companies are family run the engine of the economy of our country. In fact, did you know that 60 million people 
work for themselves or for small businesses with fewer than 100 employees in the United States? So it's safe to say your family business is an important part of our economy.
But did you also know that 46% of all small and medium enterprises (with less than 0 employees) does not propose to health insurance sponsored by traditional employer. This represents over 2.7 million employers. 56% of all micro employers (with fewer than 10 employees) do not offer health insurance sponsored by traditional employer. That's 2.6 million employers
And if you're one of the family businesses that believe health benefits are out of reach for your employees, here's good new:. They are not about to reach.
affordable, safe and reliable, benefits, health for your employees exist and can become a valuable part of your family business. In this article we'll talk about an affordable option for health benefits for your family business -. repayment of the premium
Why do you need health benefits
As you consider to offer health benefits, consider the following key benefits:
Peace of mind - you and your employees can know that, in the case of an accident, you are covered. Many accidents can cause financial stress on you and your employees without the help of health insurance
preventive health care -. The health benefits you, your employees and your families provide access to free services of preventive health care. This includes cancer screening, vaccinations and blood pressure tests.
the ability to recruit and retain the best employees - Did you know that offers great health benefits is one of the best ways to recruit new employees for your family business? In addition, health benefits allow you to keep the employees you already have and value
The ability to comply with federal regulations -. For you and your employees to comply with the individual mandate , you need to have health insurance. Offering health benefits, you and your family and employees and their families will be able to meet the mandate.
Remember, offering health benefits is not only a way for you and your employees to comply with the individual mandate, but they are a means to you, your employees and your keep families safe and healthy. So you have to ask yourself "How can I offer health benefits?" The answer -. Premium Refund
What redemption premium
redemption premium is where you pay your employees for their premium costs of individual health insurance is a simple concept:. you offer your employees a monthly allowance of health care use of individual health insurance, rather than contribute to a group health insurance plan.
Advantages redemption premium for employees
Here are four key benefits for employees:
choice employees get to choose the health insurance plan that best fits their needs of families, including choice of several health insurance companies and plan design
portability :. Employees' individual health insurance is not linked to employment, which means they are able to take their insurance with them when they change jobs
-Send guaranteed :. from 2014, all employees are eligible for individual health insurance, regardless of medical conditions
Savings :. employees to reduce costs of health care by 50% or more. Most employees have access to tax credits by the insurance market disease. If an employee is eligible for a tax credit, the cost of health insurance is capped at 2% - 9.5% of their household income if their household income is less than 400% above the threshold federal poverty (which is $ 95,400 per year for a family of 4 in 2014).
benefits premium refund to employers
There are three main benefits to employers:
Recruitment and retention: This solution allows employers to recruit and retain employees. In addition to the health care allowance, employees also receive the benefits of an individual health insurance policy (choice, portability, guaranteed-issue, and savings)
Fixed price:. Health care allowance puts employers in control of their health benefits costs
Savings :. individual health plans cost, on average, up to 60% less than the collective health insurance. The employer contribution to employee health goes further.
How to incorporate redemption premium
Now that you know how to refund premium may be a useful benefit to the health of your family business here are three simple steps to make it a part of your health benefits
Step 1 -. Cancel your group health insurance plan (if you have one)
Step 2 - Give employees monthly allowances "health" to spend on health insurance. this may be through a repayment health care plan (HRP) or a taxable allowance tax free
Step 3 -. Allow employees to buy health insurance market in health insurance. They receive premium tax credits which cover their health insurance costs per cent of income
Stage 4 -. Paying employees on the payroll. Employees purchase individual health insurance policies with their own money and apply for a refund to your HRP software vendor. The company reimburses employees on the payroll
Tip: .. Many family businesses choose to use Software Premium Refund to avoid costly mistakes and comply with the rules and regulations
Conclusion
health benefits are an essential part of any business. And while you may be under the impression that the health benefits are out of reach for your family business offers premium refund as a health benefit is an ideal way to recruit and retain employees and save money.
Do you think offer the refund of the premium as a health benefit is a good fit for your family business? Why or why not? Comment below.
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