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Reasons to Purchase Group Health Insurance
Posted on: May 20, 2016 by Newmark Insurance
While providing medical insurance is a must, there are some options for choosing which affordable care plan you wish to offer. In terms of employee retention and tax benefits, Group Health Benefit Plans are the way to go for many employers. Therefore, let us take a closer look at the beneficial reasons this coverage should be considered.
When an employee is in good health and has financial coverage of medical concerns, they won’t be riddled with debt from medical bills. Especially as emergency medical visits are unexpected, they can quickly exceed any emergency fund the employee may have. By providing this for your employees, they are likely to feel more valued.
Employee Recruitment and Retention.
Aside from a competitive salary and fair workplace, prospective workers want a great health insurance plan. This could give your company the competitive edge over another, so don’t hesitate to disclose this. Further, when your employees have good healthcare, they don’t put off treatment and cause more delay, damage, and long-term costs. Further, healthy employees are more engaged, less likely to become injured, and are more present in their roles.
Tax Breaks for your Business.
According to Health Coverage Guide, generally speaking, any expenses an employer incurs related to health insurance (for employees or for dependents) are 100% tax-deductible as ordinary business expenses, on both state and federal income taxes; further, employers should also be aware that the Affordable Care Act offers small businesses healthcare tax credits to help offset the cost of insurance.
At NewMark Insurance Services, we are here to assist in finding a group health insurance package that suits your employees and your company. With various partnerships with insurance companies, we are able to provide competitive rates for a broad scope of healthcare varieties. For more information, contact us today at (855) 777-6549.