If you are like 72 percent of small business owners who are concerned about the cost of group health plans, you are in good company. This figure seems high considering that most businnesses in Canada have health care costs paid through funding from income taxes. Many businesses are trying to find ways to use small business health insurance tax credit advantages, as well as finding stable premiums.
The health care system in Canada is guided through the provisions of the Canada Health Act of 1984, and as such has laws and regulations that affect health plans, benefit services, as well as small business health insurance tax credit policies. Canadian health insurance generally covers surgery and other services including psychotherapy, in clinics and doctors offices. It also covers dental surgery at dental offices, as well as laboratory tests.
In a survey of Canadians small business, approximately 33 percent do not see the benefits to their businesses when providing additional health benefits. However, 60 percent of employers are concerned about the quality of health plans offered to their employees.
Businesses can take advantage of small business health insurance tax credit systems when offering benefits to their employees. The cost of offering benefits to employees can be lowered when enrolling in small business health insurance tax credit programs. This will allow employers to offer benefits, while still keeping costs in line.
When an employer offers benefits to employees while using small business health insurance tax credits, employees will reap the benefits of having access to health services to help them stay healthy. With a healthier employee base, employers will see fewer absences due to illness. This is a great example of how providing health insurance and using small business health insurance tax credit benefits can help a company.
There many professional resources available to companies and businesses that are interested in small business health insurance tax credit programs. You can contact one and discuss the advantages of providing group health insurance to your employees, and how small business health insurance tax credits can lower your costs.