Atmore in Alabama State has taken a proactive approach in fostering industrial growth. They are aware that it takes more than just fertile farmland and tall pines to attract industry players. In the same way, it takes more than a good work ethic to attract employees. You need to put in place a good benefits plan.
Whether you are hiring new staff or are keen on retaining the ones you have, it is important to keep in mind that employees make decisions heavily based on benefits. Saving money on employee benefits is also vital in today’s economy. Even then, the cost of providing employee benefits is continually rising while employees are consistently seeking more.
Large employers are more likely to offer group health insurance to their employees and also more likely to provide a choice between plans and subsidize the premiums. Employers often find that their workforce looks at the upfront costs of insurance (premiums) more closely than the usage costs, like copayments and deductibles. While Health Maintenance Organization (HMO) plans have become more widespread, many consumers still choose a PPO (preferred provider organization) if they have one available, even at a higher cost. The reason typically offered is that the HMO doesn't include their particular medical provider or that the subscriber doesn’t want to go through a primary care physician to obtain a referral to a specialist. Still, surveys typically indicate similar satisfaction ratings for both kinds of plans.
For small businesses, good coverage and reasonable cost are both crucial when choosing a small group health insurance plan for their workforce. The business owner often determines the insurance model based on their needs, in consultation with an advisor like Taylor Benefits Insurance. Smaller companies may offer a Point of Service plan, which has some of the flexibility of a PPO along with the savings of an HMO. Usually, there is a small or even no deductible for care that the subscriber obtains within the network, with higher charges for care outside the network. The model in this way is similar to a PPO. If your employees prefer greater flexibility in provider selection, a POS can be an excellent option.
Cafeteria plans are a popular way of allowing employees to pay for some benefits using pre-tax income, saving them money. These programs are called "cafeteria plans" because the subscribers choose whether to participate and which benefits to opt for. The employer also profits by reducing the salary on which they owe payroll taxes. Employees who opt out can receive a portion of the benefit in additional wages. Participants can pay for their health insurance premiums and also fund flexible spending accounts, health savings accounts, or dependent care accounts with pre-tax dollars.
Small companies (with fewer than 100 employees) can create a simple Cafeteria Plan to ease compliance with nondiscrimination testing by following some administrative rules. Talk to your Taylor Benefits Insurance consultant for details.
Employers have found themselves in the dilemma of having to balance between their business bottom line and the needs of their employees. The competitive marketplace doesn’t make things better. You need to take every advantage you can get. It takes more than a trained and dedicated workforce to maintain the growth of your business.
The Affordable Care Act (ACA) changed the employee benefits landscape to a great extent. For employers, keeping up with the changes has been a monumental task. If you are keen on making informed choices, Taylor Benefits can help you navigate through these health care reforms to ensure that you make informed choices by offering you valuable recommendations.
Taylor Benefits Insurance Agency offers high quality group health insurance and employee benefits services in Atmore. Our goal is to help you save money while guiding you through the increasingly complex world of employee benefits. Whether you have a small or large group, we’ve got you covered.
We can tailor a package that will meet your specific needs. Our staff of experienced benefits professionals will develop benefits packages that resonate with your business and employees. They leverage their intricate knowledge of employee benefits industry to provide cutting edge solutions.
We have benefits specialists covering all lines of employee benefits with the vital knowledge and experience to keep the programs running smoothly.
Taylor Benefits Insurance Agency offers the following plan options:
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Taylor benefits is an independent agency working with top insurance carriers in Atmore to meet all your insurance needs. We are dedicated to offering customers excellent coverage at competitive prices.
We carefully select our carriers to provide you with the best level of service coverage and price. We choose the best carriers and work with them to satisfy your unique needs. We design a special package depending on your property, needs, and liability.
Owing to our independence, we not only service but also educate the business community in Atmore on the best options for their insurance needs. We work to see that you enjoy a positive overall experience.
We’d like to hear from you. Give us a call at 800-903-6066. You can also request for a proposal. We’ll be glad provide answers to all your group health insurance and employee benefits.
We’re ready to help! Call today: 800-903-6066