Bay Minette Group Health Insurance & Employee Benefits Plans

Bay Minette group health insurance plans

Bay Minette Group Health Insurance & Employee Benefits

Bay Minette City is the largest employer in Baldwin County. Many of the other opportunities are with manufacturing companies. Bay Minette recruits new companies by collaborating with the North Baldwin Chamber of Commerce and the Baldwin County Economic Development Alliance.

Since most people in this area (and across the country) get access to healthcare insurance through an employer, it’s crucial for local companies to ensure that their programs are comprehensive and affordable. Offering a full package of benefits is a great way for local companies to attract and retain the high-quality employees they need.

Bay Minette AL Large Group Health Insurance Plans

Per the definition in the Affordable Care Act (ACA), a large company has fifty or more workers. These companies are called Applicable Large Employers and must offer health insurance for their workers or face penalties. In addition, ACA requirements specify that small coverage must meet an affordability standard (costing the employee no more than 9.12 percent of their gross household income) and provide ten essential minimum benefits:

  1. Ambulatory patient services (outpatient care)
  2. Emergency services
  3. Hospitalization, including surgical and medical
  4. Maternity and newborn care, including delivery
  5. Mental health and substance use disorder services
  6. Prescription drugs
  7. Rehabilitative services and devices
  8. Laboratory services
  9. Preventative and wellness services, including chronic disease management
  10. Pediatric services, including dental and vision care for children under the age of 19

Bay Minette, AL Small Business Health Insurance Plans

Small businesses (typically defined as having fewer than fifty employees) don’t have a legal obligation to offer affordable small group health insurance to their workers, but they can if they choose to. The U.S. Bureau of Labor Statistics estimates that approximately half of the small companies provide access to medical insurance through the company. Many also pay a portion of the premium for the employees and sometimes for their dependents as well. To assist with the red tape and start-up challenges, small firms can find assistance in establishing and administering their insurance plans through programs created in conjunction with the Affordable Care Act. Ask your Taylor Benefits Insurance consultant for more information.

Bay Minette AL Employee Benefit Plans and Employee Benefit Packages

Along with health insurance, one of the preferred benefits for employees is a retirement savings plan. In surveys, retirement assistance often ranks in the top three or four. Yet, only about half of Alabama employers offer a retirement program to their staff. Among many choices for small firms, the SEP IRA (Simplified Employee Pension Individual Retirement Account) is suitable for companies with under twenty workers. Each year, the owner can decide whether to contribute or not, making it more flexible than some other programs that require an annual commitment.

SIMPLE IRAs are an alternative for slightly bigger companies, and these have more choices around contribution levels. In either a SEP or SIMPLE plan, the company contributions immediately belong to the account holder with no vesting period. This approach is part of the administrative tactic that allows the plans to use streamlined procedures for complying with nondiscrimination protocols.

As with a health insurance plan or other benefits offerings, it’s wise to get professional guidance when you consider creating a retirement program. Talk to your Taylor Benefits Insurance specialist about the best option for your company.

Call 800-903-6066 for a free consultation on Bay Minette Group Health Insurance & Employee Benefits Plans.

Who are We?

Taylor Benefits is a trusted and reliable partner for all your group insurance and employee benefit plans in Bay Minette City. Because we are an independent broker, we can search the offerings and find the best risk solutions for your company. We can choose the best options from various insurers and customize a robust program to meet your needs and stay within your budget.

At Taylor Benefits Insurance Agency, we work with employers across Bay Minette City to provide comprehensive health insurance and employee benefits plans.  We are proud of our extraordinary experience in writing employee benefit plans for more than 30 years.

With our in-depth knowledge and access to competitive carriers, we will recommend a benefits plan that you can use to provide your employees with group health insurance and other employee benefit plans.

Insurance Products By Taylor Benefits

The MetLife 12th Annual U.S. Employee Survey reported that benefits have a substantial impact on whether potential recruits accept an offer and whether current employees stay or leave for new opportunities. Offering your workers a good health insurance and employee benefits plan will set you apart as an employer of choice in Bay Minette City.

Taylor Benefits offers a range of group health insurance and employee benefits packages that the MetLife survey classified as must-have. They include:

You can find detailed information on these group and employee benefit plans here.

Bay Minette group health insurance plans

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Why Taylor Benefits?

Taylor Benefits Insurance takes the time to understand your company’s needs so we can develop a satisfactory and affordable plan for your team. Our professionals will also review your program annually to ensure that your benefits remain competitive and that you are compliant with ACA and other regulations. We can also assist you with COBRA administration through a third-party if you need it.

Our recommendations may include PPO (Preferred Provider Organizations), HMO (Health Maintenance Organizations), and ancillary benefits like dental insurance, vision plans, life insurance and disability coverage. We will give you all the coverage information and data you need to make the right decision based on your employees’ needs and your financial resources.

We can help you determine which benefits are the most important for your workforce and identify the options you can skip without adversely affecting your employees’ motivation and loyalty.

Get in Touch

If you need group health insurance and benefits plans for your employees in Bay Minette City, we’re ready to help. Call us today to find out how easy it is to get started.

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