- Providing world class service and value for employee benefit group plans since 1987
Minnesota Group Health Insurance & Employee Benefit Plans offer a variety of expert advice, enhanced features and user-friendly tools to navigate complex insurance plans. All products are meticulously crafted to focus on your distinctive requirements and financial plan. The advantage of our services lies in their extensive range and flexibility, providing a way to customize solutions that best fit your needs.
With your interest at the forefront, Taylor Benefits Insurance Agency is a leader in the insurance industry, providing competitive products and superior service. Over the past 25 years, we have grown tremendously, curating a massive range of insurance options to offer businesses of all sizes, not only in Minnesota but across the nation. We’ve become the go-to place in the industry, providing assistance with a variety of health plans, including PPO and HMO options, all at a competitive price with an efficient delivery.
Our licensed insurance brokers boast sharp negotiation skills and comprehensive knowledge of the health insurance and employee benefits options available. One of our distinguishing features is our large network of health insurance companies we work closely with. This gives us the advantage of flexibility, helping you lower your deductible, manage your copay costs, and creating a health plan bespoke to your company’s needs and the needs of your employees.
Choosing the best large group health insurance plan in Minnesota typically involves comparing coverage with costs. It’s about finding the right balance to offer a plethora of products that cater to the diverse needs of employees. As an employer, it’s crucial to consider tax credits and compliance with the affordability standards established by the ACA, providing the minimum essential benefits. In Minnesota, in addition to the ten essential benefits the ACA requires, health insurance must cover a range of additional benefits:
One increasingly popular way for large employers to save money and gain flexibility is self-funding. This option allows businesses to customize their program according to their needs. Nevertheless, it’s helpful for Minnesota companies to be aware that if their health insurance coverage is entirely self-funded, it is not required to comply with the list of mandated benefits above (but must provide the ACA essential minimum services.)
Employers that choose self-funding often do so for financial reasons, preferring the flexibility of managing payments over the specific costs associated with traditional insurance coverage. Instead of paying upfront, a self-funded company can hold onto the funds it expects to pay out for claims, allowing these funds to generate interest or be used elsewhere in the business until needed.
This way of managing funds brings significant advantages, such as improving capital usage and reducing overall costs by two to three percent by avoiding the state health insurance premium taxes.
Yet, most self-funding companies opt to have their claims administered by a third party. This strategy provides access to the necessary expertise for reviewing and managing claims properly without requiring advance payment. Your Taylor Benefits Insurance specialist is available to discuss the pros and cons of self-funding with your business.
Small businesses striving to provide quality health insurance to their employees may want to consider the variety of coverage options available from the ACA SHOP marketplace. SHOP (Small Business Health Options Program) offers a range of products specifically designed to assist small business owners that want to offer health or dental coverage to their employees. One of the key features of SHOP is its accessibility at any time of year.
As an alternative, small businesses not offering health insurance can assist with their employees’ healthcare costs by creating a Qualified Small Employer Health Reimbursement Arrangement. This approach allows employers to contribute non-taxed money to an employee’s expenses, including premiums and copayments, offering flexibility akin to flexible spending accounts.
Apart from health insurance, one of the most coveted benefits in Minnesota is a retirement plan. One way employers can help their workers plan for retirement is by establishing a qualified health savings account, giving them the flexibility to save and invest for their future.
Even small employers can typically create a 401(k) or IRA to benefit their teams. In the realm of healthcare things have been affected by factors like covid, but many employers choose safe-harbor programs that provide grants to reduce the burden of discrimination testing. In any case, as a part of your application, your Taylor Benefits Insurance consultant can help you evaluate your health insurance coverage options, including mnsure, networks and medicare or medical assistance as suitable options.
Dial 800-903-6066 to sign up for a free consultation on Minnesota Group Health Insurance & Employee Benefit Plans. Let our seasoned customer service team provide astute advice and tools to enhance your coverage choices, including guiding you in selecting best prescriptions plans.
We can help your Minnesota business attract and retain employees by providing them with the best health insurance coverage and benefits at the lowest possible premiums and rates. We will also perform yearly audits to ensure that your coverage plan continues to meet the standards of the Affordable Care Act and medicare requirements. It’s important to obey all local, state, and federal laws to avoid government penalties and maintain eligibility for potential tax breaks and grants.
The above coverage plans are among the items that job hunters seek when they want health insurance and employee benefit packages. At Taylor Benefits, we can modify your group plan to include nearly anything you want, including assistance with prescriptions and navigating mnsure networks for medical assistance. Our esteemed customer service team is prepared to offer advice and assistance in navigating these aspects of health plans.
All you have to do is call in and discuss your group coverage options with one of our knowledgeable insurance brokers. These members of our team are ready to support you in this process, even guiding you through the maze of mnsure application. Drawing from our expansive database of different insurance carriers, they’ll then form a custom coverage plan just for you. For instance, taking into account network considerations, they might suggest one carrier over another for simplified integration with existing medical assistance provisions. Once you are satisfied, you’ll have access to a FREE quote. Don’t be surprised if you begin to notice the positive difference a tailored insurance plan can make for individuals and their teams.
Are you looking for Minnesota Group Health Insurance & Employee Benefits Plans, including options supplemented by medicare or other networks? Click the quote button to get an instant quote. As an example, this is just one of the many ways you can start tapping into the extensive resources and support we have available.
Health insurance for large groups of employees is defined as a policy that covers 50 or more individuals, which often includes a spectrum of options from medicare to prescriptions coverage. There is no maximum number of members for large-group health insurance plans. All eligible employees receive the same health insurance coverage under large group plans, simplifying not only its content but its form too, thus making plans straightforward and easing navigation during enrollment.
Health insurance for large groups of employees is defined as a policy that covers 50 or more employees. There is no maximum number of participants for large-group health insurance plans. All eligible employees receive the same health insurance coverage under large group plans, making plans straightforward and simplifying enrollment.
The minimum employee requirement for group plans isn’t as high as many small business owners believe. As a small business owner, you must have at least one employee to qualify for a small business health insurance plan. SHOP (Small Business Healthcare Options Program) offers resources and information for small businesses evaluating health insurance options.
Employers often offer their employees benefits in addition to salaries. Life insurance, retirement benefits, paid leave, disability insurance, and health insurance plan are the most common employee benefits. Depending on the company, employees and their families may have access to other perks, such as medical and dental insurance, legal coverage, pet insurance, and college debt relief.
In the United States, benefits account for nearly a third of eligible health care expenses, on average. However, the cost for any company depends on what benefits it chooses to offer, as well as the number of eligible employees covered.
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
We’re ready to help! Call today: 800-903-6066