As a small business owner, you may be wondering whether you should offer health insurance to your employees or not. According to health insurance company in Florida, offering health insurance for small business provides significant advantages and cost savings for both small business owners and their employees. When you decide to offer small business health insurance can be a big decision for any company, and you may have certain doubts about it. With the help of health insurance agents Florida, you can simply relax and clear your every doubts or question regarding the insurance. Benefits #1 50 or More Employees- It Is A Law! If your company has 50 or more full-time employees, then you must have a group health insurance under the Affordable Care Act. “Affordable” health coverage. This means that employee’s annual cost can be no higher than 9.86% of their annual income in 2019 #2 Group Coverage Is Better Group health insurance plans for small businesses offer you certain advantages compared to an individual health plan. You can split the premiums with employees or cover the entire premium, depending on your budget. The insurance company will gather some basic information about the group members like age and so on before explaining your plan options. #3 Healthy Employees-Productive Employees Employees without health insurance are less likely to get yearly checkups or visit the doctor when sick. This leads to a fall in productivity when they become sick and have to take more time off from work. Then they focus on saving money and this may lead to hurting your bottom line. #4 Promote a Healthy Culture Encourage your employees that their health is important to you by creating and promoting wellness initiatives, positive culture, and offering health coverage. #5 Tax Incentives According to the Affordable Care Act (ACA), the small business health care tax credit provides incentives for small business owners to offer health insurance to their employees. Health insurance Agents Florida can help determine if you qualify for a small business health care tax credit, because the government may give you a tax credit to help you pay for your portion of employee premiums. #6 Pre-tax Benefit Another benefit of providing small business health insurance can be more after-tax money available for workers. #7 Lower Premiums When you consider a group health insurance, they tend to be cheaper on average than individual plans. Alongside having many benefits, it fits your pocket too! Also Read: 5 Benefits of Buying Health Insurance from Health Insurance Brokers
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AuthorFL health brokers is a Florida based health insurance brokers which offer affordable health insurance to their customers. Archives
January 2020
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