As a small business owner, you likely often face many unique challenges that can lead to a lot of stress. In fact, a survey revealed many small business owners feel that hiring employees is one of the biggest challenges they face. Small businesses do not have the same funds and resources as larger corporations, so hiring good employees can seem like a chore. Fortunately, group health insurance can provide benefits that are appealing to potential employees.
Health Insurance Means Happy
A quality insurance plan can provide access to health and wellness benefits, which can draw the attention of potential employees. In fact, it is said that 70% of employees who have access to a wellness program report having more job satisfaction than those who do not have access to a program. Employees who have access to a wellness program are also less likely to use sick days or request time off from work.
Another study determined that employees value health insurance above any other benefit provided, including vacation time, paid time off, and pension plans. Furthermore, employers have admitted that offering health insurance seems to lead to higher levels of productivity in the workplace. Although small businesses with less than 50 employees are not necessarily required to provide insurance, the benefits of doing so are undeniable.
Understanding Group Health Insurance
Group health insurance is a type of insurance purchased by small business owners such as yourself. It covers the cost of medical care for your employees. While it may seem like an added expense, it is important to remember that group health insurance can help save you money.
Should one of your employees suffer from an injury while at work and require hospitalization, the group health insurance plan you have will cover those expenses, meaning you don't have to worry about spending an exorbitant amount out-of-pocket. In fact, group health insurance is often geared toward small to medium-sized businesses, which is why you will frequently find that they are more affordable than you might think.
If you would like to improve the quality of your business to become more attractive to potential employees, consider talking to a provider of group health insurance policies such as SCI & Associates. An expert can help you select a plan that works best for you based on the size of your business, how many employees you have or plan to have, and your overall budget. Further, an expert can answer any questions or concerns you might have.