Chesapeake Group Health Insurance & Employee Benefit Plans

Chesapeake Group Health Insurance and Employee Benefits

Chesapeake is the third most popular city in Virginia. This city comprises of a warm welcoming community with a lot to offer for businesses. This includes infrastructure, location and talent. If you’re looking to recruit new talent to join your team, you definitely want to hire highly skilled employees. To achieve this, you need to understand what potential employees are looking for; great organizational culture and employee benefits. Offering benefits helps to attract and keep workers on board for longer. Employees want to be able to take care of themselves and their families at an affordable price.

Chesapeake group health insurance plans

Group health insurance and employee benefits

Group healthcare insurance is one of the perks that most professionals seek when looking for a job in Chesapeake. Providing an affordable group health insurance and employee benefits is the best way to attract qualified personnel. A good benefits plan is also a great way of keeping your employees happy and healthy, as they are able to take care of themselves and their families. Employee benefit packages are a plus especially if you are experiencing an unreasonably high turnover. This sets your business apart as most workers will accept a job offer based on the benefits plan. In most cases, this includes vision insurance, health insurance, 401(k) plan and dental insurance.

Chesapeake VA Large Group Health Insurance Plans

The Affordable Care Act (ACA) requires large employers to provide affordable health insurance to their workforce and creates standards for adequate coverage. For example, the employee’s monthly charge can’t exceed 9.12 percent of their income, or the premium cost exceeds the affordability threshold. For example, if an employee’s salary is $50,000, the affordability standard limits their premium to $4,560 yearly. Employers also must provide coverage for dependents but don’t have to meet the affordability standard.

Also, each plan must be designed to pay at least 60 percent of the typical expense for a subscriber. And finally, every health insurance plan 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

Chesapeake VA Small Business Health Insurance Plans

The Affordable Care Act did not include small companies in its mandate to sponsor health insurance coverage. However, for those companies that want to offer insurance, the Act had resources to help. The ACA created SHOP (Small Business Health Options Program) as a resource and marketplace. Businesses can go directly to the SHOP website or get information from a broker like Taylor Benefits Insurance.

Small companies that administer insurance must follow the quality and coverage regulations. The ACA assigns each program a metal tier designation to indicate its value. For example, bronze plans have a lower monthly premium but higher costs for service. Silver, gold, and platinum will require a higher premium but should cover more usage costs.

Chesapeake VA Employee Benefit Plans and Employee Benefit Packages

For many employers, the foundation of a benefits plan is health insurance. The next most popular benefit is paid time off. Companies trying to improve their ability to recruit and retain employees may enhance their benefits offerings as an incentive.

One option is to add “voluntary benefits.” This approach involves sponsoring and administering programs that offer the employees access to discounts and money-saving offers. The employer may contribute little or nothing toward these perks but facilitates their availability for employees. The employee usually gets a better price from the group discount than they could find independently.

Voluntary benefits may include vision coverage, legal plans, pet insurance, long-term disability, long-term care, and discounts for other services like communications, recreation, and fitness centers.

Usually, companies will create a package of more traditional perks like health insurance, paid time off, and retirement savings and supplement those offerings with these extra options.

Dial 800-903-6066 and get free consultation on Chesapeake Group Health Insurance & Employee Benefit Plans

Who we are

Taylor Benefits insurance is a trusted agency with 30 years of experience working in the insurance industry in the city of Chesapeake. We have formed relationships with top insurance carriers in Chesapeake allowing us the flexibility of tailoring and negotiating the cost of your group health insurance and employee benefits plan. Our team of agents takes time to search through the database before formulating a benefits plan that is rewarding for your employees.

Chesapeake group health benefits and employee insurance plans

Insurance products by Taylor Benefits

We offer diverse health insurance and employee benefits options that make up a group plan. These include:

Are you looking for a Chesapeake Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

Why Taylor Benefits

As an independent insurance broker, we give you more options than you would have when you deal with an insurance company directly. We are able to find just about anything you need for your benefit plan from our network of insurance carriers in Chesapeake. We have a reputable history in dealing with both insurance carriers and businesses. We strive to ensure compliance to local, state and federal laws that includes the Affordable Care Act (ACA) so that you qualify for tax breaks while avoiding government penalties.

Relevant Statistics

  • Over 90% of employees in the Chesapeake region are covered by group health insurance.
  • Chesapeake Group Health Insurance offers a network of more than 2,500 healthcare providers.
  • The average annual premium for Chesapeake Group Health Insurance is $5,400 per employee.
  • The satisfaction rate among employers with Chesapeake Group Health Insurance is 95%.
  • Chesapeake Group Health Insurance provides coverage for over 100,000 individuals and families in the region.

General Facts

  • Chesapeake Group Health Insurance is a comprehensive health coverage plan offered to eligible members of the Chesapeake community.
  • It provides medical, dental, and vision insurance benefits to individuals who are part of a group or organization in the Chesapeake area.
  • The insurance plan covers various healthcare services, including doctor visits, hospital stays, prescription medications, and preventive care.
  • Chesapeake Group Health Insurance offers different coverage options and plans tailored to meet the diverse needs of individuals and families.
  • To enroll in the insurance program, individuals usually need to be affiliated with a participating employer or organization in the Chesapeake region.

Get in touch

Call our licensed insurance brokers for a free consultation and an estimate on your insurance and benefit plan. Talk to us today on 800-903-6066.

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