Companies that employ fifty or more workers must comply with the Affordable Care Act (ACA) requirements, which established rules for employer-sponsored health insurance. Most sizeable companies already provide access to insurance. Still, the legislation added some new stipulations to make insurance more affordable and available for employees. For example, policies must meet an affordability standard that limits the percentage of their income that they can be required to pay. Companies can offer more than one plan, but at least one must satisfy this requirement. Every plan must meet the other conditions, including offering the ten essential benefit areas outlined by the ACA:
Other changes that support subscribers include prohibiting insurers from denying coverage due to pre-existing conditions and allowing dependents to remain on a parent’s plan until they turn 26.
In cities like Akron, small companies have many choices for providing health insurance — if they choose to do so. However, since the Affordable Care Act mandate for coverage doesn’t apply to businesses with fewer than fifty workers, it’s up to each small business. Companies seeking resources and information about insurance for their staff can find help from SHOP (Small Business Health Options Program), which was created by the ACA and provides incentives for offering compliant coverage.
Some businesses can qualify for a tax credit if they are eligible using these criteria:
Talk to your consultant about options for your small business.
You may think of health insurance when you hear the term “employee benefits,” and insurance is undoubtedly a significant component of many good benefits packages. In fact, it’s probably the most frequently requested benefit. But there is more to a good benefits plan than health insurance. For example, employees also want paid time off, flexible schedules, the ability to work remotely (at least part of the time), and casual office culture.
Workers also value retirement plan assistance, vision and dental insurance, wellness programs, and stock options, among other offerings.
The city of Akron in Ohio has won multiple economic awards for “city livability”. It is also seen as a high-tech haven, owing to its great contribution to the information age. This city also hosts the Biomedical Corridor that is dedicated to attracting health-related ventures. Employers in Akron strive to keep the best professionals from jumping ship by offering a good benefits package. This is one of the considerations that most job hunters give prominence when seeking out new opportunities. Group health insurance and employee benefits also play a role in determining your employee turnover.
A common mistake most of the small business owners in Akron make is assuming they can’t afford a decent benefits package for their employees. However, while refraining from paying premiums for your employees’ group benefits may seem to work for your bottom line from a short term perspective, it could end up strangling the long term potential of your business. Offering group health insurance and other employee benefits will jump start the growth of your business. Research has found that when employees feel that their healthcare needs and employee benefits are met, they tend to be more productive.
Dial 800-903-6066 and get free consultation on Akron Group Health Insurance & Employee Benefit Plans
Taylor Benefits is a leader in the provision of group health insurance and employee benefits. We have been offering exceptional service to businesses in Akron for 30 years. We pride ourselves in devising custom benefit plans for companies of all sizes. Whether you have eight employees or you are a multinational corporation, we’re ready to help. We will negotiate the best rates and premiums for you. Our licensed insurance agents also ensure that your plan complies with the standards of the affordable care act.
With our extensive experience and expertise, we can provide you with any of the following employee benefit plans:
Are you looking for a Akron Large Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.
As an independent insurance provider, we work with some of the top insurance carriers in Akron. This comes with flexibility and choice for your group coverage and benefits. We have been providing the best values in group benefits so you can be sure we will help you find the best option for your company. They also carry out a market analysis at the time of renewing your policy to ensure that your current carriers still hold a competitive position in the market. This gives room for changes wherever necessary.
Our professional group insurance agents are ready to help you put together an attractive group health insurance and employee benefits plan in Akron. Call us today free consultation and a no-obligation quote. Dial 800-903-6066.
Written by 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.
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