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Health insurance and other benefits form an essential part of the compensation package that most employers offer their workers. In some cases, insurance is required by law. However, many organizations employ at least some team members part-time. Although you don’t need to offer these employees the same benefits as full-time employees, you may want to consider doing so anyway.
Rules regarding benefits for part-time employees
Under current rules, governed mostly by the Affordable Care Act, employers with at least 50 full-time employees must offer health insurance to all workers who work at least 30 hours a week (making them full-time). Anyone working less than this is considered part-time and therefore does not need to obtain health insurance.
You can optionally provide them with health insurance. However, the ACA requires that health insurance be provided to part-time employees through a consistent written policy. In other words, you can’t pick and choose who gets health insurance, although you can set the minimum number of hours to get it.
Reasons why you should consider offering benefits to part-time workers
Many employers are reluctant to offer insurance or other benefits to part-time employees, considering doing so an unnecessary expense. However, there are some good reasons to consider:
- Attract more talent: People want to find a job that provides health insurance. Other benefits such as retirement plans, paid leave, and health stipends are also attractive. Simply by offering benefits, you can attract more interest and find qualified part-time workers. For people looking for part-time work, benefits can be a deciding factor.
- Reduce trading volume:
By the same token, your team members are less likely to leave their positions if they receive benefits, especially health insurance. It can have a significant impact on trading volume. Hiring and training new people is expensive. Retaining experienced employees usually makes financial sense. - Premium discount: Many health insurance expenses are tax deductible. Therefore, you can expand your compensation packages with a premium deduction, which helps recover some of the cost.
- Let them pay advance tax: With little paperwork, you can allow your employees to pay their portion of premiums with pre-tax funds. This means they can keep more money in their pockets. Again, this is an attractive option for part-time workers.
- Maintain a healthy workforce: Happy, healthy people are more productive and less likely to need sick leave. This translates to a greater return on investment from your employees.
- Improve morale:
There’s a lot to be said for treating your team members well. Offering benefits can be an element in building a positive team culture.
In other words, there are significant financial and productivity advantages to offering insurance and other benefits to part-time employees. If you take a comprehensive look at the decision, it may be financially beneficial to offer benefits.
Get group health insurance
Whether you choose to extend benefits to part-time employees or not, it pays to find the right insurance provider. Sackett & Associates Insurance Services is a group health insurance company in Santa Rosa that can help you find the right coverage for your business.Contact us Today to learn more and get started.
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