One of the most popular employee benefits is group medical insurance. Medical insurance is something everyone needs, because everyone gets sick or needs dental work. However, many people can’t afford the out of pocket expenses for medical care, so they go without.
The cost of prescription drugs alone is very expensive. If employees have a recurring drug expenses, it’s very draining and stressful. Relieving them of this burden does wonders for their level of happiness in the workplace.
Group Medical Insurance Keeps Employees Happy
One of your top priorities as an employer should be to focus on keeping your employees happy. They are the driving force behind your business – whether it’s a small or large company.
Happy employees are more productive. This is common for everyone. When we’re not stressed we’re more relaxed and motivated. When companies show employees that they care about them enough to make sure they and their families are healthy, it makes the job more alluring.
A group medical insurance plan shows care and compassion, which doesn’t go unnoticed. When employees feel valued, they’re more loyal and seek ways to perform their jobs better and go above and beyond.
This is particularly important with customer service-based businesses, such as restaurants and hotels.
Employees are less likely to look for, and accept, a different position if they’re satisfied with their group medical insurance. High employee retention saves money. The cost to hire and retrain new employees is expensive because it’s a long process – advertising, recruiting, interviewing and training.
Group Medical Insurance Improves Business
Along with a happy workplace, a group medical insurance policy improves the bottom line for companies.
Group benefits are more cost effective than individual health insurance policies. Thus, it’s an affordable way for small businesses to incentivize their employees. Additionally, small business owners can also have access to the benefits, and get the medical, vision and dental care they need while still putting capital into their growing business.
Individuals with health benefits are better able to obtain medical care, which includes preventive services. This can help avoid serious health problems later. Having group medical insurance encourages employees to actively maintain their health, which, in turn, improves productivity and reduces absenteeism.
Whether you want to purchase group medical insurance or review your company’s existing coverage, I can help. Contact me today to learn more, and like my Facebook page to stay in the know about group insurance products.