Detroit Group Health Insurance & Employee Benefit Plans

Detroit group health insurance plans

Detroit MI Large Group Health Insurance Plans

Large companies in Detroit, much like those in Grand Rapids and others scattered throughout the United States, understand that they must provide high-quality health insurance to their employees—a fact strongly acknowledged in the health insurance marketplace. This duty is not only one of the Affordable Care Act (ACA) requirements but also a critical priority for the workforce. To keep up with the changes in insurance policies, employers must understand the extensive information about the health care coverage offered, from prescription drug coverage to service area details. Additionally, in adherence to the ACA, employers must maintain control of expenses, ensuring the amount spent on policies is within permissible limits through an efficient individual member account program.

A company’s director—responsible for deciding on health plans and amounts—often faces a dilemma. The conflict lies between offering the affordable, comprehensive policies that ACA calls for, and meeting the high-end price associated with premiums. With rising health care expenses, companies are limited in the amount of increase they can pass on to their employees via deductibles. This struggle is visible even when the employer expands their network to include services like Medicaid, Medicare Advantage, and disability insurance during the open enrollment period available to everyone.

One solution for large companies is self-funding, a unique health insurance strategy where, instead of purchasing a classic insurance plan, the company directly pays for the medical expenses their workers incur. This setup allows employers to incorporate prescription drug coverage and other services such as doctors within their chosen networks. After analyzing numerous cases, it’s apparent that the expertise provided in company-wide enrollment in such schemes can save substantial amounts of money compared to traditional health plans. To manage the claims through an individual member account, businesses often employ a third party—either a representative of employers or an insurer. To limit their risk, some also invest in a stop-loss policy—with a hopeful eye on noticeable positive change in the long run.

Detroit MI Small Business Health Insurance Plans

When it comes to small companies employing fewer than fifty people, offering health insurance is voluntary. Yet, no matter the size, disability insurance and other health plans remain a priority among employees. Small businesses are often confronted with a higher per-capita cost than large businesses that provide Medicare supplement policies. It could be catastrophic for these firms to adopt the self-funding scheme since a small number of significant claims could drain their resources. Therefore, they might opt for an alternative called level funding. This approach contains some of the benefits of self-funding but restricts their exposure to high deductibles. The Taylor Benefits Insurance specialist—the director who comprehends the media noise surrounding health coverage—can guide companies through this process. 

Detroit MI Employee Benefit Plans and Employee Benefit Packages

Developing the best employee benefits package for your company is a balance of offering the perks that your employees want, along with controlling expenses. Health insurance is probably the most important and can be required if your business has more than fifty workers. That’s a great start, and workers also highly value paid time off for illness and vacation. To add to the appeal, consider some of these sought-after options:

  • Family leave
  • Retirement support
  • Dental and vision insurance
  • Flexible working schedules
  • Childcare support (and elder care assistance)
  • Remote work options
  • Free snacks
  • Wellness programs
  • Tuition assistance

Detroit Group Health Insurance & Employee Benefit Plans

With over 25 years of experience writing custom group healthcare insurance plans, Taylor Benefits Insurance is the best option that most Detroit residents do not know about when it comes to healthcare coverage. For the most affordable, most comprehensive, insurance plans, you need an independent agency like Taylor Benefits Insurance to write it. Our plans are not in competition with insurance providers’ plans, or plans offered through the state or federal exchanges. Our plans only cover group healthcare insurance. To this end, our plans are more beneficial to our clients, as we can offer more coverage at better rates than the competition. Our clients can achieve this because every member of their group pools their money to gain better coverage.

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

Group insurance is a great idea for sports clubs, workplaces, associations, and more. Contact us today to learn more about the benefits of group insurance.

What We Offer in Our Plans

The following health benefits are offered in our group healthcare insurance plans. We take great care to be able to provide our clients with the healthcare they need. If your current plan is not as comprehensive, you should consider switching to group insurance.

Detroit group health benefits and employee insurance plans

Healthcare is Still Out of Reach for Detroit Residents

In 2014, 8% of Detroit (Michigan) residents were uninsured, and 16.1% of residents were living beneath the poverty line. Even with potential employer coverage or Medicaid and Medicare options, just because someone has access to healthcare does not mean they can necessarily afford it. This is one of the oversights of Obamacare. There are still significant elements missing from the care provided by hospitals and other primary care solutions. Simply because 340 million Americans can theoretically afford healthcare insurance does not mean that healthcare insurance is a practical decision for individuals and families who cannot afford it. This is an area where media coverage should focus its attention on, for more concrete results to be achieved.

When it comes to healthcare insurance, every reduction in cost helps. Even if healthcare insurance is still out of reach, a reduction in deductible cost due to group healthcare coverage means that insurance is that much closer to being affordable. Group healthcare insurance plans written by independent agencies, like Taylor Benefits Insurance, provide an advantage making healthcare insurance and coverage more affordable. This, in tandem with diligent management of your member account, can prove to be beneficial.

All our group healthcare insurance plans are unique. We tailor our plans to ensure that our clients receive the detailed healthcare coverage they want. As an independent agency, we have more freedom to provide custom plans as we are not competing with anyone else in the healthcare insurance market. Reduce your coverage costs substantially today with group healthcare insurance from Taylor Benefits Insurance and enjoy the benefits of our varied and reliable list of healthcare solutions.

Relevant Statistics

  • Over 75% of employers in Detroit offer group health insurance coverage to their employees.
  • The average deductible for a group health insurance plan in Detroit is $750.
  • Approximately 85% of the population in Detroit with group health insurance have access to preventive care services.
  • The average premium contribution by employees for group health insurance plans in Detroit is 25%.
  • Group health insurance in Detroit provides coverage for an average of 80% of medical expenses.

General Facts

  • Detroit offers a variety of group health insurance plans for businesses operating in the city.
  • Group health insurance provides coverage for a group of people, typically employees of a company or members of an organization.
  • These insurance plans often include medical, dental, and vision coverage.
  • Detroit-based businesses can choose from different insurers and coverage options based on their specific needs and budgets.
  • Group health insurance helps ensure that employees have access to medical care and can receive necessary treatments without financial burden.

The Benefits of Taylor Benefits Insurance

All our group healthcare insurance plans are unique. We tailor our plans to ensure that our clients receive the healthcare coverage they want. We do not use cookie-cutter plans or provide generic service. As an independent agency, we have more freedom to provide custom plans as we are not competing with anyone else in the healthcare insurance market. Reduce your healthcare coverage costs today with group healthcare insurance from Taylor Benefits Insurance.

The Taylor Benefits Promise

Contact us today for a free estimate. Our estimates are provided without the need for payment, or an obligation to enroll in a plan. We simply want to show you the benefits of signing up for group healthcare insurance. If you are unsatisfied with your current healthcare insurance options, and you want healthcare that is more affordable and provides more coverage, contact us today to learn more.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Detroit, Michigan

It is the employer’s responsibility to obtain health insurance plans for its employees. This is a way of providing its employees access to quality healthcare reasonably. This insurance has numerous benefits and can be divided into small and large group insurance.

What Are Large Group Health Insurance Providers in Detroit, Michigan?

You can find various large group health insurance providers in Detroit. To name a few 

  • Blue Cross/Blue Shield Community Blue PPO
  • BCBSM 24-hour Nurse Line
  • Health Alliance Plan (HAP)
  • PCP Focus (Blue Care Network)

How Do Small Business Group Health Insurance Plans Work in Detroit, Michigan?

Four things are paramount when considering a small group health plan

  • If you qualify for small business health insurance, you can expect the insurer to provide coverage for your health care needs. It is illegal for the insurance provider to exclude anyone from coverage based on a pre-existing medical condition. This includes you and your family members. Your small business’s qualified employees and their eligible dependents can enroll in the new plan, irrespective of their health issues.
  • For your company to qualify for small business health insurance coverage, it is typically necessary to have at least one employee on the payroll. A licensed insurance agent can assist you in determining whether or not you are eligible for coverage in your locality.
  • It would help if you generally contributed at least half of your employees’ monthly health insurance premiums. The minimal percentage can fluctuate between states and insurance carriers. You can pay a portion of the tips for any dependents you have.
  • Last but not least, getting health insurance as a small business owner is possible anytime. The open enrollment period does not apply to you. For the first year of coverage, your premiums are usually fixed. Employers can add or remove employees and their dependents from their health insurance plans at any time during the calendar year.

What Should Employee Benefits Packages Include in Detroit, Michigan?

Detroit’s benefits package is among the best in the country. Here are a few perks that come with y’s employee benefits package.

  • Medical
  • Dental
  • Life Insurance
  • Long-Term Disability Insurance 
  • Vacation and Leave

How Much Do Employers Pay for Health Insurance?

Employers must set aside money for health benefits to keep and attract the best employees. There has been a 22% increase in insurance costs over the past five years, with a family’s insurance covering 73% of the premium and an individual’s insurance covering 43% of the bonus.

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