If you own a business which has less then 50 employees, providing Business Health Insurance is optional. However, if you wish to provide insurance to your employees, then there are a number of types of insurance one can get. Here is a guide to understanding Business Health Insurance.
The average cost of providing insurance for an employee can be £400 for a single employee and up to £1,055. However, there are benefits to providing Business Health Insurance. For instance, you’ll have the benefit of knowing that your employee will be back to work sooner because you’re providing better health insurance then what may be available to them in the market. Furthermore, health insurance for employees can be a huge attraction and can help you find the best possible employees for your business.
And so, it is evident that Business Health Insurance, while it can be costly, can provide you with a massive advantage over your competitors, which can be crucial to making sure your small business survives.