Risk & Business Magazine Nesbit Agencies Spring 2017 | Page 7

The Many Advantages
Of Offering Group
Health Plans
F
or many businesses, the idea
of offering a group health
plan is never discussed. The
thought of it brings to mind
the high cost of health care
which, it is assumed, would be an
additional major expense for employers.
Fortunately, that is not the case. Not
only do employees see myriad benefits
from the implementation of group
health plans, business owners do as well.
Group health plans are policies made
available through businesses to
employees and their family members.
This results in more affordable
insurance for employees and increased
employee productivity for employers.
Too often, however, employers only
look as far as the cost of the plans and
don’t consider the tangential benefits
that these plans provide. In reality,
they should be looking at the benefits
from all angles, including the idea that
employees will be more productive
and absent less often due to illness.
First, some of the benefits to employees:
•
• Better access to the care they need
• Less downtime wh en sick and
increased quality of life
• Heightened job satisfaction
because employees who are
Substantial savings when compared
to most individual health plans,
even those offered through state
health insurance marketplaces
offered health care plans become
aware that their employer
cares about their well-being
Next, review the not-so-obvious
benefits that group health plans
provide businesses that offer them:
•
Offering health insurance will help
you recruit (and retain) high-quality
employees and make your business
an attractive place to work.
“GROUP HEALTH
PLANS ARE NOT
OUT OF REACH
FOR YOUR
BUSINESS, AND
THEY DEFINITELY
PROVIDE BENEFITS
TO BOTH YOU
AND YOUR
EMPLOYEES.”
• There are decreased risks
of absenteeism and other
negatives associated with poor
health. Healthy employees are
happier and less stressed.
• The atmosphere and morale of your
office will be dramatically improved.
•
Tax credits of up to 50 percent
of health plan premiums paid
are available to small businesses
(those with fewer than 25 full-
time-equivalent employees)
that offer group health plans
that meet certain criteria.
Group health plans are not out of
reach for your business, and they
definitely provide benefits to both you
and your employees. You will need to
understand the laws and regulations
regarding businesses and health care
insurance. And ultimately, you need
to look further than simply the cost
of the plans, as their many benefits
will certainly make your business
a more attractive place to work!
If you are thinking of offering a group
health plan for your employees or would
like more information on how a group
health plan could benefit your business,
please contact Larry Eastman at 952-
746-4378 or LEastman@nesbitagencies.
com and schedule a consultation today. +
Larry Eastman is a Producer at Nesbit
Agencies and works in all facets of Life
& Health as well as Property & Casualty
Insurance. He has over 25 years of
sales experience with companies of all
sizes, both regionally and nationally.
Larry can be reached at leastman@
nesbitagencies.com or 952-746-4378.
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