Employer group health insurance plans for small businesses can be quite beneficial both for employers as well as employees. A new governmental tax credit is also set to make healthcare costs more affordable for small business owners as they will be able to claim this credit on a percentage of the amount of premiums they pay.
Small business owners often don’t provide healthcare for their workers because they feel insurance plans are too costly and they are unwilling to take those costs to their business. However, many small business owners believe that there are more benefits to be gained than there are losses when it comes to providing health insurance for employees.
The cost of health insurance is expensive and has driven many people into bankruptcy. It’s for this reason that many employers have more loyal workers, have workers who are happier and feel more secure and their job, and are able to attract a higher level of talented employees when they offer a good health insurance plan.
Obviously, any small business owner that knows what it takes to expand, grow, and make their business successful will tell you that employees are a vital part of that equation. So, it stands to reason that keeping employees loyal and grateful to their employer is going to be beneficial for any small business owner.
Small business owners are being advised to see if they qualify for this tax credit, as the qualifications are listed on the IRS website, and if they are available for this health insurance tax credit they may want to talk to insurance companies about plans that may be right for them. It’s also hoped small business owners, when the tax credit expires, will have altered their business strategy so that they can afford to keep healthcare coverage for their workers.