Health insurance has been a big topic over the past few months and even before the national health care bill was being debated, healthcare was an important factor in the lives of many people. Recently, a tax credit was made available for small business owners who provide their employees with a health insurance plan.
Employer group health insurance is something that many small business owners may not consider because they worry about the costs, however, this new tax credit is going to make providing healthcare for workers more affordable and it’s hoped that business owners will see that healthcare insurance has benefits that outweigh the cost of coverage.
Insurance premiums are going to be covered up to a certain percentage thanks to this new tax credit, so business owners who qualify are being prompted to contact insurance agencies so that they might be able to formulate an employee healthcare plan. Many employers worry that the cost of providing employee healthcare is going to cause more trouble than it will bring benefits, but there are business owners who would argue against this idea.
In terms of numbers, providing healthcare for a business’s employees is going to extend the risk over a larger group of people, which will be less costly than simply paying for a health insurance package for one or two workers.
Also, and this depends on how much a small business owner values his or her employees, workers are more likely to stay loyal, work harder, and remain with their company longer when they know that they are covered by their employer in case of illness or injury.
Healthcare is not cheap, yet any employer who wants to provide an insurance plan for their workers should be able to find a plan that is going to be able to not only provide coverage for their workers in case they are in need of healthcare, but also a plan that is going to be affordable down the road.
While the tax credit will be helpful for while, employers should use the time in which they get assistance to pay the premiums of health insurance for their workers through this tax credit to alter their business in a way that will allow them to keep healthcare for their workers permanently.