What Health Insurance Means for a Small Business Owner?

Health Insurance for Small Business Owner

Researching health insurance for a small business owner is easy…said no business owner ever!  Shopping for carriers as well as deciding on deductibles and copays is a daunting task. Even if you are lucky enough to decide on a group health insurance plan, you do not look forward to the administration and costs associated with it. Yet according to a recent National Small Business Association report, 68% of small businesses offer some sort of health insurance coverage to their employees. Since it seems difficult to offer coverage, you may ask what health insurance means for a small business owner and how can it help them? I think it means two things to a small business.

First, the main reason to offer health insurance for a small business owner is to attract and retain employees. Quality employees. Employees who appreciate quality group health insurance and are willing to stay with your firm to keep it. Let’s face it, the pool of available talent has been shrinking with record employment numbers. You need to be able to compete with other businesses in attracting the limited number of qualified employees. One of the best ways to do that is by offering a quality group health insurance program.

Second, providing health insurance for a small business owner provides for a healthy workforce. It makes sure that if an employee falls ill, there are adequate resources available to make sure that employee gets the help they need to get back to work quickly. Small business health insurance plans include preventative health care, meaning it covers annual physicals and health screenings. Many also cover dental or vision care as well. This helps to keep employees healthy, and in turn cuts down on loss of work hours and maintains productivity.

The good news is many of the concerns about finding health insurance for a small business owner are untrue. Why? Because a small business owner can use the free services of a group health insurance broker to help assist them! You read that correctly, a small businesses health insurance broker works for you for no cost. As an example, a NY Health Insurance Broker costs nothing to use, is paid directly by the insurance company which you decide to use and does not increase the premium you pay! Since they work for you, they are free to shop around each year for the best deal. Unlike health insurance companies that only offer you renewals with their own products, a NY health insurance broker is free to find the best deal for you each and every year.

Offering health insurance for a small business means being able to attract and maintain quality employees. It means you appreciate your employee’s health and well being by offering insurance to keep them healthy and productive. It also means you are making sure your company remains viable and competitive with the 68% of other small businesses who are trying to steal your employees away.