Baton Rouge Group Health Insurance & Employee Benefit Plans

Baton Rouge group health insurance plans

Baton Rouge LA Large Group Health Insurance Plans

When inflation is rising, health insurance costs are typically also increasing. This fact concerns large companies that must provide health insurance for their employees. The ACA restricts how much of the premium they can require the workers to pay. In recent surveys, human resource executives stated their concern about holding down insurance expenses. One recent study by HR consultant WTW also found that their clients don’t want to increase the employee’s cost for health insurance because of the potential effect on competition for talent. So instead, group insurers are implementing some of these cost-management methods:

  • Contracting directly with providers for in-network coverage
  • Requiring pre-approval for inpatient hospital services
  • Adding telehealth options for common concerns
  • Offering incentives for subscribers to use more cost-effective providers
  • Offering free or discounted wellness activities like screenings, classes, and clubs
  • Charging lower premiums to lower-paid workers and higher amounts to more highly compensated workers

Baton Rouge LA Small Business Health Insurance Plans

The cost may challenge small companies that don’t fall under the ACA mandate to provide insurance. Some find that one option to save money is a High Deductible Health Plan (HDHP) offered with a Health Savings Account. Such plans must meet the IRS standards for “high” deductible to be allowed to offer the HSA. The minimum deductible for eligibility in 2022 is $1,400 for an individual or $2,800 for a family. Often, deductibles are quite a bit higher, up to the allowable out-of-pocket maximum of $7,050 for an individual subscriber or $14,100 for the family. The higher deductibles mean the subscriber pays more, so the premium is lower.

Also, Health Savings Accounts can help reduce a subscriber’s overall expenses by letting them use pre-tax income to pay their medical costs. Sometimes the employer also contributes to the HSA. Another advantage is that the funds can roll over. If a worker has money in the account they don’t use in the calendar year they contributed, they can roll it over indefinitely without paying taxes on the contributions or the earnings.

Baton Rouge LA Employee Benefit Plans and Employee Benefit Packages

Many companies prioritize health insurance when designing their benefits programs because employees want it. It’s an expensive benefit, but it’s crucial to worker satisfaction. Also, for large companies, it’s required by the ACA. Beyond insurance, Baton Rouge companies often want to add perks like dental insurance, short-term disability, and life insurance programs.

Next on the list, employees usually want paid time off. Vacation and holiday pay are great ways to encourage workers to recharge and refresh. Louisiana employers don’t have to provide paid holidays, vacation time, or sick leave, but many do.

Baton Rouge Group Health Insurance and Employee Benefits

The city of Baton Rouge in Louisiana enjoys a strong economy. This has earned it a place among the top ten places for young adults, by Portfolio Magazine’s ranking, and one of the top twenty cities in North America for Economic strength. As an employer in this city, you are faced with the challenge of offering a good package to potential employees. This goes beyond the salary to include group health insurance and employee benefits. Offering employee benefit packages plays a major role in enhancing your appeal as an employer-of-choice.

Group health insurance and employee benefits

One of the things that job hunters look at before applying for a position in your company is your organizational culture. This includes whether you are offering group health insurance and employee benefits or not. Offering employee benefits sets you apart from your peers in the industry as you become more attractive as an employer. Employers who offer health insurance and other benefits are seen to be more caring about the welfare of employees compared to those who don’t. When employees believe you care about their welfare, they become more motivated with improves their productivity.

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

Who we are

Taylor Benefits is a leading group health insurance and employee benefits agency offering unmatched benefits plans for employers and businesses in Baton Rouge. We have built our reputation of crafting custom plans for our wide range of clients over the last 30 years. We remain committed to providing group health insurance and employee benefit plans that are in compliance with the standards of the Affordable Care Act (ACA) and other related laws. Our experienced insurance brokers are always striving to stay abreast with the changes taking place in healthcare laws that could have an impact on the plans we offer.

Baton Rouge group health benefits and employee insurance plans

Insurance products by Taylor Benefits

Our group health insurance and employee benefit options include the following:

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These are some of the common options that job hunters look for in a group health insurance and employee benefits plan. We can modify your plan accordingly to include just about anything you want.

Why Taylor Benefits?

Our licensed and experienced insurance brokers will listen to your concerns. They will then reach into our database of top carriers to meticulously create a benefit plan that meets your needs as well as the requirements of the Affordable Care Act (ACA), local, state and federal laws. Doing this ensures you avoid penalties. We also conduct a yearly audit and make the necessary adjustments that keep your plan in line with the laws.

Relevant Statistics

  • Over 85% of employers in Baton Rouge offer group health insurance to their employees.
  • The average annual premium for group health insurance in Baton Rouge is $9,750 per employee.
  • Approximately 95% of employees covered by group health insurance in Baton Rouge have access to preventive care services.
  • More than 90% of individuals enrolled in group health insurance plans in Baton Rouge receive coverage for prescription drugs.
  • Baton Rouge group health insurance plans offer an average of 80% coverage for major medical expenses.

General Facts

  • Group health insurance in Baton Rouge provides healthcare coverage for members of a group, such as employees of a company.
  • It helps protect individuals and their families from high medical costs by covering a portion of the expenses for doctor visits, hospital stays, prescriptions, and other medical services.
  • Employers often offer group health insurance as part of their employee benefits package to attract and retain talented employees.
  • Group health insurance plans typically offer a range of coverage options, including different levels of deductibles, copayments, and premiums.
  • In Baton Rouge, employers have various insurance providers to choose from when selecting a group health insurance plan for their employees.

Talk to us

Call us today to discuss your options for group health insurance and employee benefit plan with our knowledgeable and experienced insurance brokers. Our insurance agents are ready to help you find the best group benefit plan. Call our toll-free-number 800-903-6066. You can also request for a free proposal.

Written by Todd Taylor

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.

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