Lower the Cost for Your Small Business Health Insurance Programs With These 3 Tips

A health insurance program for employees is a great way for a small business to attract quality talent and keep it, but the cost of insurance can be prohibitive to a company that is just getting on its feet or has a small budget to work with.

Schumacher Insurance Agency

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The great news is that there are ways a small company can lower the cost of employer-provided health insurance programs, allowing it to continue offering this value-added benefit to employees and preventing them from jumping ship for another company.

Here are three great ways a small business can lower the cost of it’s health insurance program:

  1. Develop and implement wellness programs that focus on keeping employees healthy.  The programs can be anything from cancer screenings to smoking cessation programs or even flu shots, and the healthier your employees are, the less costly your health insurance coverage will be.  An added benefit of wellness programs is that they improve an employee’s overall level of job happiness and satisfaction.
  2. Explore the option of health savings accounts for employees.  These are tax-exempt accounts that employees contribute to and out of which are paid deductibles and other costs associated with medical care that supplement your existing health insurance program.  Contributions and withdrawals are tax-exempt, so employees also get the ability to claim them as a deduction on their income tax returns.
  3. Don’t just go with the first insurance company that solicits your business.  Shop around for the best rates for the company and for your employees.

While keeping employees healthy is important to any company, you also want to be able to provide the ability for them to have adequate medical coverage.  The Schumacher Insurance Group can help with small business insurance plans, so contact them today to find out more!

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About Schumacher Insurance Agency

Why trust us? What do we do different than every other insurance agency? Consider this an invitation to get to know us. We believe we are an exceptional team of protection specialists that work hard to do things the right way, to educate our clients on insurance, and make the experience effortless. We are excited to introduce a new insurance experience for our customers. We encourage you to speak with our team who can show you how different we are… from text messaging services for late payments to educational insurance concepts on Facebook. We will prove our innovative approaches to obtain the proper coverage’s for you, your family, your business. Insurance is likely not the most interesting affair for everyone, but it is most certainly ours! Yes, we are insurance geeks!

Posted on August 28, 2013, in Agency and tagged , , . Bookmark the permalink. Leave a comment.

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