Why is health insurance important?
To help you better understand why your company should take on health insurance as a benefit, we asked business leaders and healthcare professionals this question for their thoughts. From avoiding expensive emergency bills to attracting the most qualified employees, there are several reasons that may help persuade you to take on health insurance as one of your company’s future benefits.
Here are nine reasons why we think your company should provide healthcare:
- Safety & Security
- Avoid Expensive Emergency Bills
- Health Is Wealth
- Peace Of Mind Is Priceless
- Being A Responsible Adult
- Attract The Most Qualified Candidates
- Health Insurance Makes You a Real Company
- It Makes You An Attractive Employer
- It Is The Benefit Employees Want The Most
Safety & Security
Health insurance makes people feel safe and secure. Being in the insurance business, we understand that safety is priceless to people. Feeling well taken care of and prepared for whatever crisis life might throw at you allows people to focus on their everyday life, rather than worry about the unknown. A benefit of providing health insurance as a small business is that your employees will feel protected if health concerns arise and will be otherwise focused on their work since they know they have health insurance.
Vicky Franko, Insura
Avoid Expensive Emergency Bills
Health insurance is important because it can protect you from having to pay exorbitant out-of-pocket costs in case you meet with an accident or illness. Hospital and ambulance bills can easily add up to thousands of dollars, and with 4 in 10 Americans unable to cover an unexpected $1,000 bill, this can become a huge burden. The subsidies for health insurance now apply to most Americans, so a policy’s cost ought to be affordable for almost anyone.
Dan Reck, MATClinics
Health Is Wealth
Health insurance will provide you with peace of mind that your personal assets are protected should you have a major illness. Health insurance provides you with free annual well visits, which are important for early detection of health issues. Early detection of health concerns can save lives and also saves money in the long run. Shouldn’t your health be your most important consideration?
Sonja Talley, CORE HR Solutions, LLC
Peace Of Mind Is Priceless
Health insurance gives me peace of mind and is absolutely necessary, in my opinion, to protect against future accidents and health issues. Going without it, especially in America, is a huge financial risk, and I’d never recommend it. Even better is that I see a doctor more often with health insurance as I know it will be covered—hesitating to get something checked out because of the cost is not a feeling I want to experience.
Quincy Smith, ESL Authority
Being A Responsible Adult
In the US, you really need to have health insurance for you and your family to be sure you will be treated when something medically bad happens. With so many health issues and injuries that can happen, you need to be prepared for your family and yourself. Health insurance allows you to have somewhat of peace of mind that you will be treated when something comes up. It also allows you to go for regular check-ups and prevent care measures to keep you healthy before something goes wrong.
Mark Smith, University of Advancing Technology
Attract The Most Qualified Candidates
Potential employees looking for a new job or career opportunity want to join a company that offers health insurance for full-time positions. By offering health insurance, your business will attract more qualified candidates. These candidates know their skills are worthwhile, so they want their job’s benefits to reflect that. Health insurance as a benefit ensures that both employees and those considering working for your company are valued.
Henry Babichenko, Stomadent
Health Insurance Makes You a Real Company
Offering health insurance as an employee benefit is one step to becoming a real company. Without health insurance, offer letters aren’t as strong. You can’t attract top talent. I remember when we started offering medical insurance and then expanded the coverage to include dental and vision. As lame as it may sound, being able to work with an employee benefits broker to make health insurance part of our variable compensation package was a moment where our company started to grow up.
Brett Farmiloe, Markitors
It Shows Your Care
Providing health insurance to employees is important for the obvious reason of keeping employees healthy. However, something even more important is that providing health insurance and other benefits lets your employees know that they are valuable to the company. Employees who feel valuable stay with the company for the long haul. Pair health insurance with a wellness program to let your people know that their health is important to you. Spend on benefits rather than the costs associated with high turnover.
Keesjan Engelen, Titoma
It Makes You An Attractive Employer
In the United States, health care is intrinsically tied to employment. So, it is incredibly important and beneficial for employers to offer comprehensive health benefits as part of their benefits package. It makes you attractive to job seekers and improves your employer brand in the market. In the wake of a global pandemic, now more than ever, people want health benefits as part of their compensation.
Eric Mochnacz, Red Clover
It Is The Benefit Employees Want The Most
In survey research we did recently, employees of small businesses said health benefits were far more important to them than any other benefit. A retirement plan and paid time off were tied for second, but they were far less important. We also observed that employees who had health insurance were much less likely to be considering a job change.
Elliot Brown, OnPay Payroll