March 25, 2019 | Mason Roberts

Why Should You Offer Health Benefits?

Many times, when employees are deciding between taking a job opportunity or not, health benefit can be a big deciding factor. If you are a business owner, you do not want to miss out on a great employee, who can possibly change your business in a fantastic way because of the poor health benefits you are offering. Health benefits are very important to all employees, especially if they have families to worry about as well as themselves.


Woman thinking of health benefits for business.


Many business owners tend to wonder why they should offer health benefits to their employees. There are countless bosses out there who do not offer much to their staff, which can make them suffer overall, depending on the consequences that come along with it. So, you may be wondering, why you should choose healthcare benefits for your loyal employees?


When owning a small business, you are more than likely worried about the money aspect of health insurance. Because you own a small business, you may want to nix health benefits in order to stay in budget. After all, it is extremely important to have good savings in your small business account.


A business owner should come up with a way to offer their employees benefits, as well as staying within budget. Employees need insurance. Here are several more reasons as to why your small business should offer health benefits:

1. It’s The Law

If your business has over 50 full-time employees, it is the law to offer your staff benefits. If this is the case for your business, you must provide your employees with an average priced health insurance package.


This has become law in reaction to the Affordable Care Act. Being aware of this can help your business from potentially going under. You can get in serious trouble if you do not follow this law, which may result in you losing employees, maybe even losing your business.


2. You Will Receive Tax Credit In Turn

Offering health benefits also help you in a way that you wouldn’t think. After purchasing small business healthcare for yourself and your employees, you may be able to receive tax credits in exchange. In order to be a candidate for this option, you must make a plan through a section of the ACA (Affordable Care Act).


In order to qualify for such an option, you must meet some requirements. When researching this, make sure that you are a viable candidate, like having less than 25 full-time employees and offer health insurance to all employees on their payroll.

 Man counting savings from tax credits.


3. Group Coverage Advantage

Group healthcare coverage is a better option for some businesses, in comparison to an individual health plan. Many times, small business are the ones to offer group healthcare packages. They tend to want to take advantage of the positives which come along with such an option.


Group coverage varies from individual coverage because it is offered to active employees and whoever is on their dependent list. Group coverage can be different from state to state. Some states have different restrictions on the number of people allowed in group coverage. It is a good idea to research what your state regulations are to see if it is possible for you to purchase group coverage.

4. Better Employee Satisfaction

Health benefits are a big thing that people consider when deciding whether to take a job or not. Whether your business is big or small, chances are that most of your potential employees will apply for a position expecting some kind of benefits to be offered, especially if they are responsible for more than just themselves. Offering health benefits to your employees will show them that you care for them. This should, in turn, help them become motivated to be a good standing employee in your place of business. If you show your employees you care for their well being, the chances of them pushing harder to help your business become a success are high.


5. Healthy Employees Are Better Employees

If employees do not have health insurance, they are less likely to take care of themselves, as they will have to pay out of pocket for a checkup. If they are sick, they are more likely to ignore it and just suffer through it. This will lead to employees working less and less. They will work less hard and have to take more days off from work. If you purchase health insurance, you will overall help your employees, as well as yourself.


6. Make Sure You Are Secured Even If Self Employed

It is a good idea to that no matter the type of business you are in, you should invest in health insurance. Even if there are no other employees but yourself, you should still invest in healthcare benefits. This is something that can potentially help keep you safe. If you are in a situation where you need a doctor immediately, you can depend on the fact that you have insurance to fall back on. Regardless of the situation you are in, you should help yourself out as much as your employees should be helped out.


Health insurance is an important, vital part of owning a business. As a business owner, you should make sure your employees are covered. If you have a dependable, hard-working staff then they deserve that much. They should be treated with decency, where they have health benefits to fall back on in the face of an emergency.


As much as you should take care of your employees, you should also take care of yourself. Make sure you are covered. This is not something to be taken lightly. When it comes to health insurance, there are many positive aspects that should out way the negative aspects in the eyes of a business owner. Following deciding on offering health benefits, you must evaluate different types of plans and decide what is deemed appropriate for your staff. This could be a real game changer for your small business.