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With a barely recovering economy and a new health reform law turning things upside down, small business owners are feeling the brunt of these changes.
But that's not enough to offer an excuse for not getting small business health insurance plans.
These government-mandated insurance plans exempt employers with less than 50 employees from paying fines should they fail in providing insurance to their employees.
Employers with more than 50 employees have it harder since they're going to be asked to pay fines of $750 for each employee that they don't provide insurance to.
If you're a small business owner with less than 50 employees, the tax credits that you could receive for providing insurance to your employees could be substantial.
But there's more to it than that.
It's not just about tax credits and making money, it's about giving your employees something that they truly deserve; health coverage.
It's sad that some business owners simply tell their employees to get an individual health insurance policy even when they know that they can't afford it.
Any of the success that your small company can attain, can only be attained through the help of your workers.
The Sorry Plight of the Small Business American Employee Understand that the government is not trying to coerce you to acquire small business health insurance plans simply because they can.
The law mandates it because of a disturbing trend throughout America.
According to a Kaiser Family Foundation research in 2009, less than 50% of employees of small businesses have health coverage.
This means that people who are the most vulnerable to financial problems due to medical problems are not given adequate financial protection at all.
45,000 people die annually because of insufficient coverage.
Should your employee encounter the unfortunate circumstance of having a disease, and if he does not have medical insurance, would you be willing to pay for his medical expenses? Nobody, or very few people do and that's precisely the reason why you should provide insurance to your employees.
After all, they are the lifeblood of your organization and not only your image stands to suffer but also your credibility to your customers.
Employee Loyalty with Small Business Insurance Plans Small business insurance plans not only provide much needed health care coverage to employees, they can also be a potent tool by which you can gain their respect.
Remember that employees respect employers who also consider their personal well-being important.
The more that you are able to align your company's goal and vision with the employee's own goal and aspirations, the more that they're going to see to it that your business runs smoothly.
This is especially true if your employees cannot afford an individual health insurance policy.
So if you want to get the best out of your employees, make sure that you give them something that they're entitled to anyway.
This would also give you the peace of mind in knowing that your people are well taken care off and won't have to resort to other things such as theft or even quitting to find another job at another company.
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