Birmingham Group Health Insurance & Employee Benefits Plans

Birmingham Group Health Insurance and Employee Benefits

Birmingham is the most populous city in Alabama and is home to a number of Fortune 500 companies. The Birmingham metropolitan area has been consistently rated among the best places to work and earn a living based on the area’s competitive pay and relatively low living expenses.

Employers in Birmingham typically offer their employees an attractive group health insurance and employee benefits package through the Birmingham health insurance marketplace. Doing so is a major factor in attracting and retaining a competitive workforce. Providing great benefits can reduce the cost of recruiting and training new staff by lowering employee turnover, which could hurt your company’s bottom line.

Premium subsidies vary depending on factors such as income, family size, and geographic location, as well as the cost of health insurance premiums in a particular area.

Birmingham group health insurance plans

Birmingham, AL Large Group Health Insurance Plans

Many large employers offer large group health insurance for their workers, and it’s always listed among the most preferred benefits when companies survey their workforce. The larger the group, the more options the employer may be able to offer, depending on how much of a subsidy the company intends to provide. Some larger firms opt to self-insure, which means that the company pays the subscriber claims out-of-pocket rather than paying an insurance company.

Most self-insured organizations use a third-party administrator or an insurance provider to manage the claims, but they provide the money. The well-respected Kaiser Family Foundation survey points out that most large companies (defined in their research as having more than 200 workers) are self-insured.

Large companies are better prepared to accept the risks associated with self-insurance because some illnesses or other incidents can result in costly claims. However, many limit their exposure by purchasing stop-loss coverage to protect them against expense spikes. The difference between coverage through an insurance company and self-insurance is typically invisible to the subscriber. However, self-insurance can allow employers to customize their coverage in ways that a traditional insurance plan might not allow.

Birmingham, AL Small Business Health Insurance Plans

In major metropolitan areas like Birmingham, both large and small groups have excellent options for choosing health insurance. The Affordable Care Act requires companies with more than fifty full-time workers (or the equivalent of fifty reached by combining part-time employees) to provide health insurance to 95 percent of their full-time employees.

Small companies with fewer than fifty employees are not required to offer insurance coverage but can receive incentives for doing so. The Affordable Care Act also created support services for small companies to assist them in implementing coverage plans. The Affordable Care Act provides financial assistance to individuals with incomes between 100% and 400% of the Federal Poverty Level (FPL) to help them afford health insurance premiums and out-of-pocket costs.

  • Have fewer than 25 full-time (or equivalent) employees
  • Pay average wages of less than $53,000 annually (with an adjustment for inflation)
  • Offer a health plan using the federal SHOP (Small Business Health Options Program) Marketplace
  • Pay at least half the cost for each worker (not for dependents)

Talk to your Taylor Benefits Insurance consultant about the best approach for your Birmingham business.

Birmingham, AL Employee Benefits Plans and Employee Benefits Packages

Creating a benefits package for your employees in Birmingham is critical to your effort to hire and retain the best staff. Workers know it’s a buyer’s market these days, and they won’t hesitate to move on for a better offer. So consider a combination of traditional and offbeat pieces in your plan to appeal to a broader array of employees.

For example, it’s clear that most workers want to have a good health insurance plan, paid time off, help with retirement benefits, and flexibility to achieve an excellent work-life balance. If you have those basics, how can you add some flair? These days, remote work or a hybrid of remote and in-office work is an attractive option for many.

One steadfast lure for those who work in the office is free food—perhaps the occasional lunch or snacks to go with office coffee and tea. Everyone loves “bring your dog to work day,” and if you still have a business dress policy, consider casual Tuesday AND Friday. Adding some creative options can add fun and appeal to your benefits package without breaking the budget.

Group health insurance and employee benefits

Group health insurance and employee benefits plans play an important role in workers’ employment decisions. In particular, health benefits are an important tool in employee attraction and retention.

Top candidates will often look into the kind of benefits you are offering before accepting a job offer in Birmingham. Consequently, most people would be willing to leave their current job for a new employer if they were offered a better benefits package. It’s no longer about the salary.

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

Who We Are

Taylor Benefits Insurance Agency is a full-service insurance broker specializing in group health insurance and employee benefits. We continuously strive to deliver great client satisfaction through our attention to detail and careful consideration of your best options.

We help you to offer an affordable, high-quality benefits package that won’t break your budget. We combine the best products from multiple insurance providers to create a complete package that’s well-suited to your workforce needs.

Birmingham group health benefits and employee insurance plans

Insurance Products By Taylor Benefits

Here are some of the group health insurance and employee benefits that we offer:

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Why Taylor Benefits?

At Taylor Benefits, we’re an independent agency offering the best and most affordable group health insurance and employee benefits plans in Birmingham. We leverage our years of experience in handling group health insurance and employee benefits to negotiate for lower monthly premiums and to customize competitive benefit plans.

We know the value of healthier and happier employees, so we ensure that your plan meets your employees’ and businesses needs. We will also guarantee that your plans meet the ACA requirements. You won’t have to worry about compliance penalties when you work with Taylor Benefit.

Talk To Us Today!

Give us a call today for more information on your group health insurance and employee benefits options. We are ready to take you through all your insurance options before giving you a free proposal. Call 800-903-6066 now.

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