Employer Group Health Insurance–Are Affordable Health Insurance Plans Available For Business Owners?

Many business owners feel that employer group health insurance is too costly and will not provide any type of healthcare coverage for their workers. However, what employers may not know is that there are health insurance options for businesses which can be quite affordable.

A tax credit for small business owners is making the premium costs for health insurance more affordable when small business owners provide healthcare benefits for their employees. It’s hoped that this tax credit will prompt more small businesses to provide health insurance coverage for their workers and alter their business in a way that will allow them to do so even after the tax credit expires.

While health insurance costs are not cheap there are many employers who would argue that providing health insurance coverage for their workers pays off in many other ways. Employees often seek out occupations where there is a decent salary, but more so, they look for incentives or benefits like health insurance. Also, aside from attracting more employees, a health insurance plan from an employer can keep current employees loyal to a company longer.

Employees who must provide health insurance for themselves will incur a higher cost for doing so or if they were without health insurance may find themselves with medical bills that are insurmountable if a sudden illness or injury arises. Employers can cut these costs for health insurance if they will provide a healthcare plan for a variety of workers.

When employer group health insurance is provided for a company the insurance agencies see the risk of this policy as spread out among many individuals and it can create a more affordable health insurance plan. When an insurance company is making more in premiums than they are paying out, typically, health insurance costs can be quite affordable.

Employers are often urged to talk to health insurance agencies and seek out employer group options to provide healthcare benefits for their workers so that in the case of a sudden illness or injury their employees will be covered and not have to be shoulder the costs of healthcare alone.