Insurance is one of the most valuable benefits that you can provide to your employees.
It is no secret that providing your employees with insurance is expensive. But, it is one of the most valuable benefits that you can provide to your employees. That is because insurance helps keep your staff healthy and happy, and providing health insurance to employees shows that you care about their well-being. Many business owners agree to offer health insurance benefits even when they aren’t required by law. Why do these companies do this even when they don’t have to? Because it helps both the business owners and their staff. Here are the benefits of purchasing group insurance for your business and employees.
Makes Employees Happy
These days, not having any health coverage is a stressful and frightening experience. Studies have shown that employees view health insurance as, by far, the most important benefit they get from their employer. When employees are satisfied with their benefits, they are happier with their current positions and produce quality and consistent work. This is why employers should offer health insurance to employees as their first company benefit, then add additional benefits over time.
Gives Employees Peace of Mind
If you get in an accident or receive a life-changing diagnosis, the last thing you want is to find out your insurance won’t cover it. Luckily, that is where voluntary benefits come in. Employees that have high-deductible plans or other gaps in their coverage can opt for benefits that mediate these shortcomings and provide extra support in emergencies.
Improves Employee Productivity
Researchers have found that offering group insurance and other benefits can offer more return on investment due to higher productivity. As a business owner, having productive and focused employees is a top priority to ensure success. Not providing adequate benefits will cause your employees to worry about their health and stress over the overwhelming enrollment process.
Preventative Care Benefits
Plans that provide employees and their families with preventative care benefits, such as vision or dental, are great for ensuring health long term. Many people would accept a position with lower pay but more quality benefits, so adding a voluntary benefits program could help your business become more competitive in the labor market. Voluntary benefits are a flexible and cost-effective solution to help you build a more solid benefits package—without spending a fortune!
Get Your Voluntary, Supplemental, and Health Insurance Policies with the MWE Partnership!
Are you a business looking to provide your employees with essential voluntary benefits? If so, look no further than The MWE Partnership. When you choose The MWE Partnership, you get experienced service and comprehensive voluntary benefit options that will meet all your employees’ needs. With over 17 years of experience, The MWE Partnership is your go-to provider for all your supplemental benefit needs. If you are interested in finding out how The MWE Partnership can help your business, contact us today! We encourage you to like our Facebook page and follow us on Twitter and LinkedIn for the latest voluntary benefit news!