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Offering Employee Benefits Keeps Your Business Competitive 

 

Group health insurance is one of the first benefits potential employees inquire about.  In a Blue Cross and Blue Shield Association survey,* a majority of small business owners reported several positive effects of offering health insurance for their employees:

 

  • 78% said it increased loyalty and decreased turnover.

  • 75% said it helped employee recruitment.

  • 64% said it increased productivity by keeping employees healthy.

  • 62% said that employees demanded or expected health insurance.

  • 58% said it reduced absenteeism by keeping employees healthy.

 

Consequently, only 25 % of employers who did not offer health benefits responded that they thought not offering health insurance had no impact on their business.

 

Expenses that an employer incurs related to health insurance for employees or dependents may be tax deductible on both state and federal income taxes.**  Implementing a Section 125 Premium Only Plan, allows employees to contribute their portion of the premium payments via pre-tax payroll deduction, reducing taxable income and increasing the employee's take-home pay.

 

 

 

*Blue Cross and Blue Shield Association Analysis of 2002 Small Employer Health Benefits Survey, sponsored by the Blue Cross and Blue Shield Association (BCBSA), the Employee Benefit Research Institute (EBRI), and the Consumer Health Education Council (CHEC).

**RLH Insurance & Benefits, LLC does not provide tax or accounting consultative services.  Consult with a tax professional.

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We do not offer every plan available in your area. Currently we represent 4 organizations that offer 22 products in your area. Please contact Medicare.gov, 1-800-MEDICARE, or your local State Health Insurance Program (SHIP) to get information on all your options.This is a proprietary website and is not associated, endorsed or authorized by the Social Security Administration, the Department of Health and Human Services or the Center for Medicare and Medicaid Services. This site contains decision-support content and information about Medicare, services related to Medicare and services for people with Medicare. If you would like to find more information about the Medicare program please visit the Official U.S. Government Site for People with Medicare located at http://www.medicare.gov

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