- Providing world class service and value for employee benefit group plans since 1987
Corona, CA, is a rapidly growing community in southern California, part of the “Inland Empire” that is known for affordable homes and long commutes. With 165,000 residents, Corona is a light industrial powerhouse that has seen an increase in storage and distribution businesses. Companies in Corona must battle for the best workers to help their company succeed. One great way to stand out in the competition for talent is by offering a robust benefits package that includes group health insurance. That access to insurance is a significant incentive for many prospective employees.
Large employers in Corona, California, are strongly interested in offering high-quality health insurance coverage for their workforce. While most companies typically included health insurance in their benefits package even before the ACA was passed, since then, it has been required. Plus, the Affordable Care Act codified specific requirements that companies must follow. These obligations include comprehensive coverage and affordability.
Under the Affordable Care Act, all group health plans and insurers must provide coverage without cost-sharing services given A or B ratings by the Preventive Services Task Force. So, while the overall number of businesses offering health coverage hasn’t changed much, the plans have often improved.
Affordability is essential, particularly for companies with lower-paid employees. The IRS standard limits the subscriber’s share of the premium cost to less than 9.12 percent of their gross income. That figure applies to private health insurance. The employer does not have to subsidize the offer for dependent coverage. Furthermore, each program must be designed to absorb at least sixty percent of the anticipated costs for a typical subscriber. That sixty percent is what a “bronze” plan would cover. That’s usually the least expensive choice if an employee has more than one health insurance plan to pick from. A silver plan might have a higher premium but cover a higher share of claims by requiring lower copayments.
The marketplace for small businesses—called SHOP and created by the follow-ups to the ACA legislation– has resources for smaller companies that want to offer health insurance to their workers. Companies can research the options for coverage, pricing, and information about tax credits.
Taylor Benefits Insurance can help you navigate the regulations and locate available support. Small companies must meet these criteria to be eligible for the tax credit:
Offering a benefits plan is an excellent way for companies in Corona and elsewhere to attract talented workers and keep the existing workforce from leaving. Most benefits packages start with health insurance since employees often expect that.
In California cities like Corona, employees are entitled to paid sick leave and the right to accrue up to forty hours. They also receive family leave through the state-run temporary disability program, plus job protection. Paid time off for vacation, personal time, and holidays is optional for employers but standard.
Other benefits that employees often wish for include:
Taylor Benefits Insurance is a leading broker with a track record of more than 35 years helping large and small companies devise and implement ideal benefits programs. Our consultants will take the time to get to know you so they can recommend options that will resonate with your team but not blow up your budget.
We will also help with implementation, enrollment, and administration. Furthermore, our consultants will conduct periodic reviews after you have implemented the program so they can monitor your progress toward objectives and ensure that you are maintaining compliance with applicable regulations.
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.
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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