The Benefits of Health Insurance

Workers today don’t view benefits as a perk, they’re an expected part of their compensation package. And the crown jewel of any benefits package is health insurance.

Here are the top 3 reasons why you should offer health insurance to your employees:

1. Retain and Attract Qualified Employees

A recent Metlife study found health insurance to be the most important benefit that workers look for when applying for a new job. It’s time to stop thinking of health insurance as a negative cost to your company and start thinking of it as a long-term investment that will pay off ten-fold by acquiring and retaining the kind of top-level talent who will help your company grow.

2. Tax Savings

Contributions that you make to your employees’ health care premiums are considered a business expense, which means you can deduct the cost of those premiums from your federal business taxes.Plus, if you’re working on public projects, the fringe dollars can minimize the impact of medical premiums to your operational bottom line.

And, if you’re a small business, you could qualify for the Small Business Health Care Tax Credit that’s worth up to 50% of your premium costs.

3. Getting Insurance is Easy  

The process is A LOT less complicated when you have a dedicated broker (like Beneco!) who can lead you through the entire process. First, we’ll help you select a plan that’s right for you and your employees. After that, we’ll set it up and keep you compliant. Pretty easy, right?