If you’re only looking to insure the couple of employees that keep your business going, then you may be tempted to take out single health insurance policies for each of them. However, did you know that small group health insurance plans tend to be cheaper and more efficient? Under one policy, a business can handle health benefits and save money while doing so.
How Small Group Health Insurance is More Affordable
There are a few reasons why small group health insurance tends to be cheaper per person than individual plans:
- Employer contributions – Employers tend to pay for at least half of the premium
- Tax benefits for employees – Employees typically pay for their part on the premium with pre-tax money.
- Tax benefits for employers – Small business owners likely pay 50 percent of the monthly premiums for employees, but there are ways to deduct these costs from your business taxes. In some cases, you may be eligible for special tax credits.
Your business is unlike any other – and so are your employees. Secure the best healthcare for your business and budget by letting us help you build it. You’re able to choose from a wide range of options and benefits, and only pay for what you need.
At Wepawaug Insurance Agency, we work with small businesses across Connecticut to find quality group health coverage for their needs. Contact us today to learn more.