As a small business owner, you are well aware of the many challenges that you face. You have to ensure that your employees are working effectively to bring a continued revenue stream to your business. It really does not matter if you are in manufacturing, selling a product, or providing services, your employees are important to your bottom line. You know that offering benefits to your staff will help you retain good employees, as well as providing an attractive place to work. One important benefit is health insurance for small business owners.
Health insurance for small business owners is one of the biggest challenges facing Canadian small business owners. This is due to the concerns over the annual increases in the cost of traditional insured employee health benefits. In Canada, the CHA or the Canada Health Act was adopted in 1984 and specifies the criteria and conditions that govern territorial and provincial health insurance programs. These programs need to meet these regulations in order to received federal transfer payments provided by the CHA.
When considering health insurance for small business owners, it is interesting to note that a Strategic Counsel survey found that 91 percent of Canadians prefer their medical insurance Canada programs over those found in the United States. This may be due to the fact that in Canada there are no deductibles on basic health care, and the co pays are either extremely low or non existent. This is important when providing health insurance for small business owners.
The Canadian health care savings account was designed to assist small business provide better benefits for their employees. This CRA health spending account can also provide better premiums for health insurance for small business owners.
Make sure that you understand the intricacies of health insurance for small business owners programs so that you can get the best health insurance for small business owners. When you can provide additional benefits, you will be able to attract and retain employees. Your employees will be pleased with their coverage, and you will be able to keep those costs in line.