Bakersfield Group Health Insurance & Employee Benefit Plans Agent

Bakersfield CA Large Group Health Insurance Plans

Most large employers in Bakersfield, California, were offering health insurance and tax credits to their workforce even before the ACA mandate. However, as a big company, you will probably periodically review your program to ensure that it’s cost-effective and offers excellent value to your team. When you check your coverage, you may want to talk to a consultant at Taylor Benefits Insurance about your options.

Depending on the budget, your target demographic for employees, and the size of your workforce, you may be able to save money and still improve the insurance coverage you offer. For example, consider an HMO or POS (point of service) or a high deductible plan with a health savings account. If you haven’t updated your insurance program recently, evaluating potential options is worth the effort.

Many large businesses self-fund their insurance rather than buying coverage. Most use a third-party administrator to manage the claims and provide data analysis. Depending on your size, also consider hedging your risk with a level-pay or reinsurance option.

Bakersfield CA Small Business Health Insurance Plans

Small businesses in Bakersfield or anywhere in the United States that employ less than fifty employees are not legally required to provide their workers with ACA (Affordable Care Act) insurance. Despite this, many small businesses voluntarily offer health insurance benefits to their employees. There are several reasons for this:

  • Employee Well-Being: Small business owners understand the importance of their employees’ health and well-being. By offering affordable health insurance, they can ensure that their workforce has access to necessary medical care, leading to a more productive and satisfied team.
  • Recruitment and Retention: Providing health insurance can be a powerful recruitment and retention tool. In a competitive job market, offering comprehensive benefits, including health coverage, can attract top talent and encourage current employees to stay with the company.
  • Positive Work Environment: Offering health insurance demonstrates that a small business cares about the welfare of its employees. This fosters a positive work environment and can improve employee morale and loyalty.
  • Tax Incentives: Some small businesses may be eligible for tax incentives or credits for offering health insurance to their employees. These incentives can offset some of the costs associated with providing coverage.

According to the U.S. Bureau of Labor Statistics, nearly half of small companies provide medical insurance to their employees. In many cases, these businesses may cover part or all of the monthly premiums, further supporting their employees’ access to healthcare.

Small businesses looking to offer health insurance can benefit from the assistance and support available through programs created by the Affordable Care Act. These programs can help guide businesses in choosing and implementing suitable insurance plans that align with their budget and the needs of their employees.

Bakersfield CA Employee Benefit Plans and Employee Benefit Packages

Benefit plans are more than health insurance and sick leave. In Bakersfield, employees are entitled to paid sick time, but many companies add more to the package to ensure they attract the top-quality workforce they need. MetLife’s 2022 Benefits Survey reported that three-quarters of workers say that a better selection of benefits would keep them at their current employer longer and reduce their stress. Not surprisingly, the MetLife survey found that satisfied employees are likelier to stay loyal to their company.

Employers that want to provide a benefits package to help their workers maintain financial stability and plan for the future may want to add life insurance, contributions to a retirement savings plan like a 401(k), and perhaps assistance finding or paying for childcare. Other popular perks include dental and vision coverage, tuition reimbursement, flexible scheduling, remote work, and access to the health insurance marketplace.

Taylor Benefits Insurance Agency is an established and experienced benefit provider for group and employee benefit plans in Bakersfield. With more than two decades of experience working with local businesses and group insurance plans, we have the expertise and affordable benefit options that make sense for employers and employees alike.

Discounts and tax incentives are available for employers that contribute toward group benefits and health plans, which makes it helpful to have the guidance of a professional that understands your expectations and can effectively integrate them into your overall benefit plan.

We also work with businesses to make sure that they’re compliant with legal standards and upcoming changes in the law that may affect them. This is an especially important consideration with the Affordable Care Act being gradually rolled out over the next several years.

Bakersfield group health insurance plans

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Bakersfield Group Insurance | Resources & Services

Employers Guide to COBRA – A publication from the U.S. Department of Labor that details employer rights and responsibilities as they relate to the Consolidated Omnibus Budget Reconciliation Act (COBRA). Required Employee Benefits – From the U.S. Small Business Administration, a nice resource that explains what’s required by law and what’s optional in terms of employer offerings.

We cover all industries and a broad range of clients in Bakersfield, from small businesses that are just starting out to established and longstanding companies that are based locally. Here are some of the ways in which we help businesses attract and retain their best employees through benefits and insurance offerings.

  • Group Insurance

    We work with you to create an insurance plan that works for you but also fits with the financial plan of your business. We are contracted with all major health insurance companies in the state and can negotiate affordable group rates for medical, dental, visual, disability, cafeteria plans, long-term care, and life insurance.

  • Employee Benefits

    Retirement, pension, and long-term savings plans are an integral part of an enticing benefits package. As part of our initial consultation, we go over your business and employee needs in terms of retirement and 401k plans, as well as insurance.

  • Tools & Consultation

    As part of our ongoing customer service, we provide a yearly audit and a complementary online software tool to help administrate human resources services. (And we’re always just a phone call or email away!)

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

Learn more about Bakersfield employee benefit packages offered by Taylor Benefits.

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