Do I Need Group Health Insurance For My Employees?

1
Do I Need Group Health Insurance For My Employees?
2

• Group health insurance coverage for employees, is
  offered by companies to those staff members who
  are eligible, and close family members may also
  be included. This is naturally seen as a benefit
  of working for a company, and many employees will
  consider the health insurance package on offer,
  before they accept a position within a company.
• For that reason - and because its in the best
  interests of any company to help protect the
  health of their employees most companies offer
  eligible members

3

• of their workforce, group health insurance, and
  most US citizens today, are covered either by
  their own employer, or through a family member.
• My business is small, do I still need to provide
  health insurance for my employees?
• At present, small employers are not legally
  required to offer their employees, health
  insurance packages, but of course that doesnt
  prohibit you from doing so. While you may feel
  that youre unable to afford health benefits for
  your

4

• employees(and not offering them may well boost
  your bottom line in the short term), this could
  have a negative impact on the long- term
  prosperity of your business. Since health
  insurance coverage is an important aspect of
  employment and many employees believe it to be an
  entitlement, potential employees will want to
  work for a company that provides them with it and
  may avoid those who do not. If youre trying to
  attract quality candidates for positions within
  your company, then you will almost certainly have
  to offer health insurance at the very least,
  while some employees may also demand a retirement
  plan or disability insurance.

5

• Once provided with health insurance coverage,
  employees tend to have a better sense of job
  satisfaction and are generally less inclined to
  miss workdays or quit their position they may
  even feel more motivated to meet the companys
  goals and targets. Overall, research has shown
  that when employees feel that their benefit needs
  are being met, they are more satisfied and
  productive, and so most small business owners
  consider it a worthwhile financial commitment to
  offer coverage to all their eligible staff
  members.

6

• How is the cost of employee health insurance
  calculated?
• The first step is to apply for group employee
  health coverage to an insurance company, who will
  then assess and review your application. If you
  are successful, the insurance company will go on
  to use different criteria, such as the location
  and size of your business and the age of your
  employees, to assess your needs beforeoffering
  you a monthly rate or premium.

7

• If youre still unsure as to whether you should
  provide your employees with group health
  insurance,why not browse the policies that are
  available to you, and take things from there?
  Remember, research is free, and speaking with
  other small business owners may also help you to
  decide.

8

• Apollo Payroll is one of the premier small
  business payroll services companies in Miami and
  Coral Gables. Apollo Payroll is dedicated to
  delivering expert advice, responsive service, and
  highly accurate payroll processing and reporting.
  Their services include comprehensive online
  payroll services, employee background check and
  employee timekeeping services in Miami.