Insights and Empowerment: Making the Most of Your Summary Annual Report (SAR)

Tuesday, June 6, 2023 17:17 Posted by Admin

Imagine your 401K plan as an uncharted treasure island, and the Summary Annual Report (SAR) as the masterfully drawn map that can guide you to its hidden wealth. Each marking and inscription on this map, no matter how cryptic it seems, can bring you one step closer to the promised fortune. The SAR, a legally protected right for every plan participant, is an annual snapshot of your 401k plan’s health and activity. It spans across a plan year, documenting everything

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What is Open Enrollment- Understanding the Basics of Employee Benefit Enrollment

Sunday, June 4, 2023 15:52 Posted by Admin

Health insurance open enrollment is a critical time for individuals and families to sign up for or make changes to their health coverage. This period happens once a year, providing a window of opportunity for those who want to evaluate their current health insurance plan and potentially switch to a different one. Open enrollment is essential because it allows people to choose the best insurance plan for their needs, ensuring they receive the necessary care at an affordable cost. The

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HRA vs FSA: Decoding the Differences & Choosing the Best Health Benefit

Saturday, May 27, 2023 10:00 Posted by Admin

Choosing between Health Reimbursement Accounts (HRA) and Flexible Spending Accounts (FSA) can feel a lot like deciding between two alluring vacation destinations. Both offer unique attractions, but they cater to different preferences and needs. Just as you'd weigh the sunny beaches against majestic mountains, so too must you evaluate HRAs and FSAs to find the best fit for your healthcare needs. The decision becomes even more important when you consider that, much like planning for a holiday, your healthcare benefits

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Importance of Health Care for Employees: Why invest in your team’s well-being?

Thursday, May 25, 2023 08:11 Posted by Admin
health care for employees

At Taylor Benefits Insurance Agency, we firmly believe that investing in your employees' health is more than just a noble endeavor; it's a strategic move that can pay significant dividends for your business. A comprehensive health insurance plan can enhance employee satisfaction, foster loyalty, reduce turnover, and even boost productivity - benefits that any business, especially small business owners, can appreciate. This article will delve into the importance of offering employees health insurance, its moral and financial imperatives, and the

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Unveiling 2023’s Top Employee Benefit Trends: The Secret to Employee Retention?

Tuesday, May 16, 2023 07:10 Posted by Admin

How much does an employee value paid leave? Could a health and wellness program determine whether an employee stays or leaves? In 2023, we find ourselves in an era where popular employee benefits significantly influence job satisfaction, performance, and ultimately, retention. According to the Society for Human Resource Management, 92% of employees asserted that benefits are important to their job satisfaction. Surely businesses missing on employee benefits trends are also missing out on

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Legally Required Employee Benefits & Mandatory Health Insurance Coverage

Monday, May 15, 2023 10:08 Posted by Admin
legally required employee benefits

Do you know what benefits employers are legally required to provide to their employees in the United States? If you're an employer, are you confident you're meeting all the legal requirements? According to a survey by the Kaiser Family Foundation, 56% of small firms and 99% of large firms offer health benefits to their employees. However, health insurance is just one piece of the puzzle. There are several other legally mandated benefits, and understanding these requirements is crucial for

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Employer Cost for Health Insurance: Group Health Insurance Benefits

Saturday, May 13, 2023 22:43 Posted by Admin

How can you make sense of all the information out there about employee health insurance cost? What are the key points you need to know about employer sponsored health insurance? Is it the right choice for you or your company? Whether you're an employee considering your health insurance options or an employer thinking about offering a group health insurance plan, we're here to guide you through the complex landscape of employer sponsored health insurance. In this article, Read Full Article Here

Employers 401K Match- Employer Contributions vs. Employee Contributions

Sunday, May 14, 2023 08:13 Posted by Admin

Ever wondered how your 401K plan works? Or why it's recommended to maximize your contributions? Most employees have minimal to no knowledge of how a 401 K matching works but it's an integral part of your health plan defining employer's and employee's contributions. As a leading provider of insurance and retirement plan services, we at Taylor Benefits Insurance Agency understand these questions are crucial when planning for your golden years. Let's demystify the concepts of

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Summary Plan Description (SDP): Understanding Its Meaning & Functionality

Friday, May 12, 2023 16:44 Posted by Admin

Summary Plan Description (SPD) is an essential document for every employee participating in their employer's benefits plan. Many employees are unaware of SPD and therefore, fail to navigate it effectively. In this article, our experts at Taylor Benefits Insurance agency will break down what an SPD is, what's its importance, and how it operates. Let's learn how SPD influences a health insurance plan and retirement benefits with our comprehensive guide of summary plan description.

Overview: What Is a

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The Future of Employer Group Health Insurance: Trends and Predictions

Thursday, April 27, 2023 18:22 Posted by Admin

As a leading provider of group health insurance plans, we understand the importance of staying informed about the ever-evolving landscape of group health insurance by employers. Our clients rely on us to provide the most up-to-date information on industry trends and predictions, helping them make informed decisions about their group health plans. In this article, our experts at Taylor Benefits Insurance agency have discussed various aspects of the future of employer

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