Benefits help small service businesses hire and keep good technicians. Here are the options and what to consider before choosing.
In this article
- Benefits help you hire and keep people
- Common options for small businesses
- Know the ACA thresholds
- Plan the cost
- Tax advantages
- Timing matters
- Explain the benefit
- Use it in job ads
- Review every year
- If health insurance is not possible yet
- Questions to ask a broker
- Family coverage
- Frequently asked questions
- Frequently asked questions
Benefits help you hire and keep people
Technicians compare more than hourly pay. Health insurance is often the deciding factor when choosing between two employers. Small service businesses that offer benefits, even modest ones, have an advantage in hiring and retention.
Common options for small businesses
- Small group health plans.
- Health reimbursement arrangements, such as a QSEHRA or ICHRA, that reimburse individual coverage.
- Dental and vision plans.
- Employee assistance programs.
Rules and availability vary by state and company size. A licensed broker can explain what fits.
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Know the ACA thresholds
Employers with 50 or more full-time employees, including equivalents, generally face Affordable Care Act employer requirements. Smaller businesses usually are not required to offer coverage, but can still choose to.
Plan the cost
Decide how much the company will pay toward premiums and build it into your pricing. Benefits are a cost of labor, just like wages.
Tax advantages
Employer contributions to health coverage are generally deductible, and some small employers may qualify for tax credits. Ask your accountant.
Timing matters
Many plans start at the beginning of the year. Late fall is the time to compare options and enroll.
Explain the benefit
Many employees do not understand their benefits. A simple explanation of what the plan covers and what it costs them increases appreciation and use.
Use it in job ads
Mention health benefits in every job posting. It often brings more and better applicants than a small raise.
Review every year
Costs and needs change. Review plans and feedback from the team each renewal.
If health insurance is not possible yet
Start with smaller benefits: paid time off, a tool allowance, training or a modest reimbursement toward individual coverage. Even small benefits show people you are investing in them.
Questions to ask a broker
Ask about total cost per employee, network size, employee contribution, waiting periods and how claims support works. Compare at least two options.
Family coverage
Decide whether the company will contribute toward spouses and children. It is often what employees value most.
Price every call so it pays.
We help service businesses set clear policies, book better jobs and turn more calls into profitable work.
Frequently asked questions
Do small businesses have to offer health insurance?
Employers with 50 or more full-time employees, including equivalents, generally face ACA employer requirements. Smaller businesses usually are not required to, but can choose to offer coverage.