Bessemer boasts of being home to numerous major industries and companies that foster full economic growth and development in Alabama State. It is a city on the move hence employers strive to meet the ever-increasing demands for better benefits plans from their staff.
A group health insurance and employee benefits package is definitely an incentive that will establish your reputation as a choice employer among job seekers and sustain a hardworking staff. The decision to provide a comprehensive benefits plan will definitely yield more benefits for you than you can imagine.
If you are a small business owner in Bessemer, you definitely want to know what you stand to gain by offering your employees group health insurance. There’s definitely more you will gain than merely recruiting and retaining top talent and seasoned employees.
The Affordable Care Act makes a provision for special federal tax credits for small businesses that offer health insurance, vision insurance, and dental insurance to employees at about half the premiums. What this means is that the federal government is essentially supplying you a tax credit that you pay about half of the contribution to the group health insurance plan. You may also enjoy a tax deduction so that you take the money you pay toward the premiums.
If you are looking for large group health insurance for your company in Bessemer, Alabama, you have many choices. Even as the cost of health insurance continues to rise, so do the options. In addition to traditional indemnity and point of service plans, employers can offer preferred provider and health maintenance organization programs to reduce their premium expenses. Subscribers can also lower their contributions by opting for high deductible plans and, in some cases adding a health savings account to the mix.
Preferred provider organizations are the most common selection in Alabama and elsewhere due to the combination of price and freedom. In addition, subscribers prefer the choice to seek care outside a network, which is often prohibited by health maintenance organizations (except during emergency circumstances.) Within the coverage type, plans are now categorized by their metal tier (bronze, silver, gold, and platinum), with higher premium plans offering lower point-of-service costs in most cases. For example, platinum typically costs the most and covers the most. Each tier may provide a different deductible, co-payment, and out-of-pocket maximum besides a different premium.
Small businesses face a squeeze as they want to offer small group health insurance coverage for their workforce but need to stay within a budget. Coverage can seem prohibitively expensive without the larger number of employees required to obtain a reduced rate. Still, recent improvements in affordability and federal assistance are bringing health plans to more small-company workers than ever. In addition, the Affordable Care Act and SECURE increase the support for small business owners by providing a tax credit plus an accessible marketplace for plans.
In Alabama, over eighty percent of employers provide job-based health insurance for their workforce. Almost a quarter of those companies pay the entire expense, and thirty-four percent contribute nothing. The rest share the cost with their employees. In contrast, only half of the companies surveyed by the Department of Labor provide a retirement savings plan, with a greater concentration in health and education companies than in leisure and hospitality. Twenty-five percent of employers allow workers to contribute to flexible spending accounts either for health care, dependent care, or both. The same percentage of companies have a program to reimburse employees for specific education expenses.
While eighty-six percent of companies provide some amount of paid vacation time, less than half offer paid sick leave for full-time workers.
We are a leading group health insurance and employee benefits provider serving businesses and employers in Bessemer. We offer outstanding benefits packages to ensure your employees and their families are not just healthy but also financially stable.
We present to you a benefits program that is consistent, comprehensive, and customized in order to give you a competitive edge over other employers in Bessemer. Most importantly, we help you work towards attaining tax credits through compliance with the law.
We tailor a perfect group health insurance and employee benefits plans that meets your goals. Some of the benefits you can expect include:
Are you looking for a Bessemer Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.
We’re an independent insurance brokerage agency with a knack for helping businesses provide sound group health insurance and employee benefits to their employees. We have 30 years of experience and expertise in this field.
We work with top insurance carriers to devise comprehensive and competitive packages that enable you to attract and retain top candidates in Bessemer. We’re committed to ensuring you have a benefits program that compliments the objectives and goals you are looking to achieve as an organization.
We can’t wait to craft for you a group health insurance and employee benefits package that will see you keep your most valued workers healthy and happy. Call our toll free line now 800-903-6066 to get free consultation from one of our benefits agents. We can also provide you with a free quote here.
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