health benefits employees are expensive, and many small businesses, buying health insurance is out of reach
But here's another way to think of health benefits. offering health benefits can help your small business save money in general. And there are new "Name Your Price" models that make health benefits attainable.
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54% of small businesses do not offer health insurance
number one challenge small businesses to offer benefits health is the cost.
According to Kaiser Family Foundation , the cost of premium national average group health insurance for small businesses in 2014 was $ 6.025 / year, with the company to pay $ 4,944 per employee. Over the past 15 years, the cost to cover employees with traditional health insurance increased by 174% (for individual coverage).
As such, only 54% of small businesses (with fewer than 0 employees) even offer traditional health insurance today.
But these statistics do not mean small businesses drop health benefits altogether. Instead, they look for new approaches to provide health benefits enabling predictable cost health benefits.
Advantages of health can reduce employee turnover
on cost of employee turnover is expensive is estimated at the equivalent of 6 to 9 months salary - which is $ 20,000 to $ 30,000 for a manager to $ 40,000 in recruitment and training costs, and the potential revenue loss of customers. Other studies predict the cost even more -. The loss of a salaried employee can cost up to 2x annual salary, especially for an employee of highly qualified executive level
The health benefits are a social benefit issue offered by employers, and are an important part of the recruitment strategies and employee retention. Many employers look at the health benefits as an investment in employees. Employers can save about half of these expenditures, $ 10,000 or more per employee replaced with a benefits package of health that helps to recruit new employees and retain existing employees.
But all the advantages of offering health benefits means nothing if the company can not afford, short term or long term.
How to enable benefits of small healthcare companies
Health Insurance Group is out of range for your small business, but that does not mean the health benefits are off the table. Instead of contributing to a group health insurance policy, reimburse employees for individual health insurance.
With this type of " defined contribution " model health benefits, price your corporate names for benefits health. If the company wants to contribute all amount of employee health benefits, you can afford the benefits. The cost of health benefits is now in your control.
Conclusion
Take control of your costs of staff turnover by offering attractive, affordable health services adapted to retain your staff the more expensive to replace. If the group insurance is out of reach, evaluate solutions more affordable, as reimbursement of employees for individual health insurance. Over time, you will see the health benefits that can pay for themselves.
Do you have questions about how to get premium costs under control or on the health benefits of small business? Leave a comment and join the discussion.
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