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!
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:
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:
Talk to your consultant about options for your company.
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:
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.
Customization – Every company or employee group is different and has unique health insurance and benefit requirements. We work one-on-one with you to determine what works best and take a holistic approach to assessing your health and benefit needs: we look at company size, work culture, specific needs or requests and cross reference your employee profile with all the major insurance providers in the California to find the best and most affordable fit.
Monitoring – The benefit and group insurance needs of a business can evolve over time (as can the laws that regulate them). In order to stay tuned in to what’s best for your business and it employees, we conduct an annual policy review during the renewal period. This is done to make sure you’re on track to meet your coverage and financial goals, as well as stay compliant with updated changes in health care law.
Administration – You don’t have to worry about dedicating staff resources and time to managing your employee benefits and health insurance offerings. We provide all clients with a complimentary online HR tool that makes it simple to manage health benefits administration for an entire company.
Affordable Car Act In California – Learn about the Affordable Care Act (“Obamacare”) and how it will affect Californians and state businesses with the informational resource from the California Healthcare Foundation.
Employer Sponsored Health Insurance (PDF) – A 2013 report that details trends in employer sponsored health insurance by state. The information was complied by the Robert Wood Johnson Foundation, which is the largest U.S. philanthropic organization dedicated exclusively to health care.
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