It's no secret that employees value health insurance benefits. Surveys have shown that workers value health insurance coverage second only to monetary compensation. By offering these kinds of benefits to your employees, you may find it easier to hire and retain the best workers for your company. Which is a bigger asset then expense when you start comparing the figures of paying for benefits verse the time and expense of re-training a new employee.

As a business owner, you may not have health insurance coverage yourself. Perhaps you've considered shopping for an individual plan for yourself and your family, but did you know that by obtaining your coverage through your company, you may get better rates than through the individual market?

Additionally, there are various tax incentives available to you and your employees when you participate in a group plan. For example, businesses can generally deduct 100% of the premiums they pay on qualifying group policies and, by offering group health insurance as part of a total compensation package, you may be able to reduce payroll taxes. Plus, your employees can pay their portion of the monthly premium with pre-tax dollars reducing the amount that they also have to pay. Make sure that you take these incentives into consideration when determining the affordability of a health insurance plan for you and your employees.