Escondido Group Health Insurance and Employee Benefit Plans

We have so much to offer any business in the State of California looking for a comprehensive group health insurance and employee benefit plan that suits the needs of those working for them at a cost everyone can afford.  Make an appointment with Taylor Benefits Insurance Agency to begin consulting and planning what you want to present to your employees. We’ll even offer the use of our online HR tool to your management so they can thoroughly explain the new plan to all the other employees once it has been decided on.

Escondido CA Large Group Health Insurance Plans

Major employers have a balancing act as they work to satisfy the ACA requirements for providing health insurance to their workers while keeping costs under control. According to the annual Kaiser Family Foundation report, insurance costs continue to increase, with total premiums (the combination of employer and subscriber contributions) rising by 22 percent over just five years. Companies must hold what the employee pays at less than 9.6 percent of gross income to meet the ACA affordability standard, even as prices rise.

Some cost-saving methods companies can try are increasing the deductible and changing coverage options. For example, some companies implement a high deductible plan, which can be supported by a health savings account (HSA). In large businesses, the percentage of workers with an annual deductible higher than $2,000 has risen from three percent to 22 percent since 2009. Also, many workers have coinsurance they did not have to pay previously. The payment might be a flat fee or a percentage of the charge. It could be the same for each service, or it might be higher for specialists.

Escondido CA Small Business Health Insurance Plans

Small companies may struggle to afford health insurance for their employees. There's no doubt that offering coverage can have a significant cost. However, many cover some of the expenses for workers, although the ACA does not require it for businesses with fewer than fifty employees. For some companies, it’s a way to ensure they can attract and retain top talent. For others, it’s part of their culture. The Kaiser Family Foundation benefits survey reported for 2021 that one-third of small companies with insurance pay the entire cost of individual coverage. Those who share the price with the worker often pay more than half. However, only half of the smallest companies (those with less than ten workers) offer health insurance.

Escondido CA Employee Benefit Plans and Employee Benefit Packages

In California, workers are eligible for paid family leave benefits for childbirth or adoption and illness. However, the state-funded program does not entirely replace the employee’s income, so some companies make up the difference. California companies also must give workers at least three days of paid sick leave annually.

California employers aren’t required to give workers paid vacation time or holiday pay. However, if a company does offer paid vacation days and an employee earns some but does not use them, they are entitled to receive compensation for those days when they leave that job.

Some California employers offer subsidies for commuting to and from work—usually for public transportation or carpooling. Some employers also sponsor and organize company vanpools. Workers can save time and money by using alternate means of transportation instead of driving alone in their cars.