As a small business owner, you will do whatever it takes to cut your expenses.
However, you never want to cut expenses that have an attractive return on investment or make it easier to recruit high-quality employees.
In todays economy, many small business owners have weighed the costs and benefits of cutting employee health coverage.
As tempting an option as this may be, it goes against your long-term interests to pursue this avenue.
Small business employee health plans are key to attracting and maintaining your greatest asset: your employees.
This post will go over why your small business must offer employee health coverage and the key benefits that employee health coverage will bring.
Having a significant portion of health expenses paid through an employers health benefits package is a great comfort for many employees and can go a long way toward helping your business attract the cream of the crop.
Group health coverage doesnt have to drain your businesss funds. The best group health packages can even provide your small business with a sizable return on investment.
Here are some of the top perks a group health plan can provide your small business.
The best and most sought-after employees often have the advantage of negotiating job perks and benefits.
If an employee is deciding between two jobs, the position with superior benefits will often help tip the scales.
Beyond recruiting new employees, when you have superior health coverage, your existing employees will be more satisfied with their current position and they will be more likely to work hard.
Workers often place higher value and feel more favorable about jobs and employers that provide excellent health benefits.
Healthy employees are present and more productive. If you allow your health benefits to slip, then employees are more likely to get sick, and they are more likely to get sick longer than those employees with superior coverage.
The Affordable Care Act helped reduce medical expenses for thousands of Americans, however, for some, it raised the costs of medical coverage. By offering your employees group health coverage, you could save them thousands of dollars per year. Thats a benefit much more valuable than a pay raise.
Spending time and effort searching for health coverage on healthcare.gov or a state-sponsored online health exchange can be confusing and cost valuable time. When you offer group health insurance, your employee can choose your plan and save themselves the struggle of searching.
If you run a Southern Ohio, Cincinnati, or Dayton small business, then you know that anything you can do to cut expenses will save you money in the long run.
However, one area you should never cut is employee health coverage.
Not only will cutting health coverage reduce your employees satisfaction, but it will also make it much harder to find new employees and can cost you more long term.
If your small business is looking for superior employee group coverage, look no further than the SOCA benefits plan.
When you work with SOCA, you can save 20-25% on your monthly medical spending. The SOCA Benefits Plan is a multiple employer welfare arrangement (MEWA) that lets eligible business band together to share in the overall claims risk.
That means SOCA gives your small business the same health benefits that a large corporation can offer, without the risk.
If you are looking to improve your employee health coverage for your Ohio small business, then it is time to reach out to SOCA today!
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