It seems that health insurance is never far from the headlines these days. The Affordable Care Act has caused controversy in recent months, and it has shone a bright light on employer-funded health insurance. Companies that employ more than 50 workers will be required by law to provide health insurance for their workforce. While this is seen by many companies as a needless drain on resources, as well as a threat to jobs, it could have some profoundly positive effects on a company’s fortunes.
Healthy Workers Are Productive Workers
There is some evidence that healthy workers contribute more to a business than those struggling with illness, stress, and overall poor health. In many cases, it is the added stress of finding affordable healthcare and the worry of not having it at all that can lead to health issues.
Some of the recent changes instigated by the Affordable Care Act are designed to increase the prevalence and regularity of preventative care programs, as well as the ongoing healthcare education of policy holders. Giving people regular health checks, advising them on healthy lifestyle choices, and addressing small health issues before they become debilitating can leave them fitter, happier, and more productive. Many believe that the cost of providing healthcare for employees can be outweighed by the benefits of a happy and healthy workforce.
A Case Study
Nowhere is the link to health and productivity in the workplace better demonstrated than at Statistical Analysis Systems (SAS) – a major software company based in North Carolina. Jim Goodnight, the company’s founder, believes in treating workers as his company’s greatest assets. As well as providing fully-funded health insurance, the company also offers extensive sports facilities, nutritious food, a work-based clinic, and a range of medical services as part of a comprehensive package of employee benefits.
Only 35 years since its inception, SAS has an annual turnover of more than $2 billion. But more interestingly, its annual staff turnover rate is just 4 percent – a full 80 percent lower than the industry average. Perhaps the most impressive statistic of all is the company average of just two sick days per year, which is outstanding considering employees are entitled to unlimited sick leave.
Rather than dwell on the implications of providing health insurance for workers, companies may be better served by considering how a workforce without any coverage will be affected. Providing health insurance gives workers a real stake in an organization, and it makes them truly appreciate their employment. But most importantly, it helps workers to remain healthy and stress-free – something that will increase productivity and profitability over time.
If you have any questions about Fort Lauderdale health insurance for workers, or anything related to Fort Lauderdale business insurance, call Pro Player Insurance Group today on 855-367-7744, and one of our experienced insurance agents will be happy to discuss your options with you.