Finding ways to retain top talent is one of the primary needs of your business clients. Fortunately, you’re in a great spot to help them. Group health packages provide a range of benefits to both the employer and employees, making it easier to encourage staying with a company and reduce turnover. We’ll explore the various reasons to offer group health benefits to employees and how taking the time to select the right package can pay off for your clients.
Increases Employee Satisfaction
Providing group health benefits to employees is one of the most effective ways to improve their job satisfaction. When employees have access to healthcare coverage, they feel valued and appreciated by their employers. This can lead to higher employee engagement, better productivity, and boosted morale. With the current economic climate, offering a health benefits package may help employers keep their valued employees.
Manages Healthcare Costs
Offering group health benefits to employees can also help your clients manage healthcare costs by spreading the risk for medical expenses across the entire group. As a result, premiums are lower for everyone, and employers can minimize the risk of high medical expenses. Additionally, they can take advantage of tax benefits by offering group health insurance to employees.
Lowers Absenteeism and Turnover Rates
When employees have access to healthcare benefits, they’re typically healthier than those who don’t have these resources. Employees who work for employers offering health insurance benefits are more likely to stay with the organization for a long time. Healthcare benefits are critical factors for people looking for work.
Provides Competitive Advantage
Another crucial reason to offer group health benefits to employees is that it can make your client’s business stand out from others. Employers who offer comprehensive health benefits packages have a distinct advantage when attracting job candidates.
Improves Employee Well-Being
Healthcare coverage means employees can take care of their well-being. Group health benefits offer employees peace of mind that they can receive the care they need when they need it. This can lead to fewer absences from work and healthier, more productive employees. Employers who offer preventive care benefits can also help their employees stay on top of their health year-round.
The more you advocate for employees when helping business owners select healthcare packages, the better off your clients will be. Warner Pacific provides several resources to help you find the right insurance match for your clients. In addition to group plans, we offer level-funded medical plan services that balance superior coverage with reasonable costs. Reach out to us today to learn more.