Albertville Group Health Insurance & Employee Benefit Plans

With three industrial parks in this city, Albertville, Alabama is home to a diverse manufacturing and industry base. Offering employee benefits in this city is an excellent way of reducing employee turnover. When your employees’ needs are well taken care of, they will not have a reason to leave your company.

Albertville, AL Large Group Health Insurance Plans

With most company-sponsored health insurance plans, coverage is offered on a calendar year basis. Employees sign up when they become eligible or during an annual open enrollment period. New employees can join the big group health insurance plan either immediately or within 30 or sixty days of starting work at most large companies. At that time, they select the coverage they want. They then can't make changes until the next open enrollment period, which is often in the fall, becoming effective at the start of the following calendar year.

However, since circumstances can change, there are “qualifying events” that enable an employee to add, change, or remove coverage at any time. These events include losing or gaining health insurance from another source. For example, suppose an employee was covered by their partner's job-based plan, but the partner changed jobs. That event would qualify as a life event to allow the worker to add participation through their work program. Similarly, suppose a young adult is covered by a parental plan but turns 26 and is no longer eligible. That change is a qualifying event that enables them to sign up if their employer offers coverage.

Also, suppose an employee is covered through their employer plan and gains access to a different plan (for example, if the person marries or their partner changes jobs and has access to a better program). In that case, they can terminate their participation due to the qualifying event. For example, having or adopting a child qualifies, as does marrying or divorcing a spouse or losing any covered dependent due to death.

Albertville, AL Small Business Health Insurance Plans

One option for small businesses wishing to help workers with their health care expenses without sponsoring or administering a health insurance plan is to provide an ICHRA (individual coverage health reimbursement arrangement). An ICHRA allows the employer to offer pre-tax funds to an employee to pay for personal coverage either through a marketplace or a broker. Small employers (fewer than 50 workers) don’t have to provide any coverage, but this is one way they can help while keeping their costs under control. Employers can't offer health care insurance and an ICHRA; they must choose one or the other and provide the program for all workers within a particular class. However, there is no requirement for the employer to cover the entire cost for any employee.

Albertville, AL Employee Benefit Plans and Employee Benefit Packages

Health insurance and paid time off are the most pervasive employee benefits, although both are more common as the employer’s size increases. While smaller companies may not offer health insurance coverage, they almost always provide at least some paid time off for full-time workers. The most common PTO is for holidays, followed by vacation time, illness, and personal days. Larger companies typically include bereavement leave and paid time for jury duty, while small businesses may not or may take an informal approach to the subject.

Many companies offer company-paid short-term disability insurance to their workforce. Some add an option for the employee to purchase long-term coverage at their own cost. Long-term disability is one of the common “voluntary” benefits that employees may gain access to at a group rate through their employer but without a subsidy from the company. Other examples include life insurance, pet insurance, specific illness coverage, long-term care insurance, and legal plans.

Group Health Insurance and Employee Benefits

Thus, benefits are a great investment when you want to attract and keep talented workers as part of your human resource. When you pay premiums towards your employees benefit program, you in turn earn tax credits that enables you to save money that you would have paid in taxes. This also applies to your employees as they pay less for insurance when they are accessing it as a group.

What to Look For In an Insurance Provider

When you want to offer your workers employee benefits, you want to be sure that you are dealing with an insurance provider that is reputable and financially stable. As such, it is important to know what to look for in an insurance provider. Among the things you need to look out for include:

  • Credentials and expertise. Always look at the credentials and experience of a provider before trusting them as your advisor. One way to find out about the provider’s credentials is looking out for any letters that represent professional designations against their names. You can then ask them the duration that they have been active in the industry.
  • Find out if the provider is a direct agent selling policies of a particular company or an independent agent working with multiple providers to give you a suitable policy.

Benefits of Working with an Insurance Broker

Whether you are purchasing your group health insurance and employee benefit plan for the first time or you have done it before, it is important to realize the importance of insurance brokers. Working with a broker comes with many benefits that include the following:

  • Brokers are not committed to a particular insurance provider thus they will work for you, offer you professional advice and ensure you find a plan that fits into your budget.
  • By working with an insurance broker, you are exposed to a world of multiple options in terms of rates and products they offer.
  • Brokers are able to negotiate for better rates for your plan and also protect your interests.

Dial 800-903-6066 and get free consultation on Albertville Group Health Insurance & Employee Benefit Plans

Who We Are

Taylor Benefits is a leader in group health insurance and employee benefits in Albertville. We have been in the industry for the last 30 years during which we have catered to the needs of numerous employers. Our staff uphold the highest professional standards and offer professional advice on your employee benefits before tailoring a perfect plan. We also negotiate for lower rates and premiums to suit your needs without compromising on the quality of service that you sign up for. Overall, we make sure you have a plan that caters to your bottom line as well as the needs of your workers.

Albertville group health insurance plans

Insurance Products by Taylor Benefits

At Taylor Benefits, we offer you multiple employee benefits options that you can incorporate into your plan. These include:

  • Group medical insurance
  • Group vision insurance
  • Group dental insurance
  • Retirement plan
  • 401(k) plan set up and servicing
  • Pension plans
  • Section 125 cafeteria plans
  • Workers compensation
  • Short-term disability insurance
  • Long-term disability insurance
  • Indemnity and managed care plans
  • Health Maintenance Organizations (HMO)
  • Employee and group health insurance benefits
  • Indemnity and manage care plans
  • Life insurance and long-term care
  • Affordable Care Act (compliance)
  • Preferred Provider Organizations (PPO)
  • Tax advantaged health accounts (HSA & FSA)

Are you looking for a Albertville Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

Why Taylor Benefits

Taylor Benefits is registered as an independent insurance broker. We offer world-class service and deliver top notch employee benefit plans to meet your unique needs. Our goal is to not only take care of the needs of your workers in Albertville but also give you a competitive edge among your peers especially when you are recruiting. We work with a network of top insurance carriers in Albertville to give you a competitive benefit package. When the time to renew your plan comes, we carry out an audit to check that your provider is still ranked among the best. Our benefit professionals are also keen on complying with the standards of the Affordable Care Act as well as other laws.

Get In Touch

Get in touch with us today for a competitive group health insurance and employee benefit plan in Albertville. We can also give you a free estimate. Call our toll free line at 800-903-6066.

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