It’s no secret that employees value health insurance benefits. Surveys have shown that workers value health insurance coverage second only to the wages they earn. By purchasing health insurance for your employees, you may find it easier to hire and retain the best workers for your company.
Additionally, there are various tax incentives available to you and your employees when you participate in a group health insurance plan. Businesses can generally deduct a major portion of the premiums they pay on for their employee’s health insurance and you can also reduce your payroll taxes. Also, there are new plans that use additional tax savings techniques to lower the cost of health care for both the employee and employer. Health Savings Accounts and Health Reimbursement Accounts are becoming increasingly popular due to their lower cost and increased consumer control of their health care decisions.