Many things contribute to a productive workforce and positive company culture, but one element that is often overlooked is access to health care coverage. In today's fast-paced world, where productivity and efficiency are key to any organization's success, it's equally important to prioritize the health and well-being of employees. In general, health insurance alleviates numerous unknowns, such as where to go for care or how much it’s going to cost, ultimately helping employees go about their everyday lives with confidence.
No one wants to get sick, but it happens; therefore, people need to seek medical help from time to time. The Affordable Care Act (ACA) 
requires businesses with 50 or more full-time employees to provide health coverage to their employees, but what about small businesses under 50 people? Offering access to coverage is no longer seen as just a benefit, but rather a necessity. Let’s take a closer look at why health insurance is so important to employees.
When it comes to paying big medical bills, health insurance is there to help. In the Employee Benefit Research Institute (EBRI) 2022 Workplace Wellness Survey , six in ten employees say that being offered health insurance through their employer contributes a lot to their financial security. Taking care of employees goes beyond just financial protection; it plays a crucial role in preventing long-term consequences that could harm their overall well-being and quality of life. By reducing the financial burden, employees experience less stress and anxiety about medical expenses; this peace of mind contributes to higher morale and job satisfaction.
Visit our insurance basics to learn how health insurance can positively affect health care costs.
By understanding health plan policies, employees can successfully navigate the health care space with confidence. Staying informed comes with many advantages:
Health care coverage is especially important to those with families. Each family is unique, but sometimes one person is responsible for providing health insurance for everyone (for example, one working spouse or a single parent). Comprehensive coverage for the whole family ensures that the employee and their family can receive proper medical care when needed. From preventive services to emergency treatments, health insurance benefits provide stability to loved ones.
Since the pandemic, mental health has received more attention, especially its role in overall well-being. Health insurance plans that cover mental health services provide employees access to various services and professional help when dealing with challenges. By proactively addressing concerns, employees can better handle stress, anxiety, and other conditions that may affect how they work; it can also help them manage negative feelings outside of work. Insurance coverage for mental health also reduces the stigma associated with seeking help, fostering a healthier and more supportive work environment.
Learn how our small business health insurance plans cover mental health.
According to the EBRI 2022 Workplace Wellness Survey, three in four employees believe their employer is responsible for ensuring employees are mentally, emotionally, and physically healthy. Aside from tax incentives, offering health insurance reaps a trade-off of benefits for both employer and employee.
One of the primary advantages of offering health insurance is that it fosters a productive workforce. When employees are stressed over aspects of their personal life, their work may be impacted. Employee health benefits, such as having access to care when needed, can help alleviate external stressors and reward employers with a more focused team.
Small business owners make huge investments in their people. Compensation is likely the largest expense an organization has, but just as you would insure your business from damage, it makes sense to insure your employees from harm as well. Enabling employees to seek medical attention without delay increases the chances that they can return to work quickly and safely.
In today’s competitive job market, offering a comprehensive benefits package greatly attracts the best candidates. A 2022 MetLife Study shows that health insurance is the most prioritized job benefit, with 79% of employees calling it a “must-have.” When offering a health plan to prospective employees, it reflects the company’s culture and the value they place on employee satisfaction.
Providing health insurance is not only important in attracting top talent but also retaining it. The EBRI 2022 Workplace Wellness Survey reports that 73% of employees say health insurance is the most important factor in deciding whether to stay in their current job. Those who feel valued and supported within an organization will likely stay long-term, reducing turnover and associated costs with recruitment and training.
Investing in employee wellness is a strategic move in today’s competitive landscape. From reducing financial strife to providing improved access to care, employer-provided coverage has significant value. When employees have the tools to prioritize their health, they become more constructive and motivated in their work.
