Alaska Group Health Insurance & Employee Benefit Plans

A great way to identify lower prices and premium tax credit premiums for group health insurance and other benefits in Alaska is to engage a dependable and licensed insurance agent. The health insurance marketplace helps you find small business health insurance plan that is ideal for your business and eligible employees. Offering a comprehensive employee benefits plan is an important motivator for your staff to stay with the insurance company. It also gives them easier medical care and that of their families.

Alaska Large Group Health Insurance Plans

Large businesses in Alaska, like other states, must offer comprehensive health insurance to their employees to comply with the Affordable Care Act, or they will be penalized for noncompliance. Most large companies prefer to offer insurance, and many pay a portion of the cost for their workers. According to the well-respected Kaiser Family Foundation Benefits Survey, 95 percent of large employers make some contribution to the premium cost, with three-quarters of those employers subsidizing at least a quarter of the cost for individual health insurance coverage or family health insurance. 

In 2021 large employers offered a range of insurance options to their workforce. Forty-six percent of covered workers in large firms participate in a PPO (preferred provider organization), with another eighteen percent in an HMO (health maintenance organization). Over thirty percent enrolled in a High Deductible Health Plan/Savings Option. What sets the HDHP/SO plans apart from others is that the employer often contributes to the savings option, thereby reducing the burden on the subscriber. That’s not necessarily the case for workers enrolled in other plans, which may also have high deductibles but without the advantages. 

Alaska Small Business Health Insurance Plans

One way that small businesses in Alaska can try to reduce their health insurance costs is by offering a selection of health plans to employees. If the employer offers the same subsidy for each small business health insurance, the worker can then choose how much they want to spend and decide between options based on cost and coverage. For this strategy to work, it’s essential that the employer provide comprehensive education for the employees about how each medical plan operates.

For example, despite growing use, many employees still aren’t fully aware of how a high deductible health plan with an HSA works to their advantage. The deductible amount seems intimidating, and the employee may not consider the offset of a lower premium. Also, some workers may not understand the difference between the HSA and older FSA accounts, which have unpopular “use it or lose it” provisions. Your Taylor Benefits Insurance can help you design educational material and communications to ensure that employees are fully up to speed on the differences between the health plans available.

Alaska Employee Benefit Insurance Plans and Employee Benefit Packages

Aside from compensation, one way that employers can compete to attract talented employees is by offering a comprehensive benefits plan. An appealing package often starts with health insurance, particularly for companies required by the ACA to provide access to affordable coverage. Beyond health coverage, most individuals’ wish lists usually rank paid time off for vacation, holidays, and other benefits. No paid time off is required in Alaska, but many employers provide some. Other health benefits that can offer a competitive advantage include:

  • Family leave
  • Retirement savings support
  • Dental procedures, critical illness, pre-existing conditions and vision plans
  • Flexible working schedules/remote work options
  • Childcare support (and elder care assistance)

Alaska Health Insurance and Benefit Health Insurance Options

  • Group health insurance
  • Group dental insurance
  • Group vision insurance
  • Group short and long-term disability insurance
  • Group 401(k)
  • Group retirement and pension planning
  • Group long-term care
  • ACA compliance
  • Workers Compensation
  • HMO and PPO plans
  • Managed health care and indemnity plans
  • Section 125 cafeteria plans
  • HSA and FSA accounts
  • Group life insurance
  • Medicare health options

The insurance plans and benefits you see listed above are just some of the options available to you when you go through Taylor Benefits Insurance, one of the leading insurance agencies around. We will help you find a plan that meets the needs and expectations of your employees. With over 25 years in the insurance industry, we have formed a large network with leading insurance options like Blue Cross, Blue Shield, eHealthInsurance and more which allows us room for negotiations and modifications with our clients. 

Alaska group health insurance plans

Guaranteed Affordable Care Act Compliance Plan 

Taylor Benefits ensures consistent compliance with all local, state, and federal government laws, including the Affordable Care Act. Although the ACA rules are frequently updated, you must maintain compliance.  Following the provisions will help you avoid potentially significant financial penalties, and your company could qualify for premium tax credits. Ask our insurance company how your Alaska business can take advantage of this opportunity.

To find out more about the health insurance coverage and employee benefit options offered through Taylor Benefits, please contact us today.

We will even offer a FREE estimate for services when you call in to discuss your options!

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

The following are answers to some frequently asked questions regarding Individual health insurance coverage and group health insurance plan in Alaska.

Which Large Group Health Insurance Providers Are in Alaska?

With Taylor Benefits Insurance, you will connect with some of the country’s largest health insurance companies. Whenever you need large group health plans, you can always count on the insurance company to get you a great deal. 

Some of the top insurance providers we work with are:

  • Blue Cross
  • Blue Shield
  • eHealthInsurance
  • Humana Group
  • Kaiser Foundation Group
  • Unitedhealth Group
  • State Farm
  • Coventry Corp. Group
  • HIP Insurance Group
  • Carefirst Inc. Group
  • UHC of California
  • Metropolitan Group
  • HCSC Group

How Do Small Business Group Health Insurance Plans Work in Alaska?

Small business owners in Alaska can choose among various small health insurance plans to meet their business needs.

The first option is group health insurance. Employers pay an insurer a specified health plan premium in exchange for individual medical plans for their employees and, in some instances, their families. Often, the employee pays part of the cost.

Another option is a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). Employers can offer employees a specific amount of money to help with the cost of a qualified plan that the employee obtains independently.

We also offer Group Coverage Health reimbursement plan. In this scenario, the employer would offer group health insurance along with monthly premiums to cover deductibles, copays, and other costs.

Some companies opt for self-funded health insurance, but it can pose a financial risk to the organization. With this plan, the employer directly pays the expenses incurred for medicalcare services and prescriptions.

Another popular choice is an Associate Health Plan (AHP), which may also be risky for smaller companies. An AHP is created when a group of small businesses within an industry or location join forces to procure a larger group health plan.

What Are the Different Types of Health Insurance Benefits Offered in Alaska?

Taylor Benefits Insurance Agency offers benefits plans for companies and employees in Alaska for the following:

  • health coverage
  • Vision and dental plans
  • Disability insurance, both short and long term
  • 401k
  • retirement & pension
  • Family plans
  • Section 125 cafeteria
  • HSA
  • life insurance
  • Silver plan
  • Health care services
  • ACA (Affordable Care Act)
  • Corporate health insurance & employee benefits
  • large groups

How Much Do Employers Pay for Health Insurance?

With a group health insurance program, the sponsoring employer can determine how much the employees should contribute (however, large companies must abide by the ACA affordability rules). With a group health insurance benefit, an employee can save money on health insurance compared to what they would pay for individual health insurance. In fact, the individual coverage expense is often three times as much as the worker will pay for a group plan.

We’re ready to help! Call today: 800-903-6066