Amarillo Group Health Insurance & Employee Benefits

The ultimate way to care for your employees and their families is by offering ways for them to protect themselves against illness. This means, you’ll need to have a group health plan in place that presents low premiums that they can afford to cover. It can be hard to find great and inexpensive health insurance and employee benefit plans. As a company in Amarillo, it’s in your best interest to seek the assistance of a cooperative and licensed insurance broker. Taylor Benefits Insurance Agency has been providing Texas based businesses with low cost group health insurance plans and employee benefit plans for nearly three decades.

Our consulting, training and auditing services will provide the management of your business with the tools they need to understand the plan better. Our online HR management tool is also available for use. This explains your plan in detail so that management can help all other employees of the company to understand what’s included before they make any decisions.

Amarillo, TX Large Group Health Insurance Plans

Typically, the larger the company, the more likely it is to offer health insurance to its workers. Following the passage of the Affordable Care Act (ACA), every company with more than fifty employees not already offering health insurance was required to start. Businesses that had been providing insurance had to follow the new compliance rules. For example, companies must ensure that the premium share they assign to employees is less than or equal to 9.12 percent of their gross income (for 2023). That limit is for individual coverage and doesn’t apply to dependent policies.

Also, adult children can keep coverage through a parent’s policy until they turn 26, regardless of whether they are in school or married. Plus, people can’t be turned down or charged a higher premium if they have a pre-existing condition. The ACA also implemented coverage requirements, with ten essential benefit areas that every policy must cover:

1. Ambulatory patient services (outpatient care)
2. Emergency services
3. Hospitalization, including surgical and medical
4. Maternity and newborn care, including delivery
5. Mental health and substance use disorder services
6. Prescription drugs
7. Rehabilitative services and devices
8. Laboratory services
9. Preventative and wellness services, including chronic disease management
10. Pediatric services, including dental and vision care for children under the age of 19

Amarillo, TX Small Business Health Insurance Plans

Small businesses must balance the goal of offering health insurance coverage for their workforce with their preference to stay within a budget. Coverage can seem prohibitively expensive to some smaller businesses, and they don’t have to offer coverage if they employ fewer than fifty workers. Still, many companies want to be able to provide coverage, and recent improvements in federal assistance are bringing health plans to more small-company workers than ever. The Affordable Care Act increased support for small business owners by providing a tax credit for some and an accessible marketplace for plans.

Amarillo TX Employee Benefit Plans and Employee Benefit Packages

An attractive employee benefits plan can help companies recruit and retain employees. While the candidate’s primary consideration is likely the pay rate, most also compare the benefits before accepting an offer. Health insurance is always an excellent foundation for a competitive benefits plan.

Paid time off is also universally requested. Texas companies don’t have to offer paid or unpaid leave to employees. However, allowing time for illness and vacation is helpful in a competitive labor market.

After those basics, employees also like to receive dental coverage, vision insurance, childcare assistance, retirement plans, and flexible scheduling policies.