- Providing world class service and value for employee benefit group plans since 1987
Employer-paid benefits (sometimes explicitly referred to as 100 percent employer paid benefits) is an unusual offering that provides workers with access to some or all of their employee insurance coverage at no cost. While many companies share the cost with their workforce, most don’t pay the entire bill. In fact, worker contributions have been increasing over time, both as an absolute dollar amount and as a percentage of the total cost, according to research reported by the Kaiser Family
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Group health insurance plans are a common and culturally-expected benefit that comes with full-time employment in the US. Our private healthcare system is expensive and health insurance is one way that citizens in the US manage the costs of healthcare. With a group plan, the employer pays a portion of the premium and the employee pays a portion of the premium through a payroll deduction. A group health insurance plan provides coverage for typical medical costs like doctor’s visits,
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While many employed adults have large group medical insurance plans, somewhat fewer have access to group dental insurance. Large companies are more likely to offer it than smaller firms, as well as to pay more of the premium cost, according to Dental Plans, a trade association. Those companies that provide coverage to their workforce may offer either an indemnity plan or managed care options. Indemnity plans pay a set dollar amount for a menu of possible services, no matter
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Businesses big and small are eligible to purchase group health insurance. However, the rates tend to be more favorable for larger companies based on the number of participants. Still, group health insurance is still a nice benefit to offer employees.
The House of Representatives passed HR 2954—Securing a Strong Retirement Act—referred to as Secure 2.0, intending to help Americans save for their retirement. The Senate will now consider similar legislation, and Congress will later reconcile any differences in the two versions. This legislation would build on the changes made in the Secure Act of 2019. A hallmark provision of the 2019 law made it easier for small businesses to set up “safe harbor” retirement plans. This change allowed smaller
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The impact of Covid 19 has raised business and employee awareness about health issues and the importance of health insurance. Finding the best small business group health insurance provider and navigating the features, benefits, and costs remain a priority for small businesses. Let’s explore the health insurance benefits that matter most to employees and the critical ways group health insurance can benefit your small business.
If your company is like other businesses, trying to find ways to stand out and gain an advantage in the competition for qualified employees, then reviewing your optional employee benefits is one potential avenue to success. Current research indicates that workers care about the benefits package, and you may be able to get some attention with the addition of some less standard perks. That doesn’t mean you should skimp on the usual health insurance and retirement, of course,
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So many people are talking about the Great Resignation, as millions of workers leave their jobs and go…. well, where are they going, and why? Inc. Magazine published findings from a study conducted by Limeade, a consulting firm dedicated to employee well-being, which analyzed the reasons behind the labor force volatility of the last two years. According to Limeade, the top reason workers cite for leaving their previous job (over 40 percent) is burnout. Some workers are taking a
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When it comes to choosing the best type of group health insurance for your small business and your employees, there's a lot to unpack. Not all group health plans are created equal, and they vary significantly in how they're purchased and their essential features and options. Let's take a look at the most common types of group health plans available, the pros and cons of each for your business and employees, and the most important questions to ask your
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The majority (83% or more) of employers with 100 or more employees offer medical benefits. The number drops for smaller employers, simply because it becomes much more difficult to keep up with costs at a smaller scale, but the point is that employer benefits are the norm. Employee benefit plans include standard-issue benefits like group health insurance, retirement plans, and affordable life insurance. And there is a growing trend to increase benefits to include additional wellness services, flexible working
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Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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