Albuquerque Group Health Insurance & Employee Benefit Plans

Essential Health Benefits in Our Plans

Our group healthcare insurance plans provide the following stock health benefits.

• Medical, dental, and vision
• Short-term and long-term group disability
• Pension, retirement, and 401K
• Section 125 cafeteria, flex spending, and HSA
• Life insurance and long-term care
• Albuquerque large group health insurance

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.

Albuquerque NM Large Group Health Insurance Plans

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.

Albuquerque NM Small Business Health Insurance Plans

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.

Albuquerque NM Employee Benefit Plans and Employee Benefit Packages

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.

Typical Problems with Group Insurance in Albuquerque

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.

Why Group Healthcare is More Affordable

Group healthcare insurance plans are much more affordable than individual healthcare insurance plans. A large reason why this is true comes down to customization. We can include the health benefits your group wants, and leave out the rest. As an independent agency with no competition, we have the ability to customize each group healthcare insurance plan for each client’s needs. Take control of your healthcare today and switch to a more affordable, more comprehensive, group healthcare insurance plan.

Relevant Statistics

• Over 80% of businesses in Albuquerque offer group health insurance to their employees.
• The average deductible for group health insurance plans in Albuquerque is $1,200.
• Approximately 90% of group health insurance plans in Albuquerque cover preventive care services at no additional cost.
• More than 70% of individuals covered under group health insurance in Albuquerque have access to mental health services.
• The average premium increase for group health insurance plans in Albuquerque over the past year was 4.5%.

General Facts

• Albuquerque offers a range of group health insurance plans for businesses.
• Group health insurance provides coverage for a group of individuals, such as employees of a company or members of an organization.
• Employers in Albuquerque often offer group health insurance as part of their employee benefits package.
• Group health insurance plans typically provide coverage for medical expenses, including doctor visits, hospital stays, and prescription medications.
• The cost of group health insurance is usually shared between the employer and the employees, with contributions made through monthly premiums or payroll deductions.

The Taylor Benefits Promise

Contact Taylor Benefits Insurance today for a free estimate so you can see the difference that group healthcare insurance will make in your life. Making the switch is easy. Reduce your healthcare insurance costs and increase your coverage. There is no payment required to receive an estimate, and you are under no obligation to sign up for a plan.