Why Universal Healthcare will help small businesses
What if I told you that there is a way to lower your company costs, to better compete with the fortune 500s, make your team happier, and attract top-tier talent?
What if I told you that the way to do all that was to simply convert our current healthcare system to a universal single-payer system that guaranteed that every person had quality coverage?
Crazy right? Not really, and let me tell you why.
Providing healthcare to employees is a large expense that any business wanting to compete will have to take on. According to Nerd Wallet, a small business will spend over $6,000 per year on healthcare for a single employee and over $13,000 if they opt for family coverage.
Having just a small team of 10 people with decent wages and healthcare can already cost your company hundreds of thousands of dollars. A universal healthcare system would greatly reduce your expenses while ensuring that each one of your team members has quality coverage that they can count on. Now, does this mean your taxes might go up? Most likely. But even if your taxes increased and you paid $10,000 (now only $1,000 per employee instead of $6,000) more per year you can now hire more employees with lower total costs.
Another advantage of a universal healthcare system is that it would allow small businesses to better compete with the fortune 500s who can afford to spend the most on healthcare benefits. Many of today's workers would rather put their time and energy into a small business that doesn't have the same grind as a huge corporate job. But they are forced to stay because they can't afford to lose their healthcare. This also means that your employees are working for you because they want to.
Overall a universal healthcare system would make workers happier. It would remove the feeling of dread that comes with a job search and allow employees to look more at company culture and roles rather than benefits. This means that each employee you have is more likely to be at their job because it's something they enjoy doing and in a place, they enjoy working.