Business Insurance – Benefits Plans: A perk that benefits you and your employees

As a successful business owner, you have to be applauded for your tenacity and drive to build and maintain your business. As you have grown, you have found and/or developed a pool of employees that compliment your style and have become integral components to running your business. Everything moves along smoothly until – someone leaves. While the gap can be compensated for, it is a very expensive venture to find a replacement, hire that replacement, train them and to ensure that they are a good fit for you and your company. Prevent high employee turnover by investing in your employee’s health and well being – a Group Health & Dental Benefits Plan may be the most cost effective solution for you!

Let’s clarify what a health and dental group policy is: it is a promise that you are providing to your employees for working there (whether you pay for it all or share cost with the employee). You are providing for their health (and is some cases – helping with retirement savings) in exchange for their loyalty and hard work.

When that employee gets sick or needs health services, they are compensated financially through the plan (subject to terms of the contract).

So why should you get one?

  • To attract and retain employees
  • access to insurance  services at a reduced cost
  • premium paid by the business can be tax deductible as a business expense (depending on the type of coverage)
  •  help to improve morale and stimulate increased productivity
  • provide financial security and support when your employees really need it

A good benefits broker will meet with you multiple times per year (not just at renewal) to monitor the spending costs and  adjust the plan to ensure that it remains affordable to your company’s cash flow. Help your business move to the next level by taking care of your employees – they will return the favour in spades.

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