What are the advantages of group health insurance to a company or organization?
What does hull insurance cover ?
Nowadays, everyone knows the importance of Health insurance. For Organisations that need qualified staff the company’s employment benefit package is very important for employees to consider which company is the best choice for them. They want reassurance in case if something happens to them and they need to seek good treatment.
What are the advantages of group health insurance to a company or organization?
1. Increase the chance to find potential employees
A company or organization that offers health insurance for employees is able to attract people who are looking for job with good benefits. Besides the company may be able to negotiate for lower salary if offers strong health insurance benefits.
This is often compulsory for applying for a boat berth in a marina or to enter other countries/waters.
2. Tax Saving
A company or organization who offers and pays for group insurance for employees can deduct and get a tax advantage.
3. Lower cost
Insurance company will provide the cheaper premium for group insurance with high benefit if compared with individual health insurance. This is because the risk of claims will be shared with a big group of people which means the premium can be kept lower
4. Control budget
A company or organization can control and estimate the budget in advance because the premium rate for group health insurance is a fixed rate per year and if would like to change the benefit or conditions in renewal year will have more bargaining power than individual’s policy.
5. Healthy employees efficiently work.
When employees have good health and can quickly recover from any disease they will work with happiness and work more efficiently.
They will have a good attitude with the company or organization as well.
As a broker, we work with many insurance companies and are able to ask the quotation from them and do a comparison for our client to illustrate the different premium with the same benefit. We help our client to communicate with employees with training and also support for claim service.
If your company or organization would like to know more information, please contact Lambert brokers as we are a professional broker for group health insurance.
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