El Paso Group Health Insurance

Most individuals working for an El Paso company have families to care for at home. They must protect them from illness and provide care for their futures. In this case, their interest in the most affordable yet flexible health and employee benefits plan is almost guaranteed. Without a group health insurance plan, preparing for the future and staying in good health is impossible with today’s increased healthcare rates. Even receiving a fruitful education can be difficult which is why it’s so important to attract and retain employees through health insurance at a low premium.

Here at Taylor Benefits Insurance Agency, we work with some of the most reputable insurance carriers nearby El Paso. Through our connections, we come up with the best plans, benefits, and programs for small and even corporate businesses, throughout the State of Texas. We find these employees benefit and health plans at lower rates and premiums by going through our reliable insurance carriers. Our carriers have been cooperative and understanding which is why we choose to work so closely with them.

El Paso, TX Large Group Health Insurance Plans

The Affordable Care Act (ACA) mandates that large employers provide El Paso large group health insurance for their workers. The law also established standards for coverage, including affordability. The employee’s monthly premium share must be less than 9.12 percent of their income (for 2023). Otherwise, the charge exceeds the affordability threshold. Employers also must provide coverage for dependents but don’t have to meet the affordability standard.

Also, insurers must design the plan 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

El Paso, TX Small Business Health Insurance Plans

Small companies (with fewer than fifty workers) are exempt from the ACA mandate to provide their employees with access to health insurance policies. That may be why small businesses are less likely to provide it. Still, when a smaller company does offer insurance, they are more likely than a large company to pay a significant portion of the employees’ cost. Small businesses with insurance programs must meet the same affordability and coverage standards as large ones.

El Paso, TX Employee Benefit Plans and Employee Benefit Packages

Since small companies don’t have to offer health insurance, they might not have a benefits program of any sort. However, large businesses will at least provide health insurance as required, and often more.

Workers with large organizations typically receive more benefits and more options. On average, benefits expenses add thirty percent to the cost of an employee. Of course, the amount varies by company and by the employee. Health insurance is typically the number one request and most common benefit. However, paid time off is a common perk that employees expect. When asked, workers say they want a retirement plan, but the enrollment is low for those companies that offer one. Other desired benefits include family leave, dental and vision insurance, childcare assistance, tuition reimbursement, flexible scheduling, and remote work options.