Top Reasons for a Small Business to Offer Health Insurance
There are many reasons for your small business to offer CareFirst health insurance to your employees, from retention and increased productivity to lower health care costs. Here are the top five reasons for your small business to offer health insurance to your employees:
Attract and retain employees
88% of surveyed workers said they would consider a lower paying job if it offered better health, dental and vision benefits, according to the Harvard Business Review.1
A good health insurance plan is a powerful way to compete for talent, especially as a small business competing with the salaries of larger corporations. It shows you care about your employees and those who help build your business. In fact, 56% of U.S. adults said in a recent survey that coverage is a key factor in their choice to stay at their current job.2
Tax advantages
CareFirst health insurance coverage can help your business save money with tax savings:
- Employer contributions toward employee health insurance premiums are tax-deductible.
- Employer payroll taxes are reduced by 7.65% of employee contributions to their health insurance premiums.
- Workers’ Compensation premiums decrease.
Your plan can help your employees save money as well, with free preventive care and a wellness program with incentives that can help them save on their health care costs.
Increased productivity
It’s hard to be productive when you’re sick or caring for a sick family member. Workers without health insurance are less likely to see the doctor and get treatment, making it likely that they'll need more sick days.3
Studies in small businesses (fewer than 100 employees) have also found a positive relationship between health insurance availability and employee productivity.4
With inexpensive doctor visits, free preventive care and telemedicine, CareFirst plans help you and your employees stay well, get better and get back to work faster.
Comprehensive support and benefits
CareFirst medical plans include pharmacy benefits. Additionally, members have access to services and generic drugs before members meet their deductible. All plan options offer numerous value-added features, including a health and wellness program at no extra charge, on-demand video visits for urgent care, and scheduled online visits for mental health, nutrition or breastfeeding support. CareFirst also offers solutions for dental, vision and international coverage.
Hassle-free administration
CareFirst makes it easy to enroll employees and manage plans with the CareFirst Hub, an all-in-one system for managing open enrollment, new hires, qualifying life events and billing and payments. See all your group and member transactions at a glance, make changes and get to know your options.
Small Business Health Insurance from CareFirst
Is your business ready to offer health benefits with the widest network of doctors and hospitals available? Get a quote or contact us to learn why over 70% of eligible small businesses that offer health insurance choose CareFirst BlueCross BlueShield.