- Providing world class service and value for employee benefit group plans since 1987
Boston is home to some of the most talented and highly educated professionals in the country. With thriving industries in healthcare, education, finance, and technology, businesses here face tough competition not only in the market but also in recruiting and retaining top talent. In such a sophisticated job environment, offering excellent group health insurance and employee benefits is no longer optional — it’s a business necessity. According to the Bureau of Labor Statistics, about 68% of private sector workers receive healthcare benefits through their employers, and in a professional hub like Boston, employees expect even more.
At Taylor Benefits Insurance, we bring decades of experience to the table, helping Boston businesses design customized group health plans and employee benefits packages that attract the best, build loyalty, and keep teams healthy and focused.
In a city renowned for its high cost of living and competitive job market, offering group health insurance in Boston delivers several advantages:
Stronger Recruitment: Top-tier candidates often prioritize healthcare and benefits over salary alone.
Increased Retention: Satisfied employees are less likely to leave, saving you the high cost of turnover.
Enhanced Company Image: Businesses offering robust benefits are seen as reputable and caring employers.
Tax Savings: Employer contributions to healthcare premiums are typically tax-deductible.
Taylor Benefits Insurance works closely with Boston employers to create benefits solutions that align with company goals, budget constraints, and employee expectations.
Large companies in Boston must abide by the ACA provisions and the more progressive state health care rules. The ACA requires employers with more than fifty workers to offer affordable, comprehensive policies to most employees. The affordability standard limits workers’ costs to 9.61 percent of their gross income. Also, the policy must cover at least sixty percent of anticipated medical expenses. The ten essential benefit areas every policy must address are:
While the ACA does not apply to companies that employ fewer than fifty workers, Massachusetts will assess a penalty against companies with as few as eleven employees if any of their workers obtain coverage on Connector Care or MassHealth. Since people are not eligible for Connector Care policies if they have access to employer-sponsored insurance that provides an acceptable minimum value. On the other hand, if the employee’s wages are low enough to qualify for MassHealth, the employer can be assessed the penalty even if they offer adequate employer coverage. There are some exceptions to this provision.
Boston is a competitive labor market. One way for a business to attract top talent is by developing an excellent benefits package. Tech companies and start-ups often lead the way, innovating with new offerings. Some of the recent additions to foundational stalwarts like health insurance paid time off, and retirement savings that are getting a lot of attention include:
We offer our clients the following range of employee benefits. Depending on your healthcare needs, we can provide additional, or more comprehensive, coverage. Choose the healthcare you want with group healthcare insurance plans that are custom written by independent agencies.
In 2016. Insurance premiums for one of the more-popular healthcare plans in Boston (Massachusetts) raised its premiums 21 percent. This is not an isolated instance. Rates and premiums are rising on healthcare insurance plans across the country as insurance providers find themselves unable to make healthcare insurance as profitable as it once was.
Now that the majority of people have healthcare insurance, and those that do not are required to get it by law, insurance providers are unable to set their own rates, determine their own premiums, or deny coverage based on pre-existing conditions. Insurance is no longer uniformly profitable for providers, so they are raising premiums. Do not let yourself be trapped by inferior insurance plans when you can switch to group insurance today.
With the future of Obamacare politically and legally uncertain, and insurance providers raising rates dramatically, Boston residents need healthcare that works for them. They need healthcare coverage that is affordable and comprehensive. They need group insurance that is custom-written by an independent agency like Taylor Benefits Insurance.
Hospitalized patients in the United States who need financial assistance typically receive it from healthcare specialists under comprehensive insurance plans. In Massachusetts, health insurance coverage has been a requirement since 2006. Even after the Personal Responsibility Payment under the Affordable Care Act was repealed, Massachusetts law still imposes a state tax penalty for failure to have health insurance. Following are answers to some of the most commonly asked questions about health insurance in Massachusetts.
Generally, group health insurance is designed for employees of a business, so freelancers and independent contractors do not qualify for traditional group plans. However, they can explore alternatives such as joining a professional association that offers group benefits or looking into individual health insurance plans that often provide similar coverage options. Some carriers also offer “association plans” or cooperative group plans that allow independent workers to access benefits typically reserved for employees of larger organizations.
An organization with more than 50 employees is covered by a big group health plan. There are no legal limitations on the number of employees that can be covered by large group health plans. You can secure group health insurance for your employees regardless of your company’s size or sector. Beneficiaries with specialized needs and risks may benefit more from individual health insurance policies.
Small Business Group Health Insurance is available from the following businesses in Boston, Massachusetts:
• eHealthInsurance
• Blue Shield
• Kaiser Foundation Group
• Unitedhealth Group
• Coventry Corp. Group
• Humana Group
• Blue Cross
• HIP Insurance Group
• UHC of California
• State Farm
• Metropolitan Group
• HCSC Group
• Carefirst Inc. Group
A growing number of employees appreciate the benefits packages they receive at work. Because of this, firms offer their employees’ health and retirement benefits that are reasonable. Organizations of all sizes can benefit from these benefits:
• Health Insurance – Health insurance can have a significant impact on an employer’s ability to hire employees during the hiring process.
• Vision & Dental – Businesses frequently select a less expensive vision or dental insurance policy or simply discount them.
Retirement and 401(k) – Even young employees understand the importance of planning for the future. Ensure your employees have a pension plan that sets you apart from the competition.
The company and the employee pay for a comprehensive health insurance policy together. Approximately 70 percent to 90 percent of Boston’s total health insurance costs will be borne by business owners.
Most Boston group health plans now cover telehealth services. Employees can access virtual doctor visits for convenience, minor illnesses, and mental health support, reducing time off work while improving overall care access.
With just one or two employees, the majority of Boston businesses are eligible. In many situations, eligibility is contingent upon having at least one W-2 employee in addition to the owner. Small and expanding businesses are typically eligible under Massachusetts small group regulations, though specific requirements may differ slightly depending on the carrier.
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 just started working with Taylor Benefits and could not be happier. Todd gave us quite the education as well as some time saving tools to help us manage our HR and save money too. We are looking forward to a long relationship!”
-Carol, Accounting Manager, recruitment marketing company, Campbell, CA
We’re ready to help! Call today: 800-903-6066