
Finally, employees appreciate a company that provides insurance for them. By obtaining their coverage through the workplace, individual employees are able to obtain group purchasing power resulting in lower rates.  It also makes their lives easier since the company acts on their behalf when they have to make use of their benefits – generally when they are ill and don't want to spend the time and energy sorting through paperwork and other necessities. Overall, it has a very positive effect on employee morale.

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