Health Insurance as an Employee Benefit

By Compuquotes Team on June 29th, 2008
Health Insurance

Companies that want to take steps to keep their valuable human resources are well served by offering a desirable and affordable package of benefits to their employers. Offering a comprehensive employee benefits program can be a very powerful employee retention tool, and it also plays a major role in both job satisfaction and morale.

Companies that want to have a satisfied and loyal workforce are well served by making sure that the benefits they offer to workers are among the most favorable options available to workers in their geographic area and in their overall industry. Health insurance is one of the most basic and important employee benefit programs and employer can offer. Many workers actually choose where they want to work based on the availability of affordable, quality health insurance.

People have a basic need to take care of their own healthcare needs as well as those of their families. Organizations that don't offer health insurance to their employees are often viewed as organizations that don't truly care about the well being of their workers or their families. If your employees feel as if your company has no concern for their well being, they certainly aren't likely to be committed to staying with the company for the long term.

Companies that don't offer health insurance as an employee benefit may be able to attract employees, but the workers they hire aren't likely to stay with them for very long. Once people get enough experience and knowledge to be considered for employment with companies that do offer health insurance, and other benefits, they are not likely to stay with a company that doesn't offer the benefits that meet their needs.

Some employers feel that offering health benefits to their employees is too expensive. What these companies lose sight of is the fact that the cost of not offering health insurance may be even greater than the price of premiums. If your company is losing good workers to other organizations that do offer health insurance, it's important to consider how much the turnover your organization is experiencing really costs.

While it's true that health insurance is very expensive, it's also a fact that employers don't have to pay for all of the cost of insurance for their employees. It's very common for employers to split the cost of health insurance premiums with their employees. Sometimes simply making group health insurance available, even if the employer doesn't pay part of the premium, can make the difference in whether or not an individual is able to get the health insurance protection he or she needs.

Many people can't qualify for individual health insurance policies due to prior health problems. Even without pre-existing conditions, private health insurance is often much more costly than group plans. Companies often have access to discounted health insurance rate for which employees would not be able to qualify if they purchased individual policies. Because of this, many people find that group health insurance offered through an employer is the only affordable coverage potion.

By making health insurance available to workers, companies are sending an important message that they value their employees and that they recognize that their team members have a need to provide for the overall well-being of their families. When workers are able to choose to participate in group health insurance at work, they are much more likely to be committed to their employers and engaged in their work.

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