Q:

What are the benefits of employee health insurance plans?

A:

Quick Answer

Benefits of employee health insurance plans include improved employee morale and increased employee health, leading to a reduction in sick leave, as reported by U.S. News & World Report. Employee health insurance plans are often seen as part of a larger benefits package that is attractive to skilled employees who know their value and can seek competitive remuneration from other employers, meaning that these plans can help businesses attract higher quality personnel. In this scenario, the business benefits from having a talented employee, and the employee benefits by having better access to health care as part of her compensation package.

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Full Answer

Businesses have many different advantages to offering health insurance plans to employees, including the ability to get tax breaks from writing off their contributions to insurance plans, states FindLaw. Business owners can also benefit themselves by using the same benefits offered to their company's employees. Getting on the company insurance plan will likely cost the business owner less money than purchasing an individual plan and paying for it out of pocket.

Employees who are healthy and feel appreciated at work tend to do better work. Many employees are also happy to accept insurance benefits in lieu of higher pay, so the business can ultimately save money by offering these benefits.

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