Importance of Employee Benefits Insurance for Your Small Business

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Importance of Employee Benefits Insurance for
Your Small Business
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• If youre the owner of a small business, youll
  know that for the most part, the key to success
  lies in having a good workforce. However, it
  could be said that you only get out what you put
  in, and if your employees dont feel valued and
  appreciated, then your business just may not
  become successful.

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• Keeping your workforce content though, is often
  as straightforward as showing them that you care
  about their wellbeing, and what better way to
  show this, than by offering them all health
  insurance?

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• What are the benefits of offering health
  insurance to employees?
• For many employees, a good benefit package is
  extremely important when they are looking for
  work, and they may even take health care benefits
  into account before applying for a post. If you
  already offer this, then you may have more luck
  in attracting potential staff, but if you dont
  have a package in place and are looking for a way
  to improve the morale of your existing workforce,
  then it may be something that you look into right
  away. Also, if your competitors are offering
  health care insurance packages for their
  employees, then you are already one step behind
  and will need to act fast in order to keep up
  with them!

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• Not only will health care insurance reassure your
  workforce that you take their wellbeing
  seriously, but you may also be able to take
  advantage of less expensive health insurance for
  yourself and could even be awarded a tax break
  for the contributions made by your business.

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• Below are listed a few more reasons why its in
  you and your business best interests to offer
  healthcare insurance for your employees
• At the beginning of 2015, a legal mandate came
  into effect from The Patient Protection and
  Affordable Care Act which stated that employers
  with 50 or more full time employees (or a
  combination of 50 full and part time) must offer
  appropriate healthcare coverage or be subject to
  an assessment if their employees receive premium
  tax credits to buy their own insurance. Avoiding
  assessment would naturally be in your best
  interests as an employer.

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• Other than tax credits which you may be eligible
  for if you employ fewer than 25 people, you may
  also be able to gain other tax advantages such as
  being able to deduct 100 of your employees
  healthcare premium costs, meaning that your out
  of pocket costs equal less than the value of your
  employees benefits.

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• The Small Business Health Options Program (SHOP)
  offers small businesses (typically those with 50
  or less full time staff) a healthcare package
  through an insurance marketplace run by the
  government. But even if you choose not to offer
  your employees any insurance, you could still
  offer them the chance to obtain group rates for
  themselves through your business.

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• Apollo Payroll offers premier small business
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  Apollo Payroll is dedicated to delivering expert
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