Augusta Group Health Insurance & Employee Benefit Plans

Augusta GA Large Group Health Insurance Plans

Large companies are traditionally more likely than smaller businesses to offer health insurance for their workforce. This situation predates the Affordable Care Act, which established a mandate for companies with fifty or more workers. Big firms also are more likely to offer workers a choice between plans and to defray some of the costs. The ACA’s affordability standard limits subscribers’ share of the premium to 9.61 percent of their income. However, if one plan complies, the worker can choose a different one with a higher premium cost.

Overall, subscribers still prefer PPO plans over HMO networks, even if the PPO costs more. Many workers say the reason is that the HMO doesn’t include their preferred provider, or they do not want the hassle of seeking authorization from a primary care physician before seeing a specialist. In addition, although a PPO subscriber may need to pay more for services outside their network, they have the option. In contrast, an HMO patient may not be able to access any out-of-network care unless it’s an emergency.

Augusta GA Small Business Health Insurance Plans

SHOP (Small Business Health Options Program) is the marketplace for small businesses that the ACA created to offer smaller companies resources to help them offer health insurance to their workers. Companies can research the plans available and get information about tax credits. Taylor Benefits Insurance can help your company find the best options. Small companies must meet these criteria to be eligible for the tax credit:

• Employ fewer than 25 employees (not counting seasonal workers)
• Pay salaries that average $50,000 or less
• Subsidize at least half of the premium for each employee
• Offer a qualified plan

Augusta GA Employee Benefit Plans and Employee Benefit Packages

Health insurance and paid time off from work are among the most wanted employee benefits. Although small companies may not always offer health insurance coverage, most businesses allow some paid time off for full-time workers. Sick leave is standard (even though not required in Georgia), and larger companies may offer paid vacation time.

Georgia companies must provide workers’ compensation coverage for their employees to cover job-related injuries. But if an employee is injured off the job, they need disability coverage. Some employers pay for short-term coverage and offer their employees long-term coverage at their expense. That places long-term disability insurance in the category of “voluntary” benefits that employees may sometimes buy at a discount through their employer but without a subsidy. Other voluntary benefits include life, pet, long-term care, and legal plans.

The city of Augusta, Georgia presents many opportunities for businesses and job hunters alike. It is particularly known as being a center for manufacturing, medicine and military. Competition for top professionals is stiff even as job hunters seek to identify employers who have the best culture. Among the things that set employers apart and that top candidates are interested in is, health insurance and employee benefits.

Group Health Insurance and Employee Benefits

Employee benefits seem to be on a decline in the city of Augusta with many employers cancelling employee benefit programs citing the increase in the cost of group health insurance coverage. Still, offering your employees a benefits package comes with multiple advantages. Some of these include being able to retain quality employees, increasing productivity and gaining tax credits. You just need to ensure that you find the right benefits package that addresses both your needs and the needs of your employees.