How To Get Health Insurance For Your Small Business
If your small business is ready to shop for health insurance for its employees, here's how to get started in just five easy steps.
One of the benefits small businesses provide to employees is health insurance. If you’re ready to shop for small business health insurance but aren’t sure where to start, you’re in the right place. We’ll show you how to get health insurance for your small business in this step-by-step guide.
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How To Get Health Insurance For Small Business
There are five basic steps to securing health insurance coverage for your employees.
Why Should I Provide Health Insurance?
If you aren’t legally required to provide health insurance for your employees, you might be asking wondering if health insurance is worth the cost and hassles.
Here are just some of the benefits of offering health insurance as a small business owner.
Health Insurance Shows Your Employees They’re Valued
Humans need to be happy and healthy, and happy and healthy employees work harder, faster, and contribute more. Worries about money and health are high on the list of what creates stress in an employee’s life, but health insurance can relieve that stress and make an employee feel valued.
Benefits Keep Your Business Competitive
Employees want health insurance and are looking for businesses that offer this benefit. You need to remain competitive in the job market to recruit and maintain talented employees. Top employees may not consider job offers that come without the benefit of health insurance.
Health Insurance Helps You Save On Taxes
If you’re enrolled in a SHOP plan, have fewer than 25 full-time employees with an average salary of $56,000 or less, and pay at least 50% of health insurance premiums, you may qualify for the Small Business Health Care Tax Credit.
Even if you don’t qualify for this credit, the money you spend on employee health is tax deductible. Talk to your accountant or tax professional to learn more.
The Bottom Line On Small Business Health Insurance
While small business health insurance is an additional expense for your business, the benefits for both you and your employees are likely worth the cost. Potential tax benefits for your business and happier and more productive employees make adding health insurance as a benefit a win-win for your small business.
Want to learn more about small business health insurance? Get started with The Ultimate Guide To Small Business Health Insurance, which tells you everything you need to know whether you have a bustling business or just need health insurance for one employee. Good luck!