Now more than ever, Florida small business health insurance is a great option for small business owners.
Small business owners can benefit from:
- Low prices
- Possible tax advantages
- Access coverage outside of open enrollment
Top 3 Reasons You Should Offer Health Insurance For Your Small Business
1. Offering Small Business Health Insurance in Florida Makes You Unique
According to Real Time Health Quotes, 4 million people in Florida do not have health insurance (more than 20% of the population). According to the same study, 94% of large companies provide health insurance to their employees, while in Florida, only 38% of small companies offer coverage to their employees.
Many employees value benefits like health insurance more than a raise! This may be due to the benefits employees receive from having employer-sponsored group health insurance.
Some of the benefits include:
- Cost Sharing: Premium costs are generally shared between the employee and the small business owner under Florida Small Group Health Insurance.
- Tax benefits: Since an employee's portion of health insurance is generally deducted from their salary, this means it comes from pre-tax dollars.
- Lower rates - Because you are a larger group than just an individual or a family, insurance premiums on small group plans are usually cheaper for each individual.
When it comes to group coverage, there are many ways that employees and employers benefit.
2. Providing health insurance can also benefit employers
Offering group coverage in Florida as a small business owner can have huge benefits. Some of these include:
- Retention and hiring of key employees - Talented workers generally get the best jobs. The best positions often have benefits, like health insurance. According to the Small Business Administration, economists believe that employees generally view health benefits as a higher cost than earning a higher salary. In other words, small group health insurance has been shown to make employees happy. You can read more about how to retain key employees for your small business.
- Tax Benefits: Tax credits are intended to help you defray the cost of owning a small business in Florida. You may be eligible for a tax benefit if:
- You have 25 or fewer employees
- Your average company salary is less than $ 52,000 per year
- You contribute at least 50% of the fees
- Healthy Employees - By offering small business health insurance in Florida, you give your employees access to preventive care and discounts on prescriptions and doctor visits. With all the health care your employees can benefit from, you may find that you have healthy employees at work and fewer people spending sick days.
3. You can get small business health insurance with very few employees.
There are small companies and there are very small companies. It can sometimes be difficult for businesses with a small number of people to cover employees.
According to the Transamerica Center for Health Studies (TCHS), the main reason employers didn't offer health insurance was because they were too young.
Fortunately for companies with just a handful of employees, eHealth still has great coverage options that make it easy for you to offer health insurance to your employees.
2018 data from our customers indicates that even the smallest businesses buy health insurance for a small package from our site.
This is most likely due to the unreasonable price of individual plans.
On average, group health insurance plans are cheaper for each individual. This means your employees will be able to access coverage that they can really afford.
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