Business & Finance Business Insurance

Why Is Health Insurance an Important Job Benefit for Everyone?

    Protection from Expenses

    • Health insurance is necessary to give protection against health-care expenses that could bankrupt you in case of a major illness or an accident. Most people do not have the resources necessary to pay for large health expenditures out of their own savings. Health insurance also is important because it spreads the risk out among many different people in an insurance pool. The more people to absorb the risk, the less risk any one person will have.

    Reduce Stress and Increase Productivity

    • Productivity can be lost due to the lack of health insurance, at great expense to the company. By providing health insurance to employees, this source of stress is greatly reduced, and the increased productivity can offset the cost of the health insurance benefit.

    Healthy Employees

    • From a human relations standpoint, it is in an employer's best interests to have healthy employees. Workers covered by health insurance are more likely to receive regular preventative care, which can mean less lost time for illness. Also, most employers who are focused on long-term profitability and success find that it is best to care for their employees. Providing good benefits is one way of doing this.

    Attract the Best Employees

    • Competition for the best employee for a job can be intense. Most people are looking for health insurance to be certain that their families are protected from high health-care costs, so they will give preference to employers offering health insurance benefits. Having access to a large pool of qualified applicants when hiring a new employee increases the likelihood that you will find a qualified applicant who is capable of doing a superior job.

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