Employee benefits have become an increasingly important part of the modern workplace. These programs can provide your workers with additional incentives and compensation beyond their salaries and wages. Employee benefits may also be integral to maintaining their health and wellness. With that in mind, it’s no surprise that one of the most common and essential components of an effective employee benefits portfolio is group health insurance.
What Is Group Health Insurance?
Group health insurance provides the members of an organization, such as employees at your workplace, with the opportunity to affordably access critical medical services. An effective group health plan may help your workers pay for preventive care, regular checkups, hospital visits and procedures. Conversely, if your employees lack adequate health insurance, they may not be able to receive the care and attention they need.
Your employer-sponsored health plan allows employees to secure financial assistance for their health care needs. Generally, these arrangements may also be available to eligible employees’ spouses and dependents, depending on the policy.
What Are the Benefits of Offering Group Health Insurance?
Your employees are among your organization’s most valuable assets and helping them maintain their health and wellness should be a top priority. With that in mind, group health insurance plans may prove to be an invaluable investment by providing the following advantages:
- Cost-effective coverage—Employees who enroll in your group health policy may be able to enjoy coverage at lower rates than they would otherwise be able to find on the public marketplace.
- Boosted productivity—When employees are given the resources to maintain their health and wellness, they may be better able to maintain optimal levels of productivity while limiting their absences.
- Improved attraction and retention—Providing your workforce with quality health insurance may help you retain key employees and differentiate your organization from competitors seeking top candidates.
- Financial incentives—Offering group health insurance may provide your organization with access to tax incentives. In addition, providing access to coverage may help you avoid financial penalties related to the Affordable Care Act, as applicable.
Get the Right Coverage
With extensive knowledge and experience assessing and addressing our clients’ health insurance needs, the dedicated staff at Wimmer Insurance Services are well equipped to help your organization understand the value of group health plans. Our agents will thoroughly and meticulously analyze your organization’s circumstances and recommend an ideal group health plan. Visit our website or call 218-847-5703 to get started today.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.