Austin Group Health Insurance & Employee Benefits

Austin Group Health Insurance & Employee Benefit Plans

One of the biggest demands of the hardworking individuals in Austin is affordable group health insurance and employee benefit plans. A lot of career-minded individuals expect to have a personal insurance plan presented to them through their place of employment. That is why Taylor Benefits Insurance Agency works with some of the most reputable insurance carriers throughout Texas. We want to make sure you get all that you deserve at a low rate and premium so that you can attract and retain hard working individuals.

Austin group health insurance plans

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

Austin, TX Large Group Health Insurance Plans

In Austin, similar to other thriving cities, employers face a challenge in offering high-quality health insurance to their employees. Health insurance expenses seem to go up relentlessly. Still, large companies that fall under the ACA mandate must provide coverage and limit the share that employees pay. For 2023 the premium share paid by the subscriber must be less than or equal to 9.12 percent of their income. This requirement means that the company absorbs rate hikes they can’t pass on to the employees. 

As a result, many companies are working with their group insurers to look for cost-control tools. Some of the approaches include:

  • Contracting directly with providers for coverage, although that can end up limiting subscriber options.
  • Requiring subscribers to seek pre-approval for inpatient hospital services unless it’s an emergency.
  • Mandating telehealth options for routine issues.
  • Incentivizing subscribers to use more cost-effective providers.
  • Sponsoring wellness activities, including health screenings and fitness classes.

Austin, TX Small Business Health Insurance Plans

Small companies are exempt from the ACA mandate if they employ fewer than fifty people. Furthermore, given the high cost of insurance, some small companies hesitate to sponsor a program, especially since they must follow the ACA requirements for cost sharing. One option for small businesses to consider is a High Deductible Health Plan (HDHP) combined with a Health Savings Account (HSA). The deductible must equal or exceed the IRS minimum of $1,500 for an individual or $3,000 for a family in 2023. Otherwise, the subscriber won’t qualify for the HSA, which is a crucial part of this choice. However, the deductible amount is much higher in many cases, reaching the out-of-pocket maximum. That maximum is increasing in 2023 to $7,500 for an individual subscriber or $15,000 for the family.

Health Savings Accounts can help workers cover their medical expenses by allowing them to use pre-tax income to pay. Sometimes, the employer adds funds to the HSA, but that’s optional. Also, suppose the worker has money in the account, and they don’t use it in that calendar year. In that case, they can accrue it indefinitely and keep it in reserve for future needs, even into retirement.

Austin, TX Employee Benefit Plans and Employee Benefit Packages

Texas doesn’t have a state requirement compelling employers to provide paid sick leave for workers, but Austin does mandate the benefit for employers within the city. All employees who work at least 80 hours in a calendar year are entitled to accrue sick time. Paid time off, including sick leave and vacation time, ranks among many workers’ top selections.

Employees also want paid health insurance, support for their retirement savings, dental and vision coverage, flexible work hours, and wellness options. Employers can create attractive benefits packages by choosing some popular benefits to include.

Choose Your Group Insurance Options Wisely

To ensure that you get the absolute most out of your benefits for employees, we offer a wide range of options. We can tailor your benefits packages according to your needs and financial means.

  • Group Health Insurance
  • Group Dental Insurance
  • Group Vision Insurance
  • Group Short and Long Term Disability Insurance
  • Group 401k
  • Group Retirement and Pension
  • Section 125 Cafeteria
  • HSA
  • Group Life Insurance
  • Group Long Term Care
  • ACA (Affordable Care Act)
  • Vacation Options
  • Medicare
  • Unemployment Plans

Advantages of Using a Licensed Insurance Broker

Finding the least expensive health insurance and employee benefits plan and having to explain it to all those that work for you, isn’t easy. That’s why it’s wise to hire a licensed insurance broker out of Texas. They have the experience and education in the insurance industry to get exactly what you need out an employee benefit plan.

  • A broker is able to modify insurance plans and negotiate costs.
  • They’ll provide you with the greatest tips and advice to keep costs low, employees happy, and everyone on the same page in regard to the chosen employee benefits package.
  • You’ll have more insurance and benefits options. Through simple communication, our brokers will help you decide what is best for your business if you’re uncertain what would appeal to your employees most.

Get a hold of us at 800-903-6066 and right away we will provide you with all the information we can. At the end of the call, we’ll even give you a FREE quote that’s hard to refuse! We want Austin employers to thrive!

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

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Austin, TX

Health insurance policies in the United States often provide financial assistance to hospitalized patients who require it. Health insurance is not required by law for residents of Texas. Health insurance coverage for Texans, however, is a requirement of the Affordable Care Act. Texas is one of the states with the highest percentage of enrollment for the federal health exchange. Some of the most common questions about health insurance in Texas are listed below.

What Percentage Of The Cost Of Health Care Are Employers Responsible For Paying?

Employers and employees pay jointly for comprehensive health insurance coverage. Approximately 70% to 90% of Austin’s overall health insurance expenses will be borne by business owners.

Texas Offers a Variety of Benefits. What Are They?

Benefits packages offered by employers are appreciated by an increasing number of employees. As a result, firms provide reasonable health and retirement benefits to their employees. This benefit is beneficial to organizations of all sizes:

  • Health Insurance – The cost of health insurance for an employee can significantly impact the hiring process for an employer.
  • Retirement and 401(k) – Younger workers are aware of the significance of planning for the future. Put together a pension plan that will set you apart from your competitors.
  • Vision & Dental – Many companies choose to purchase a cheap vision or dental policy or simply discount the premium.

What are Small Business Group Health Insurance Providers in Austin, Texas?

There are several companies in Austin, Texas offering Small Business Group Health Insurance:

  • Coventry Corp. Group
  • Unitedhealth Group 
  • HIP Insurance Group
  • UHC of California
  • State Farm
  • HCSC Group
  • Carefirst Inc. Group
  • Humana Group
  • Blue Cross
  • eHealthInsurance
  • Blue Shield
  • Kaiser Foundation Group
  • Metropolitan Group

In Austin, Texas, What Is Considered a Large Group for Health Insurance Plans?

An employer with more than 50 employees has a large group health plan. Large groups of employees may cover an unlimited number of employees without legislative limitations. You can obtain group health insurance for your employees regardless of the size or industry of your business. Beneficiaries with specific demands and risks may benefit most from individual health insurance policies.

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