Employee benefits packages can include many components. While the details of an optimal collection of incentives and programs vary among employers, an attractive health insurance plan should be a top priority. Although employer-sponsored health insurance can be a complicated subject with a wide array of options to choose from, your business should invest sufficient time and resources into composing your plan. Doing so may unlock the following benefits for your workplace:
- Improved employee satisfaction—By providing your workforce with sufficient health insurance, your employees will have access to the medical care they need. They may also feel like your business has their best interests in mind. In fact, according to a survey by Glassdoor, health insurance has the highest correlation among employee benefits when predicting workplace satisfaction.
- Increased productivity—Employees who can access the medical services they need are less likely to miss work due to injuries or illnesses. Furthermore, good health insurance can help ensure that employees are at peak condition and able to maintain optimal productivity levels.
- Easier recruitment—For many prospective employees, a company’s employee benefits package may be just as important as salary. In today’s labor market, employers must strive to separate themselves from the competition in any way possible. Offering an attractive health insurance plan may help your business tip the scales in its favor as a candidate weighs their options.
- Better retention—In addition to attracting new employees, good health insurance may also play a pivotal role in retaining current talent. In the wake of recent employment trends, such as “The Great Resignation,” it’s crucial for your business to do everything possible to convince your best workers to stick around.
- Valuable savings—Employer-sponsored health insurance can have financial advantages for your business and its employees. Many workers may be able to acquire coverage for lower premiums by being part of a group health plan. In addition, your company may be able to take advantage of various incentives related to offering health insurance, such as tax-deductible contributions.
Get the Right Coverage
In addition to the aforementioned benefits, many employers may also need to offer a group health plan to maintain legal compliance with the Affordable Care Act. The experts at Wimmer Insurance Services can help your business assess its legal obligations and explore the various health insurance options available to you.
Visit our website or call us at 218-847-5703 to get started.
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.