Health Insurance for Your Small Business

Considering offering dental insurance to your employees but not sure where to start?  We’ve tried to simplify the process by breaking it down into three basic points for you to consider, which are listed below. 

Should I Offer Dental Insurance to My Employees?

The short answer is “Yes, but….”  What we mean is that dental insurance is an excellent benefit that most employees value—in fact, the next two points below support offering dental insurance as a good idea for your small business.  However, simply put, offering health insurance is much more important.  Families generally do not go bankrupt and people do not experience financial ruin from being unexpectedly hit by dental bills.  But according to a study by the American Journal of Medicine, 62% of all personal bankruptcies filed in the U.S. in 2007 were related to excessive medical bills.  Simply put, not having medical insurance is much more risky than not having dental insurance.  So if you have not yet offered health insurance to your employees, do that first.  Then offer dental insurance next.

Now, there really are excellent reasons to offer dental insurance to your employees.  Read on!

Attract and Keep the Best Employees

Surveys have shown that employees value health and dental insurance benefits second only to monetary compensation when considering where they want to work.  Offering a nice package of health and dental benefits can help you become an attractive employer that can recruit, hire and keep top-performing employees.

Possible Tax Savings

Some group dental plans may allow employees and your business to deduct the dental insurance payments and reduce payroll taxes.  Consult your tax professional in your state for further information on this potential savings opportunity.

Save Money

Because group dental plans function on the concept of pooling risk, they tend to be less expensive than individual dental plans.  This allows you and your employees to obtain dental insurance and services at the most competitive rates, thereby saving you money.