Now that the Affordable Care Act has being proficient in the United States the employer mandate requires businesses with over 50 employees to provide healthcare insurance or otherwise face a tax penalty. No business wants to pay a fine and offering adequate health insurance plans will prevent employees from leaving and save your company money in the long-term. It is important that your employees are happy working for you to improve productivity and motivation levels. Benefits such as having a good health insurance plan can be effective in terms of how employees feel they are valued by the company.
According to HealthPac the percentage of people in America with no healthcare insurance in 2010 was 16.3%, a large figure for a wealthy nation. This is due to a distinctive lack of a system unlike, for example, in the UK, where they have the NHS system.
Finding an Insurance Company
Look at similar businesses to yours and which insurance companies or plans they are using. If they have the same employee numbers and market you may find there plan would suit your company too.
An easy method nowadays is to compare companies online. There are loads of insurance companies who will list their services and plans online. For example, Catlin U.S offers Accident and Health insurance covering accidental death and medical expenses. As well as other services for example, Casualty insurance, Energy Insurance and Environmental insurance.
Choosing an Insurance Company
If your business is beginning to see a large boost in staff numbers and profit or if you have never had a health insurance plan for your company, have a look online to compare quotes and get the ball rolling.
You need to make sure that you are choosing the right coverage for your business. So, speak to more than one company and compare quotes. Also take into consideration the level of customer service you have received as this will be important if your business has to deal with them regularly. Does your business have an account or somebody who can manage the budget for employee’s health insurance?
There are different levels of accounts which include different benefits for employers; some plans mean that the employee will have to pay some money towards the insurance depending on their expenses. Share with us which insurance company your business is with and any advice on finding one.