Over 44 million Americans do not currently have health insurance. With such a high number of people not receiving proper medical care, it is time that we think of creative solutions to help fix the problem.
The benefits of small group insurance cannot be overlooked! The group insurance benefits are perfect for small businesses looking to provide employees with the insurance they need.
Let’s take a look at the top three benefits of small group insurance!
1. Acess to Larger Pool of Doctors
When signing up for a small group insurance plan, your employees will have access to a more extensive network of doctors and specialists. Individual plans are more limited when it comes to selecting a doctor within the network.
That is an especially convenient benefit for employees who commute for work. Having a broader network of doctors to choose from helps them to have access to care both near work and near their homes.
2. Tax Incentives
Employees enrolled in a small group insurance program will have the convenience of their insurance withdrawn from their paychecks before taxes. Additionally, many plans offer employees the option to sign up for a Health Savings Account or HSA to pay for services.
As far as the employer’s benefits are concerned, the small group insurance options offer tax incentives for them as well. Employers may be eligible for a small business health care tax credit. To receive the credit, the employer will generally offer to pay part of the employees’ insurance premiums.
3. Perks and Benefits
Certain essential health benefits are often only available in higher-tier insurance packages when dealing with an individual plan. However, with small group insurance, essential benefits like an emergency hospitalization and preventative care are fully or partially covered.
With a small group insurance plan, these benefits are available to employees at a much lower deductible and a lower out of pocket cost. Employees will be able to get much better care and save money with a small group insurance plan.
Additionally, with small group insurance, there are often wellness incentives included with the plans. These incentives can include things like nutrition counseling or step-tracking programs.
The Benefits of Small Group Insurance
It is easy to see why you should choose to have small group insurance for your business. The benefits of small group insurance are good for the employees and the employer. Studies have shown that employees work harder when they feel a company provides for them.
Giving your employees access to the care they need will mean fewer sick days and happier employees that want to work hard for the company. Small group health insurance is good for everyone involved, and in the end, it could save you money.
We would love to connect further with you! If you would like to learn more about health insurance options for you or your business, click here today!