Elk Grove Group Health Insurance & Employee Benefit Plans

Taylor Benefits is an independent group benefit and employee health insurance agent in Elk Grove that specializes in custom offerings designed around the needs of your business. We have extensive knowledge of all available plans in California and a working relationship with every major insurance provider in the state. Call us to learn more or get a FREE instant proposal through our online request form!

Elk Grove CA Large Group Health Insurance Plans

Large businesses must offer health insurance as an option for workers if they employ fifty or more people full-time. The ACA provides requirements detailing coverage and affordability. To be considered "affordable," the plan can’t cost the worker more than 9.61 percent of their income. However, that limit only applies to individual employee coverage, not including dependents' costs. Suppose the worker’s pay is $50,000 annually. For that person, the affordability limit is $4,805 for that individual, meaning that the premium could be as much as $400 a month. The program can also have a deductible and coinsurance (a fee each time the subscriber uses a service). Overall, it must be expected to absorb 60 percent of the costs anticipated for services needed by a typical subscriber. Finally, the plan must include 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

Elk Grove CA Small Business Health Insurance Plans

In metro areas like Elk Grove, California, small companies can choose from various options for providing health insurance. The Affordable Care Act Mandates insurance plans only for companies with fifty or more employees, leaving small businesses to decide whether and how they want to help workers with care. Companies seeking insurance for their workforce may get help from SHOP (Small Business Health Options Program) created by the ACA and incentives for rolling out coverage. The ACA wants to help small companies provide compliant plans.

Businesses may even qualify for a tax credit if they are eligible using these criteria:

• Employ fewer than 25 full-time employees
• Pay lower average wages (currently set at less than $53,000 yearly)
• Select a health plan using the Small Business Health Options Program or an eligible broker like Taylor Benefits Insurance.
• Subsidize at least half the cost for every worker enrolled (the company does not have to share the cost for dependents.)

Talk to your consultant about options for your company.

Elk Grove CA Employee Benefit Plans and Employee Benefit Packages

Health insurance and paid time off are two of employees' more common and preferred benefits. Depending on the company's size, adding more may be possible, and it’s a great idea to consider what is most attractive to your workforce. Many workers value these perks:

• Family leave
• Retirement support
• Dental and vision insurance
• Flexible working schedules
• Childcare support (and elder care assistance)
• Tuition reimbursement and student loan repayment

Which ones they ask for and respond to may vary according to their current life priorities. Young families may be more concerned with family leave and childcare. In contrast, others may want to work remotely or prefer help catching up on retirement planning. Some companies add so-called voluntary programs, which are often discounts they can offer to workers without a financial cost. These can include pet insurance, legal plans, life insurance, and other offers.