Health insurance for Corporations
Protection for your staff and teams
Health insurance for Corporations
Protection for your staff and teams
What You Need to Know About Health Insurance for Corporations: Subsidies, Tax Deductions, and More
If you are a business owner with less than 50 employees, you may be wondering if you are required to offer health insurance to your employees. The answer is yes! All businesses with 25 or more employees are required to offer health insurance, but there are some subsidies and tax deductions available to small businesses that can help.
Let’s review the different types of health insurance available for corporations and LLCs, as well as the benefits and tax deductions associated with each type.
Does my Company Need Health Insurance For Employees?
If you have 25 or more employees, you are required to offer insurance by law. However, if you are a small business with less than 50 employees, there are a range of benefits to getting health insurance for your employees.
Taxes on the Mind
Corporations and LLCs with less than 50 employees qualify for large tax deductions. You must contribute 50% (minimum) of the employee’s monthly premiums, but this is 100% tax-deductible. This can help offset the cost of health insurance for your employees.
If you decide to cover more, you are free to do so. However, 50% is the current mandatory amount.
Types of Insurance for Your Employees
You have complete control over what to choose for your employees. Some employers opt for vision, health, dental, or general medical insurance. Others choose to provide a combination of these services. It is important to shop around and compare prices and coverage before making a decision. A great insurance agency can help you find the right plans, set them up, and get your employees the most coverage for the lowest price.
Covered California
If you are based in California, you will want to be sure to set up your health insurance properly in order to take advantage of all the savings and programs available through Covered California as well.
Your Company’s Insurance Plans Benefit Everyone
No matter what plan you decide to get, there are a lot of benefits for your company and your employees that can’t be overlooked when making these important decisions.
Show You Care
When you offer health insurance, you are showing your employees that you care about their well-being. This can lead to increased loyalty and productivity from your team.
Protection in Difficult Times
Life is unpredictable, and health problems can arise at any time. Having health insurance provides peace of mind for both you and your employees, knowing that should something happen, there is a safety net in place.
Loyalty
Employees that feel valued are more likely to stick around. When you offer health insurance, you are indicating that you value your employees and want to invest in their future with your company.
How an Insurance Agency Will Help You Find the Best Plan and the Most Coverage for the Lowest Price
Working with an insurance agency is the best way to find the right health insurance plan for your needs. An insurance agent will be able to help you compare different plans and find the one that offers the most coverage for the lowest price. They will also be there to help you if you have any questions or need assistance filing a claim.
If you’re a sole proprietor and are ready to get covered, contact Tezana Insurance Services today. We can help you find the right health insurance plan with optimal coverage for your needs and budget.
“We’ll get you the best health insurance at the best price for your business!”
Getting you the best health coverage is our mission