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Small business owners in Goldsboro, North Carolina, know that it’s a huge challenge to find good staff. You’re having to compete with big companies in terms of benefits and pay. Not an easy feat. But one of the biggest factors in attracting and keeping the best employees is whether or not you offer group health insurance.
Why Group Health Insurance Is a Big Deal for Small Teams
Only about 30% of American small businesses with fewer than 50 employees offer group health insurance. And that number has seen a steady drop in the last 20 years. That’s not good, but it can be good news for you. Because if you offer group health insurance and your competitors don’t, you’ve got a solid chance of attracting the best professionals i your area.
According to a KFF survey conducted in 2024, 67% of workers said they won’t take a job if it doesn’t come with health insurance. That translates to 2/3 of people who say it’s a dealbreaker.
North Carolina Law and Small Group Coverage
In North Carolina, you’re under a guaranteed availability in the small group market for insurance. Which means, an insurance company can’t turn your business away or charge you more based on the history of your team’s claims.
Federal law doesn’t require small employers with 50 or fewer full-time employees to offer group health insurance. But as we’ve discussed, doing so increases your chance to compete better in our area’s tight labor market.
What to Look for in a Group Health Insurance Plan
Not all plans work the same way. Some of them require you to have a minimum number of employees. Others have contribution rules. These determine how much of the premium the business owner has to cover. Wayne Realty & Insurance Co Inc. knows this stuff inside and out. You don’t have to figure all this out on your own or become an expert. We’ve got you.
Your Business and Group Health Insurance in Goldsboro, NC
Replacing just one employee can cost you 30% or more of their annual salary. So it pays to offer benefits like group health insurance that helps you find the best people to help you run your business. Reach out to Wayne Realty & Insurance Co Inc. today to make sure you’re in good shape with your offerings.