The job market has never been so challenging. Companies in all industries are looking for qualified people. Like the housing market here in Phoenix, the demand is high, the options are low. For a small business, this makes the challenge to hire and retain good people greater than ever.
One of the top criteria people look for in a job offer is employee benefits. According to an article by Best Money Moves – Top 10 Employee Benefits for 2021, health insurance ranked #3. The article states “employers who don’t offer health insurance might want to reconsider …” This puts them at an advantage when it comes to hiring and retaining people.
Frac.tl, a consulting firm in Delray Beach, FLA, conducted a study asking 2000 people how heavily they would weigh each of the 17 benefits listed when deciding between a high-paying job and a lower-paying job with more benefits. They found that better health, dental, and vision strongly influence a candidate’s decision when deciding where to work.
Small businesses have always been at a disadvantage when it comes to employee perks – especially health insurance. The Affordable Care Act qualifying health insurance plans provide guidelines on the level of employee participation and employer contribution to the premiums that make offering health insurance impossible to smaller companies.
The Good News Is, There Is Another Option
While many business owners and HR specialists are aware of health insurance supplement plans, they think of them as an optional product to fill the gaps of major medical health insurance plans. And true, many supplement plans don’t work as stand-alone alternatives to major medical plans, but instead provide additional funds to supplement coverage.
At Gordon Health Group, we offer a health insurance supplement plan that IS a stand-alone insurance plan. It can be customized to build a wall of protection to deal with the medical costs from wellness checks to ICU hospitalization, minor accidents to life-threatening illnesses that people encounter.
What makes this coverage a perfect option for small businesses is that:
- The premiums can run as much as 40% less than major medical plans.
- There are no requirements regarding the percentage of the workforce that must participate.
- The employer can contribute as much or as little to the premiums as they choose.
- The coverage is completely portable if someone leaves – no COBRA!
- The plan offers customization so different employees can be offered different levels of coverage.
We’d love to provide you a free, no-obligation quote to show you how feasible it is to offer health insurance and attract great people to your organization.