Real estate isn’t just a career—it’s a way of life. Each and every one of you brings energy, resilience, and dedication to the table, making this profession as dynamic as the people in it. But let’s face it, the demands of real estate can take a toll. That’s where providing health insurance comes in—a simple, powerful way for agency owners and brokers to support their teams. It’s about more than just coverage; it’s about celebrating your team’s hard work and giving them the tools to thrive.
Think about it: what could be more important than taking care of the people driving your success? Comprehensive health insurance isn’t just a benefit—it’s a foundation for a successful, thriving business. And with so many options available, you can choose the right solution that fits your team’s unique needs, fostering growth, loyalty, and well-being.
Ready to make a difference? Let’s walk you through everything you need to know about health insurance for real estate professionals—because a healthy team is a successful team.
Why Health Insurance Matters for Real Estate Agencies
As a real estate brokerage owner, you understand that your team is your most valuable asset. Health insurance is more than just a benefit. It’s a strategic tool for attracting, retaining, and supporting top real estate talent. Independent contractors and sales professionals are increasingly looking for agencies that provide comprehensive health coverage.
Offering health insurance can dramatically improve your agency’s competitive edge. It demonstrates a commitment to your team’s well-being, reduces employee absenteeism, and fosters a culture of care and support. For many real estate professionals, health benefits can be the deciding factor when choosing between competing agencies.
Health Insurance Options for Real Estate Brokerages
Real estate agencies have multiple approaches to providing health insurance. Group health insurance through your brokerage is the most effective way to support your team. Multi-carrier options like CaliforniaChoice provide flexibility for small to medium-sized agencies, allowing you to offer comprehensive coverage that meets your team’s diverse needs.
Larger real estate networks, such as Re/Max or Coldwell Banker, often provide group health insurance options through their professional partnerships. For independent agencies, working with a local health insurance broker can help you navigate the most suitable plans for your specific team.
Understanding ACA Requirements for Real Estate Agencies
If your real estate agency has 50 or more full-time employees, you may be required to offer health insurance under the Affordable Care Act (ACA). Even smaller agencies can benefit significantly from providing health coverage. The IRS provides calculators to help determine your status as an Applicable Large Employer (ALE).
If you’re not sure if your business is an ALE, you can use a group size calculator to determine your ALE status. More information is available on the IRS website.
CaliforniaChoice offers the following ACA calculators on its website:
- ACA Full-Time Equivalent calculator
- ACA Penalties calculator
- ACA Safe Harbor calculator
Employers consistently rank health insurance among their most-valued employee benefits. A study by the Society for Human Resource Management (SHRM) found 88% of employers believe health-related benefits are “very important” or “extremely important.” That puts health benefits ahead of retirement savings, family care, leave, and seven other benefits.
For employees, health insurance is also viewed favorably. According to the 2023 MetLife Employee Benefit Trends Study, medical/health insurance is considered a top “must-have” benefit by 79% of employees. That put it above paid leave (77%), a 401(k) or other retirement plan (75%), dental insurance (73%), or vision care or a vision discount program (70%).
Best Health Insurance for Real Estate Agents
When selecting health insurance for your real estate agency, consider these key factors:
- Comprehensive coverage that supports your team’s diverse needs
- Flexibility in plan options
- Cost-effective solutions for your business
- Potential tax advantages
CaliforniaChoice offers unique advantages for real estate agencies. With the ability to offer HMO, PPO, and EPO choices, you can provide your team with flexible health insurance options. You can choose to contribute a fixed percentage (50% to 100%) or a fixed dollar amount, with the same contribution applied consistently across your team.
Why CaliforniaChoice Works for Real Estate Agencies
With more than 45% of CaliforniaChoice groups in the services industry, we understand the unique needs of real estate professionals. Our multi-carrier, employee-choice private health insurance exchange has been serving California small businesses since 1996.
Take the Next Step for Your Agency
Choosing the right health insurance requires expertise and strategic thinking. A specialized health insurance broker becomes your most valuable partner in this journey. They provide comprehensive guidance by analyzing your agency’s specific requirements, comparing group health plans, and offering tailored recommendations that align with your business goals. You can get in touch with a local health insurance broker here.
