Louisiana Group Health Insurance & Employee Benefit Plans

Finding affordable health insurance coverage for employees is not always a simple task for an employer. Here at Taylor Benefits program, we work closely with our Louisiana business owners and business managers to find the plans that cost the company the least while making it affordable for employees to have quality group health insurance coverage and other employee benefit plans.

Louisiana group health insurance plans

Employees who may be nearing their retirement years or even those just starting in the workforce need to have stable retirement plans available to ensure a healthy and financially stable future. Generally, we have access to the best insurance plans in Louisiana, and we can offer our clients plans that won’t break the bank and will also be affordable to their employees.

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When you are ready to get started with affordable group health insurance or find more information on employee benefit plans, be sure to call and speak to an agent or fill out the FREE quote form on this page for any assistance.

Louisiana Large Group Health Insurance Plans

Many large employers regularly review their healthcare insurance plans for opportunities to improve their offerings and save money. Since health insurance coverage must meet the ACA’s affordability standard, companies must hold down the share that workers pay to no more than 9.12 percent of the employee’s gross income.

To illustrate, if an employee earns $50,000 annually, their monthly premiums can’t exceed $4,560 for individual coverage. Currently, the affordability standard doesn’t apply to family health insurance coverage.

Further, the health plan must be designed to cover at least sixty percent of the standard worker’s health and medical needs and provide access to:

  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

Still, employers have the freedom to determine whether to offer an HMO, PPO, POS, or traditional indemnity plan. They can also structure the program to incorporate a high deductible with a health savings account option.

Many large companies give employees more than one health plan to choose from. The employer pays a set amount, and workers are responsible for the rest. If one program meets the affordability threshold, others can cost the worker more. Taylor Benefits Insurance is here to advise you on the best group plans for your large or small businesses.

Louisiana Small Business Health Insurance Plans

Small companies often provide a managed care or preferred provider organization plan when offering small group health insurance coverage to their workers. One reason for small business health insurance is that these structures are typically less expensive than some other arrangements, and small companies often hesitate to accept the risks of self-insuring.

Depending on the network size, subscribers may feel constrained by the available providers. Small business health insurance may pay less or nothing for medical care the patient receives from an out-of-network doctor or hospital. That fact means that it’s crucial for subscribers to receive timely and transparent information about what is covered and where they are allowed to seek care.

Louisiana Employee Benefit Plans and Employee Benefit Packages

In Louisiana, no benefits are required other than those federally mandated. However, paid time off is offered voluntarily by many companies. If offered, any accrued but unused time must be compensated to the worker upon termination.

Louisiana does require companies with more than 25 workers to allow six weeks of unpaid leave for pregnancy (longer if the pregnancy is diagnosed as disabling).

A good employee benefits plan will include health insurance and paid time off for vacation, illness, and holidays. Other requested perks include:

  • Retirement savings plan
  • Dental and vision insurance
  • Flexible working schedules
  • Childcare assistance

While large businesses may provide a broader range of traditional benefits, some small businesses can personalize schedules and offer a culture that can’t be matched in a sizable organization.

Taylor Benefits also offers help with the following health and financial savings plans:

  • Group health insurance plans
  • Medical, dental, and vision insurance
  • ACA (Affordable Care Act)
  • Group life insurance and long-term care
  • Group retirement and 401(k) savings plans
  • Health savings plans (HSA)
  • Pension plans
  • Disability insurance (short and long-term)
  • Section 125 cafeteria plans
  • Employee benefits & wellness plans
  • Louisiana large group health insurance

Relevant Statistics

  • Over 80% of companies in Louisiana offer group health insurance to their employees.
  • Louisiana group health insurance plans cover an average of 90% of medical expenses.
  • More than 70% of individuals with group health insurance in Louisiana report high satisfaction with their coverage.
  • The average deductible for Louisiana group health insurance plans is $1,500 per year.
  • Approximately 95% of hospitals and healthcare providers in Louisiana accept group health insurance plans.

General Facts

  • Louisiana requires employers with 2 or more employees to offer group health insurance.
  • Group health insurance provides coverage for a group of people, usually employees of a company or members of an organization.
  • It typically offers a range of benefits, including medical, dental, and vision coverage.
  • Employers may choose to contribute towards their employees’ premiums, making it more affordable for them.
  • Group health insurance plans in Louisiana are regulated by the Department of Insurance to ensure compliance with state laws and protect consumers’ rights.

Louisiana Group Health Insurance & The Affordable Care Act

The Affordable Care Act (ACA) became effective on January 1, 2014, and was implemented to ensure that all Americans had viable access to affordable healthcare options. This means that large employers have the responsibility to offer group coverage plans to their employees.

While some employers worry that having to offer health insurance coverage plans means their business may suffer financially, we can help to alleviate that stress and provide adequate cover for your employees. Our clients know that robust coverage helps employees manage health issues but doesn’t have to impact the company’s profits adversely.

Regulations are seemingly changing year after year in the insurance market, but here at Taylor Benefits, we continue to offer a variety of health insurance, retirement, and health savings plans that benefit our Louisiana customers.

When you need to get started with ACA compliance and with adding a quality health insurance plan for your employees, be sure to fill out our FREE quote form to get started today.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Louisiana

If you have any questions regarding health insurance plans and employee benefits in Louisiana, here are some answers to common concerns:

How Do Large Group Health Insurance Plans Work in Louisiana?

Large group health insurance plans are ideal for businesses with many employees who require coverage. Sponsoring a group health plan helps Louisiana employers give all their employees the same insurance benefits and coverage at a low cost. Large-group health insurance also helps save money for both employers and employees. Typically, for a health insurance policy to become effective, you need participation from at least 70 percent of the eligible employees to be covered.

In Louisiana, What Is Considered a Small Business Group for Health Insurance Plans?

Even though some small business owners think that the minimum employee threshold for a group plan is high, it isn’t. You must have at least one employee as a small business owner to be eligible for a small business health insurance plan. Once your employee count reaches 50, the medical plan is considered a large group insurance plan, and employer contribution and terms may be even more favorable compared to small businesses.

What Should Employee Benefits Packages Include in Louisiana?

Employee benefits packages are perks outside of compensation that an employer provides to the workforce. Generally, what is included in an employee benefits program in Louisiana depends on employer contribution.

Some of the required ones include unemployment benefits, minimum wage, and overtime compensation. But your employer may also choose to provide some or all of the following benefits to attract new employees or retain old ones: health insurance, dental insurance, vision insurance, 401K, short and long-term disability insurance, retirement and pension, and life insurance.

What Percent of Health Insurance is Paid by Employers?

In many cases, employers and eligible employees share the cost of health insurance, although some companies pay employee premiums. A group coverage plan can save money for both parties. Under the provisions of the ACA, large employers must pay enough so that no employee is required to pay more than 9.12 percent of their gross income towards employees premiums.

Written by Todd Taylor

Todd Taylor

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.

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