When applying for jobs, employees want to see and know about the benefits your company offers. While no business is required to offer health insurance, it can certainly count against you if you don’t offer this benefit to your employees.
If you don’t offer a benefits package that includes insurance, you risk losing future employees to other companies who do offer benefits.
But insurance can eat up so much of your profits.
Many small businesses are finding alternatives to traditional health insurance options as health care and insurance costs increase every year.
Through a level-funded plan, you can lower one of the highest expenses your company has.
What is a level-funded plan?
In a level-funded health plan, the employer pays a predetermined amount for each employee’s coverage. The employees pay their premiums and may have additional copays, or deductibles.
If you’re interested in learning about what a level-funded plan is and how they work, find out more through one of our previous blogs on the topic. We recommend this one.
How can a level-funded plan decrease your health insurance costs?
Implementing a level-funded plan in your company could be cheaper than traditional health care plans. The average cost for this type of plan is between $100-$200/month less than what you would otherwise spend on a standard HMO or PPO option.
The first step is to find an affordable, reliable level-funded health care plan that offers excellent care. As a business owner, one of the most important things you can do for your employees is provide health insurance that meets their needs.
A level-funded plan with high-quality healthcare coverage will not only ensure good access for all employees but also provide you with savings on monthly expenses and keep you competitive in today’s job market.
Talk to our team to get a quote for your small business and learn more about how a level-funded plan could lower your health insurance costs.