5 Reasons to Offer Health Insurance to Employees

RCS Influencer Michelle Boykin says that offering benefits such as health insurance is one more way to stand out above competitors and other industries when recruiting.

As a roofing contractor, we are always looking for ways to stand out above not only our competitors, but other industries, especially with recruiting new employees. Offering benefits, such as health insurance, is one way to do this. Not only do you keep a healthier staff, but your employees know you care about their overall well-being. We have offered medical insurance for several years, and more recently have offered additional supplemental benefits to our employees. There are different types of insurance you can offer, and they each depend on what is best for you and your employees. I would recommend consulting an insurance or benefits professional to see what is right for your company needs.

Why should you consider offering medical insurance for your employees?

1.  Everyone else is doing it. Remember when your mom would tell you not to do something just because “everyone else is doing it”? In this instance, you should ignore her warning. Other industries consider medical insurance the norm, and if you want to recruit new employees, this is a standard. Employees have come to expect certain benefits, and if you are not prepared, you are missing out on great employees.

2.  Your employees have a vested interest. Our company, Rackley Roofing, purposefully absorbs almost the full cost of the employee-only benefit. Almost. We do this so it is a no-brainer for the employee to sign up, and it is a cost-savings to employees who need to cover their family as well. When the employee is required to chip in, even in a small amount, they take it more seriously and are more likely to participate in their own wellness. We also fund an HRA (Health Reimbursement Account) that can assist our employees with deductibles and eligible medical expenses.

3.  Gain tax advantages. You should always check with your tax professional, but in most instances, there can be tax deductions or advantages to both the employer and the employee. 

4.  Retain a healthy workforce. Employees that have health insurance are more likely to see their health care professional for preventive care. This means less sick time, healthier employees, and more productivity. Our insurance benefit includes an online/telephone physician option, so even employees that refuse to miss work can receive care for common ailments. This can help keep co-workers healthy when they would normally be exposed to sickness.

5.  It’s the right thing to do. As a business owner, you should care about your employees. Period.

If you still can’t see the benefit in providing medical insurance for your employees, you are probably asking, “but what about the cost?  I can’t afford to provide medical insurance.”  I would offer you another thought. What is it costing you by not providing medical insurance?

Michelle Boykin is the COO and Integrator of Rackley Roofing Company, Inc. See her full bio here.