Offered health insurance through work

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Hi All
I have been offered health insurance through work. Whole thing paid by employer. I'm with this company over a year, earn decent wage. obviously i see the advantages on this. but why companies offer this kind of scheme? i want to know your thoughts.

Thank you.

 

Also worth remembering unless your employer ups your salary to compensate for it, you'll be taxed on the value of the benefit as a 'benefit in kind'.

I.e. if the cost of the insurance was £1000 a year and it's all paid for by the employer, you should be paying tax on that £1000 so it'll end up costing you £200/£400 a year depending on your tax band by way of a reduced tax code.

Now if your employer is really nice they may up your salary by the amount required to offset that increase in tax, most don't though.

Still often worth it though.

 

That is the kind of answer i was really looking for. we all know the benefit of this insurance but i wanted to know other side.

Thank all for the reply's.