In this day and age, it is important to attract quality employees. Offering medical insurance is increasingly important to the majority of the workforce. When searching for a “medical insurance broker near me”, make sure your choice of broker has the experience and capability of providing the options your employees will request.

Charles Newman Company has been providing corporations medical insurance options for decades. Our expert team of insurance brokers can explain clearly and competently the options available for your company and employees. We have worked with a variety of corporations and insurance providers. This allows for our brokers to explore your options with a greater degree of knowledge than many others.

Saving with Health Insurance

There are a variety of ways a company saves in providing medical insurance. While it may seem counterproductive, there are many upfront and hidden savings associated with providing health care.

Taxes

A company who provides health care saves on their taxes in two ways. One of which is that associated medical insurance costs can contribute to your companies deductions. Another is through tax incentives by the federal government to companies that provides medical insurance to their employees. This tax credit can be up to 35% if a company pays part of the premiums.

Productivity

Employee health directly impacts their productivity. Healthier employees reduces absenteeism improving your companies overall productivity. Additionally, an employee with good health insurance is more likely to be diagnosed and treated earlier due to less concern over the cost of health care. As a result, there is less need for lengthy treatments which may result in reduced work hours.

Employee Retention

Training new employees is expensive. So are labor strikes. Offering health insurance to your employees aids in retention and has been shown to reduce strikes in the labor force. Also, generous benefits, including medical insurance, lead to happier employees who feel the company they work for cares and respects them.

Reduced Operational Costs

Health benefits allow you to hire better candidates at often lower salaries than those companies who do not offer health insurance. Often health benefits are a priority over pensions and paid time off. When looking to hire, the better your medical insurance package, often the better the candidate who applies. MetLife’s 18th Annual US Employee Benefit Trends Study 2020 states that 86% of employees believe that medical insurance is a must have.