Boise Group Health Insurance & Employee Benefit Plans

Boise ID Large Group Health Insurance Plans

The ACA (Affordable Care Act) requires that large companies – those with fifty or more employees – provide health insurance for their workers. The law has several provisions for affordability and quality.  To meet the affordability requirement, the employee’s share of the premium for individual coverage can’t exceed 9.61 percent of their income. For example, if the worker’s pay is $50,000, the affordability threshold is $4,805 for that individual. Coverage must also be offered to dependents but doesn’t have to meet that standard.

Also, the plan must pay at least 60 percent of the total anticipated cost of medical services for a “standard” subscriber. Finally, every health insurance policy must cover these ten essential benefit areas:

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

Boise ID Small Business Health Insurance Plans

The ACA doesn’t cover small companies with less than fifty workers. The reason is that insurance coverage can be a significant expense and may burden small businesses. However, these companies may want to help employees because they recognize that the cost can also create a burden for the worker. One way to help is to manage a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). This program allows employees to pay for medical expenses with pre-tax dollars that the employee sets aside in the account. Sometimes the employer also contributes to the account, but that’s optional.

If a business offers a QSEHRA, it must open it to all full-time employees. The company decides each year if it wants to contribute to the funds. However, they can’t also have a group health plan or a flexible spending account (FSA). A consultant with Taylor Benefits Insurance can help you evaluate this option.

Boise ID Employee Benefit Plans and Employee Benefit Packages

• Employee benefits include various components, usually highlighted by health insurance and paid time off. Some of the more requested benefits include:
• Paid time off (vacation, holiday, and sick leave)
• Family leave
• Retirement support
• Health Insurance
• Dental and vision insurance
• Flexible working schedules
• Remote or hybrid location
• Childcare support (and elder care assistance)

Boise Group Health Insurance and Employee Benefits

Boise is not only the capital but also the most populous city in Idaho. This city is vibrant, with an enduring and values-driven economy. It is home to numerous employers owing to the fact that it provides the right atmosphere for business including a skilled work-force. The onus then is on you as an employer to recruit and retain the best candidates in your industry to propel your business forward. One of the powerful tools to help you achieve this is by offering a competitive group health insurance and employee benefits package.

Group health insurance and employee benefits

Offering a group health insurance and employee benefits plan does more than make your employees happy. A recent study found that offering health insurance played a pivotal role in increasing productivity among employees. As an employer, you definitely want your employees in Boise to focus on being productive and successful at the workplace. However, you cannot achieve this if your employees are constantly worrying about health insurance as it eventually drains their time and energy. Employee benefits go a long way towards creating a healthier and happier work environment while saving you money.