When you provide group health insurance, you’re not just investing in your employee’s health and wellbeing, you’re also investing in your company’s success. Studies have shown that offering health benefits can increase employee retention, boost morale, and improve productivity. You will attract and retain top talent and promote a healthier workplace culture.
One out of every six adult workers (16%) whose primary health insurance comes from an employer are staying in jobs they might otherwise leave out of fear of losing their health benefits, according to a new study conducted by West Health and Gallup.
In some cases, the consideration of benefits outweighs pay, as 78% of U.S. employees say that having health insurance that meets their specific needs is important to them when looking for a new job, and 64% say that they would be willing to sacrifice some pay for better health insurance, if they were looking for a new job.
In addition, nearly two-thirds (63%) say that their company’s health insurance offerings impact how much they want to keep working there.
Forty-two percent of respondents report concern that they would not be able to pay for a major health event, including 49% of Hispanic adults and 47% of Black adults.
In comparison, 25% are concerned about losing their home, and 29% of workers are worried about losing their jobs; via the Gallup Panel, a probability-based, non-opt-in panel of about 120,000 adults nationwide.
Over half (53%) of employed American workers do not feel they are getting the most out of the health insurance options available to them. A similar proportion (54%) don’t know the full scope of what their current health insurance offers them.
Younger employed adults aged 18-34 (67%) and aged 35-44 (71%) are more likely to incorrectly answer or to be unsure about some basic facts about health insurance—especially the definition of a deductible; vs. adults aged 45-64 (45-54 41%; 55-64 26%).
Employed American adults are unsure about who to turn to if they have questions and many times fall back on selecting the same insurance every year, potentially undercutting employers’ efforts to improve the enrollment experience by adding new plans or offering coverage at new price points. Key indicators of this knowledge gap and lack of confidence are:
Offering a benefit package will attract more qualified candidates for employment and will pay off in long term sustainability. Healthcare coverage equates to higher employee retention and greater productivity.
This means for every dollar spent on ESI, employers get back $1.47 in financial benefits. The analysis from the health data firm finds that the average ROI is projected to grow to 52% in 2026, and that businesses that invest more in their ESI programs tend have a higher ROI. *
Ahava Benefits Group provides your employees with access to quality healthcare at an affordable price. By pooling resources and spreading risk across a larger group, you can offer coverage that is often more comprehensive and affordable than individual health plans.
Do you have a small business and provide or want to provide health insurance to your employees BUT are worried they cannot afford their portion of the premiums? WE CAN HELP!
If your business is:
Small group 2 to 50 employees
Has an office located in Bastrop, Bell,
Burnet, Hays, Harris, McLennan, Milam,
Travis or Williamson County
* Owner and employees can live outside these counties
but must live in Texas
Premium assistance is currently available if your employees earn 400% of the Federal Poverty Level or less ($58,320/Year) from the business and not covered by Medicaid or Medicare Part B. The reimbursement is equal to 1/3 of the total premium up to $100 per month. Example - If the premium is $300, one-third or $100 is reimbursed. That means the employer pays $150 (50% of premium of the least expensive plan), $100 is reimbursed and the employee pays $50 (66% savings).
Imagine how much they employee would appreciate that and the best part... it does not cost you anything!
"this has made the difference with some of our potential hires"
"I don't know what my employees would do without it"
"helped us provide health insurance to our employees where we would not have been able to otherwise"
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