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 Agency about your options.
Depending on the budget, your target demographic for crews, and the size of your workforce, you may be able to save money and still improve the protection 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 coverage 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.
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 coverage benefits to their staff members. There are several reasons for this:
According to the U.S. Bureau of Labor Statistics, nearly half of small companies provide medical protection to their staff members. 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.
Benefits plans are more than health coverage 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 staff members 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 protection marketplace.
Taylor Benefits Agency is an established and experienced benefits provider for group and employee benefit plans in Bakersfield. With more than 35 years of experience working with local businesses and Bakersfield large group health coverage, we have the expertise to help you choose and obtain 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 who understands your expectations and can effectively integrate them into your overall benefit plan.
Call 800-903-6066 for a free consultation about Bakersfield Group Health Insurance and Employee Benefits Plans.
When you partner with Taylor Benefits Agency to find the best options for your benefits program, you enjoy the expertise of our knowledgeable and experienced team of professionals. Our consultants stay up to date with market trends and changes in insurance regulations, which allows us to guarantee that your program will comply with the ACA and other applicable regulations. Our industry expertise helps us ensure that you gain the competitive edge you are seeking.
Our consultants will perform regular reviews of your plan and recommend any helpful changes. Our service includes complimentary access to our online HR management system, which can simplify benefits administration. We will help you create an ideal benefits program that will meet your needs without upsetting your budget.
Are you looking for a Bakersfield Group Health Insurance and Employee Benefit Plan? Click the quote button below to get an instant quote.
Written by Todd Taylor
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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