Nearly all larger employers in the United States offer group health insurance to their employees. This is the ultimate way to attract employees while hiring and to keep them around after they’ve been hired. Health insurance and other benefits become increasingly more expensive and it is much cheaper for individuals to afford these benefits when they are offered through an employer. It is surprising that many individuals seek jobs that offer great, all-inclusive benefit plans and packages. It gives them security in knowing that their wellbeing and the wellbeing of their families are protected by insurance.
An employer sponsored insurance plan is paid for by the company on behalf of their employees. This is how most of the U.S. operates. Most employers pay about 85% of the insurance premiums for their employees while the employer pays about 75% of the premiums for the employee’s dependents. In 2010, the average premium for health coverage on one person was slightly over $5,000 annually. Workers were then asked to pay around 19% or around $900 of this amount. Since the 1990’s these rates have remained rather steady.
It is no secret that as the owner of a business, you should be offering your employees some sort of health and benefits plan. This is one of the only ways an individual can prepare for their future. Luckily, even with the costs of health care, it is beneficial and even fruitful to offer such plans to your employees and here’s why…
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