- Providing world class service and value for employee benefit group plans since 1987
Taylor Benefits Insurance is an independent agency with over 25 years of experience writing custom group healthcare insurance plans for clients. Our clients are groups of 50 people or more. With such large groups, we have the leverage to write healthcare insurance plans that are more affordable, more comprehensive, and more stable, than any other plan offered in your region.
We are not in competition with insurance providers or Obamacare. Our plans are custom-written for our clients, many of whom come to us for a plan after they have already researched other plans in their area. Group healthcare insurance plans are different than individual healthcare plans, and operate in a different section of the healthcare market, especially since we have no direct competition.
Our group healthcare insurance plans provide the following stock health benefits.
While these benefits are enough for most groups, especially groups composed of young and healthy individuals, we can always add more benefits to your plan.
Large companies in Albuquerque must comply with the Affordable Care Act (ACA) by providing affordable, comprehensive health insurance. Compliance requires that the policies not cost employees more than 9.6 percent of their gross income. Furthermore, every policy must include coverage for essential services designated by the ACA. Businesses must make the insurance available for employees’ dependents, but the premium cost doesn’t have to meet affordability standards.
Some companies allow workers to choose between plans to obtain the coverage they prefer. The employer can do this if at least one plan meets the affordability threshold. The ACA uses a system of metal tiers (bronze, silver, gold, and platinum) to categorize policies, helping potential subscribers identify their value. For example, a bronze plan typically has the lowest premium cost and covers the smallest percent of service costs. Silver, gold, and platinum will have a higher premium cost but will cover more usage expenses. Every plan, including bronze, must cover at least 60 percent of anticipated costs for a standard subscriber.
Small companies (with fewer than fifty employees) don’t have to provide health insurance for their workers. Still, some want to, and those that do can find help through the ACA SHOP (Small Business Health Options Program), which offers resources, plans, and support. Your Taylor Benefits Insurance consultant can help you navigate through the options.
Tax credits are available for some businesses with fewer than 25 workers. However, there are other requirements (including a lower-wage workforce, plus the company needs to pay a certain percentage of the premium cost) so check with your specialist to see if you may qualify for assistance.
One of the most requested benefits (after health insurance) is paid time off. The U.S. Department of Labor estimates that paid days off work (including sick leave, vacation, personal days, and holidays) account for seven percent of total compensation. Paid time off is not required in the U.S. Ten states require paid sick days, but New Mexico isn’t among them. However, the Bureau of Labor Statistics estimates that three-quarters of private industry employees have some paid vacation time, and 79 percent receive some paid holidays. Learn more about employee benefit packages.
The average Albuquerque (New Mexico) resident spent $4,221 on healthcare in 2015. However, the real number may be far greater, especially for families with one income. In such a case, the sole breadwinner would be paying for the healthcare of his or her spouse and children. While the average healthcare cost may be $4,221, the number a family will have to pay will be far greater. This scenario happens to millions of Americans from coast to coast.
With an average 6.9% of an individual’s income going towards healthcare, there needs to be a better solution. Luckily, there is: Healthcare can be affordable when you switch to group healthcare insurance. Group healthcare insurance plans are more affordable, more comprehensive, and more customizable, than any plan offered through the federal exchange or by an insurance provider. You can have your premiums lowered, your deductible lowered, and more, when you switch to a group plan. Companies in this region often review nearby markets such as Group Health Insurance in Oklahoma City when comparing employee benefits, pricing structures, and coverage options.
Small businesses in Albuquerque can qualify by meeting minimum employee requirements and offering coverage to all full-time staff. Plans vary based on size, industry, and budget, and employers may receive guidance to select options that balance cost with comprehensive benefits for employees.
Setting up a group health insurance plan usually takes a few weeks, depending on the size of the company and how quickly employee information is submitted. Most businesses begin with a consultation to review workforce size, budget, and preferred coverage levels. After that, plan options are compared and a final selection is made. Once enrollment forms are completed and approved, coverage can typically begin at the start of the next month. Planning ahead allows employers to avoid gaps in coverage and ensures employees have time to review their options.
Fully insured plans have fixed monthly premiums, while level funded plans combine predictable payments with potential refunds if claims are lower than expected. Each has different risk and savings potential.
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.
We just started working with Taylor Benefits and could not be happier. Todd gave us quite the education as well as some time saving tools to help us manage our HR and save money too. We are looking forward to a long relationship!”
-Carol, Accounting Manager, recruitment marketing company, Campbell, CA
We’re ready to help! Call today: 800-903-6066