When I was running our IT consultancy, we provided all our employees with medical coverage, and not only that, we covered 100% of the premium, something even most corporations do not do. Yes, we were forced to close the business, but not because of high wages, or health premiums, but because of no new projects (thank you, the Great Recession). If you can't provide a decent compensation to your employees (and yes, that includes decent benefits, including medical) you are in the wrong business.
Everybody and his mother would be a successful entrepreneur if they could treat their workers as slaves, herd them into company dormitories, wake them up at midnight with a whistle, give them a cup of tea and a biscuit and ask them to work next 14 hours on it, in unsafe factories, exposed to unsafe material. When that is not enough, hire their children, they are even cheaper. And along the way remind them that "low wage is better than no wage." While your company amasses historic, record-breaking profits and cash reserves.