Employer Group Health Care–Small Businesses Seek Health Insurance For Employees

In past months, a tax credit was made available for small businesses who provide health insurance for their workers. The cost of health care has become so expensive that many individuals can no longer afford to pay the costs of medical treatment out-of-pocket nor can many afford the costs of insuring themselves.

Small businesses are in a great position to provide affordable small business health insurance for their workers, seeing as how employer group health insurance can be a very cost-efficient way which workers can gain coverage in the case that an unforeseen illness or injury arises and medical treatment is needed. Many employers feel that the cost of providing this health care for their workers is too expensive, but any business owner who has concern for their employees may find that this is not the case.

For instance, under an employer group health insurance plan, individuals with pre-existing conditions cannot be denied health care coverage. At worst, they may have to go through a waiting period, usually no more than a year, before their pre-existing condition will be covered. Also, when an employer insures a large group of people the risk that a health insurance company must take on is lower, and this can make premiums less expensive.

The health care tax credit for small business health insurance is still available and many small businesses have been able to claim this credit on the amount of money they paid in employee health insurance premiums. It’s been hoped that this tax credit will prompt more small business owners to look into providing health care coverage for their workers and, after the tax credit expires, taking on these costs which can be beneficial down the road.

Workers who are provided health insurance often stay more loyal to their company and companies that provide health insurance plans can attract a higher caliber of worker in the future. Many people believe that by providing health insurance benefits for workers a company can not only profit by keeping and recruiting employees, but these workers will, obviously, help their business grow and become more profitable down the road.