While businesses with fewer than 50 full-time employees aren’t required by the Affordable Care Act to offer health insurance, doing so can be a game changer when it comes to talent acquisition and retention.
Why Health Benefits Matter More Than Ever
Today’s employees value peace of mind. According to a study by the Employee Benefit Research Institute (EBRI), 80% of employees would choose a job with good health benefits over one without, even if it offered a higher salary. For many, especially younger workers and families, it outweighs other traditional perks.
Small businesses that offer meaningful health coverage signal that they care about employees well-being—physically, mentally, and financially.
What Small Businesses Can Offer with PHP Plans
We specialize in flexible, customizable plan options designed to meet the needs of local, small businesses. With PHP, businesses can:
- Choose from a range of plan designs including HMOs, PPOs, high-deductible health plans (HDHPs), and traditional co-pay structures.
- Offer tiered network options to give employees more control over cost and provider access.
- Integrate wellness tools like telemedicine, mental health resources, and preventive care benefits.
- Leverage local networks that connect members to trusted providers and hospitals.
We also provide easy-to-use administration tools and local customer service support, a major advantage for small HR teams.
Building a Culture of Health: Low-Cost Wellness Ideas
Even beyond traditional insurance, there are impactful ways to support employee health:
- Subsidize or reimburse fitness memberships, local gym partnerships, or wellness apps.
- Offer wellness stipends that employees can use for therapy, wellness classes, or health coaching.
- Host monthly wellness challenges or "step competitions" that foster camaraderie and movement.
- Partner with local farms or markets to deliver fresh produce to the office.
- Provide mental health support through EAP programs or access to local therapists covered under your plan.
Affordability Strategies for Small Businesses
Affording health benefits on a tight budget is possible with a few strategic steps:
- Consider a high-deductible plan with an HSA, which often has lower premiums and encourages consumer-driven care.
- Explore PHP’s level-funded plans, which offer predictable costs, potential savings, and refunds for low claims.
- Utilize the Small Business Health Care Tax Credit if you meet eligibility criteria (e.g., fewer than 25 employees with average wages under $50,000).
- Contribute a fixed dollar amount per employee toward premiums, allowing them to choose the plan that best fits their needs.
Flexibility Is the Future
Modern employees appreciate choice. By offering flexible plan designs and the ability to personalize care, small businesses can position themselves as progressive, thoughtful employers.
Final Thoughts
Small businesses don’t have to choose between staying lean and supporting their teams. Health insurance is more than just a benefit, a strategic tool that builds trust, loyalty, and long-term success. With the right plan through PHP, paired with wellness initiatives and smart cost strategies, your small business can stand out to top-tier candidates who value their health as much as their paycheck.
Need help finding the right fit? Connect with PHP to explore tailored options that meet your team’s needs and budget. Speak with your benefits advisor today and request a quote from PHP.
