- Providing world class service and value for employee benefit group plans since 1987
Finding the most affordable yet comprehensive employee benefits package that includes health insurance and other perks in Dallas, isn’t all that simple. As a business owner, you want options and the ability to cut down the time it takes to find an insurance carrier that you can trust. This is all made possible through a reliable, licensed insurance broker.
At Taylor Benefits Insurance Agency we have been helping individuals and companies find the most affordable benefit packages for employees for almost 30 years. We want to make sure you keep each hard worker and their family happy by offering them the best vacation, unemployment, insurance, flexible retirement plans, and more.
Our professional and generous insurance brokers will come up with the perfect insurance plan for you to introduce to your employees and their families. This shows them how much you care and want to prevent them from illness by providing medical coverage at low rates. If you’re trying to keep it simple, inquire about our most basic plans and benefits- PPO, HMO, FSA, and HSA. Otherwise, look below for other options.
Large businesses in Dallas need to offer their employees health insurance that satisfies the Affordable Care Act standards for affordability and coverage. The affordability threshold in 2023 means that the subscriber’s share can’t exceed 9.1 percent of the worker’s gross income. In addition, the policies must cover services that the ACA considers essential, or they may fail the comprehensive service standard. Businesses must also offer insurance to workers’ dependents, but the cost doesn’t have to meet affordability standards. Finally, insurers can’t deny coverage based on pre-existing conditions, and dependents can stay on a parent’s plan until they turn 26 years old.
Some companies prefer to allow workers to choose between plans, so they can select coverage that meets their needs. However, at least one option must meet the affordability standard, and all must include the essential benefit areas. In addition, the ACA uses a system of metal tiers (bronze, silver, gold, and platinum) to highlight each plan’s value, which helps subscribers research how much the plan will cover. For example, a bronze plan will have the lowest premium cost but cover the smallest portion of service costs. Conversely, silver, gold, and platinum will have a higher premium and cost less to use.
In Dallas, like anywhere else in the U.S., the cost of healthcare insurance can be challenging for small businesses. Yet over half of the small companies provide coverage to their employees, with some also offering it to dependents. Some pay part or all the cost. Small companies have benefitted from legislative improvements related to the ACA and SECURE Act, which support companies establishing coverage.
For example, there is a tax credit available for some small businesses. If the company has fewer than 25 employees who receive an average wage of less than $53,000 and if they offer coverage through the Small Business Health Options Program and subsidize at least half the cost, the company may receive the credit. Your Taylor Benefits Insurance consultant can help sort out eligibility.
A good employee benefits plan in Dallas can boost companies trying to recruit and retain employees. Often a worker’s primary consideration is the pay rate, but most also compare the benefits before accepting an offer. Health insurance is a critical component of a competitive benefits plan.
Paid time off is also near the top of the wish list for many workers. Texas companies don’t have to offer paid or unpaid leave to employees. Still, it’s a competitive labor market, so many provide time for illness and vacation.
After those basics, employees may be attracted by dental coverage, vision insurance, childcare assistance, retirement plans, and flexible scheduling policies.
Here are some concise answers to some of Dallas, Texas’s most common health insurance questions.
Most Dallas, Texas companies, provide health insurance that covers a wide range of medical procedures, including prescribed medications, hospital appointments, and surgeries.
Plastic surgery, for example, is not covered since it is judged unnecessary. Furthermore, because most health insurance policies exclude dental and vision coverage, these two health-related services must be obtained separately.
Employees, regardless of income, can contribute to group health insurance schemes. The average employee pays around $3240 in healthcare per year, which is roughly three times less than the estimated cost of healthcare in the United States.
Large group health insurance best suits businesses with more than 50 employees. As you use this health insurance plan, you may discover that it offers you coverage at a low cost with a significant discount. Some of the benefits of large group health insurance policies are as follows:
There are a number of major health plans available to small businesses in Dallas, Texas.
A group health plan is also a viable option. Group health insurance is provided by the employer, along with a monthly stipend to help with copays, deductibles, and other costs.
Risk is one of the reasons why many people avoid self-funded insurance plans. An employee is compensated based on the cost of prescriptions or medical bills, rather than monthly premiums.
Small businesses that have associate health plans, or AHPs, are at a slightly higher risk. Health insurance coverage for AHPs can only be purchased when a group of smaller companies joins forces to buy large health insurance.
Traditional group health insurance is also available. Employees may pay a portion of the fixed healthcare insurance charge to their employers in return for providing health benefits to their employees.
Qualified Small Employer Health Reimbursement Arrangements (QSEHRAs) are another type of health insurance plan. (At their discretion) employers might offer their employees a specific amount in benefits each month.
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.
We’re ready to help! Call today: 800-903-6066