WELLBEING
Are you a small business owner with employees? Are you worried about health insurance coverage for them? It is important to stop believing myths and understand what is true regarding health care coverage for your business. Do you know that certain myths may be making it harder for you to improve employee benefits?
If you own a small business, you know how hard it is to keep your employees happy and productive. The last thing you want to do is make your job even harder by not giving health insurance as employee benefits. Keep reading as we bust some myths about health insurance so you can make better decisions for your business.
Myth 1: Offering health insurance will hurt your business's growth.
This is a common misconception, but one that many businesses have fallen prey to. The reality is that offering employees health insurance can help your company grow in many ways:
While it is true that some employers offer group health insurance plans to their employees, you don't have to do so. You can provide individual policies instead, or even make a hybrid of the two.
Myth 3: Health insurance is too expensive.
If you are a business owner, it is important to understand how much your employees and family members will pay for their medical care. Employer-sponsored health insurance works by paying for medical care for employees or their dependents under certain circumstances. When an employee goes to a doctor's office, hospital, or clinic, the benefit pays for certain medical services received. It does not cover all medical services and products, however.
Myth 4: If you offer it, employees will barely use it.
If you believe that only a few employees will use the insurance, you may be in for a surprise. The truth is that most people have an idea of what they need from their health care plan and how much it will cost them each year. They simply don't know whether your company's plan meets these needs; this is where your employees come in. They will help gauge if your coverage is right for them by asking questions and making sure they understand exactly what's covered under each policy.
Myth 5: You will have time to get everything sorted out later.
It is never too early to start thinking about your health insurance. You can always find a way to get it done later, but you don't have that luxury when you are dealing with an unexpected medical emergency or a major life change.
Start by doing some research and talking with your employees about what they need from their coverage. Once you know where everyone stands on the issue, it will be easier for everyone to make informed decisions together as a team.
Conclusion
Myths abound around offering health insurance to your small business, but they are just myths. The truth is that offering this benefit can be as simple as one phone call and a few new forms, or it could take a bit more effort. Knowing what's involved in getting started with this type of coverage will help you make the right decision for your business and your employees. Don't let the myths get in the way of providing great health care for yourself or your employees!
Are you ready to provide health insurance to your employees? Contact us today for guidance on how to start.