Florida Group Health Insurance & Employee Benefit Plans

Most career-oriented individuals are concerned with the benefits and insurance options they receive at their place of employment. They need to have affordable options to help them plan for the futures of their loved ones at home and this includes protecting them from illness through reliable health insurance coverage. Luckily, the best way for a Florida company to rise above the competition is to offer health insurance coverage and employee benefits. This helps them attract and retain qualified employees.

Florida Group Health Insurance & Employee Benefit Plans

Taylor Benefits Insurance Agency can help your business find health insurance and benefits at an affordable cost and lower monthly premiums. We have been working with leading insurance carriers in the nation for nearly 30 years. When you call in, one of our licensed agents will go over all your options before they assist you in creating the perfect group health insurance and employee benefit plan.

Due to our longstanding history in the industry, we’re able to tailor plans and negotiate all private health insurance costs while still remaining in compliance with government code and the Affordable Care Act. Staying within the requirements of the law will help your business to qualify for tax breaks at the end of the year.

Florida Large Group Health Insurance Plans

Large employers in Florida usually offer comprehensive health insurance plans for their employees. As is the case elsewhere, many share the cost with the employees, subsidizing the expense but also requiring the worker to pay a portion. Employees often evaluate the choices between health care plans based on their premium cost and may not always thoroughly investigate the costs they will incur when they use the services.

Employers can help with this by providing ample communication explaining the options between health insurance plans, particularly when making changes. For example, large companies have increased usage of high deductible plans with accompanying health savings options (HSA). While this form of insurance coverage is often economical for subscribers, it can be intimidating to accept such a high deductible.

The employer will likely achieve a better acceptance rate if the employees get adequate information about the potential benefits of the health savings account. Communication is even more critical when the company makes a sizable contribution to the HSA, which is often the case. Your Taylor Benefits Insurance representative can assist you with informative material about any health plan.

Florida Small Business Health Insurance Plans

The ACA doesn’t obligate small companies (with fewer than fifty employees) to offer employee sponsored health insurance to their workforce. However, many want to, and it’s certainly a competitive advantage in hiring. Almost thirty percent of small companies pay the entire premium for single coverage in a health plan for their employees, with ten percent also paying the price for family members. The most significant percentage of workers (forty-five percent) are enrolled in PPO health insurance plans with a high deductible. Those in HMO plans also comprise a sizable portion.

Small companies may benefit from investigating plans available through SHOP (the Small Business Health Options Program), which offers opportunities for smaller companies to provide affordable coverage to their workforce. Taylor Benefits Insurance can help you navigate the offerings available there. Small companies can decide to stick with just one health plan for all workers or potentially offer a choice. You can also pay some or none of the premiums, and you get to decide whether to cover dependents.

Florida Employee Benefit Plans and Employee Benefit Packages

Putting together a benefits plan for your employees depends on your workforce demographics and, in part, on your budget. Health insurance and paid time off are a good foundation for your benefits plan. These are typically at the top of the wish list for workers. Florida doesn’t require paid time off, but most employers include some to motivate and reward their teams.

Next on the list, you may want to offer a retirement savings plan. While these aren’t as common among small companies, workers value the opportunity to benefit from employer assistance with their retirement savings. For almost any company size, there are reasonable options for establishing a 401(k) or IRA that your employees can contribute to.

What is Covered Under Florida Large Group Health Insurance?

A group health insurance provides minimum essential coverage and health care services at low premiums to a group of people. It will also provide different benefits over individual health insurance, like faster claims, lower monthly premiums, and extended health coverage options to family members. Small business owners offer health insurance to cover the essential health benefits of their eligible employees.

Here we are going to take a look at the features of group health insurance coverage and why it is important.

No Co-Pay

When you have a group health insurance plan, you don’t have to pay a percentage of the hospitalization and medical expenses out of pocket. The health insurance company will cover the entire hospitalization cost, prescription drug coverage, and other medical services.

No Waiting Period

Group Health Plans don’t come with a waiting period. This means that group coverage offered in the group health plans will be available for the employees to claim from the very first day. In fact, you can avail the expenses immediately for critical operations, diabetes, knee replacement, and other diseases. Similarly, if you are planning to start a family, the group small business health insurance will give you immediate access to maternity benefits.  

Pre-Illness Covered

Group health plans offered by small employers doesn’t require any pre-medical checkup for the employees. This is because all medical expenses for pre-existing dieases are also covered. Thus, if you have aging parents, they will get the financial assistance for all medical expenses and medicaid services.

Cashless Treatment

As per Affordable Care Act, health insurance companies needs to have major network hospitals in their plan. With these tie-ups, employees can enjoy cashless benefits as their medical bills and health costs are being taken care of by the insurer. It will help you avoid tedious and lengthy paperwork. You just have to present the identity card when you are availing the benefits of the small business health insurance.

Higher Room Limits

When someone is ill, the best thing is to get them a hospital room that they feel comfortable in. Usually, in health insurance plans, there is a limit on the room rent. It might be 1% of the total sum insured. However, the insurance company can offer some relief by increasing the limit for employee coverage.

Benefits of Group Health Insurance Plans for Employers

One of the best things about Group Health Insurance Plans is that they will benefit the employee, as well as the employer. No matter the size of your business, you can take advantage of a group health insurance plan.

Happier Workplace

In the present-day scenario, maintaining the well-being and health of employees is becoming the next big thing. Small business health insurance can offer healthcare benefits for the employees. Protecting the employees with health plans is a useful benefit that many look for in their jobs.

Saves Taxes

When employers offer group health plans to the employees, they can enjoy tax benefits under different sections of the tax department. They will be exempted from paying some taxes when employers get a group health plan for their employees.

Small business owners having less than 10 employees and the company pay average annual wages of $25k or less are elgible for federal tax credit. Hence, it is a win-win situation for both the employers and the employees.

Attracting and Retaining Loyal Employees

The company culture and the annual salary are the two of the most important criteria that employees take into account when they consider their tenure at a company. However, things have started changing after the health care reform. Now employees also take employee benefits into account while making their decision.

If you provide the best health benefit plan to the employees, it tilts the decision of the employees in your favor. Thus, the job of the talent acquisition manager becomes much easier. Moreover, an affordable health insurance will give you an edge over your competitors.

Value for Money

All group health insurance plans are tailored as per the requirement of the employees. This means that the premium amount, as well as the risk, is shared between the employees. So, having a small business health insurance is much more affordable.

Boosts Goodwill

In present times, it is important for an organization to maintain a good reputation in the industry. Along with a good company growth rate and culture, group health care coverage ensures that you have a good reputation in the market.

Benefits of Group Health Insurance for Employees

Group health plans are affordable for employees and their family members. Employees are the greatest asset for a company. If you have group health care coverage, you can keep your employees happy and productive. Here are some of the benefits of offering a small business health insurance to your employees.


In comparison to individual health plans or family health plans, employee health insurance premiums are more affordable. Moreover, a small business health insurance goes easy on the pocket since the total amount is shared between the fellow employees. Thus, you get an affordable health plan easily.

Waiting Period On Pre-Existing Diseases

Treatment for pre-existing diseases, such as hypertension, diabetes, high blood pressure can’t be claimed from individual health insurance before the waiting period is over. But in the case of group health plan, the health coverage is offered from the very first day.

Hence, an employee won’t have to bear the expenses of getting treated for their pre-existing diseases if they are insured under small business health insurance.

Maternity Coverage Without Added Cost

Childbirth and maternity won’t be covered under the individual health insurance benefits as an add-on. This means that the policyholder will have to pay an added premium for getting the coverage. However, if the person has a group health plan, they will not have to pay any premium. In fact, a newborn baby is also going to be covered by the insurance company but 90 days after their birth.

Easy Claiming Process

One of the most crucial benefits of a group health plan is stress-free claims. When you get an individual health insurance plan, you have to go through a claiming process that is time-consuming. In that case, you will have to offer a few documents and upfront deposit. But that is not the case with group employer-sponsored benefits. They usually have to submit the hospital bills to their employer and the employer is going to pay for them.

Health Care Coverage for Family Members

Managing health care coverage within families from different health insurance companies might be a hassle. But if you have group health insurance, you can include your family within one plan.

The amount of claim and health coverage is going to vary from one plan to the other. However, it will cover all benefits and wellness programs under the Department of Health and Human Services. Hence, it offers financial support to the employees, as well as their family members.

A Good Motivation Tool

The right group health plan will serve as an excellent motivational tool for employees. Employee coverage makes them feel being valued. This, in turn, will lead to higher productivity and increase employee engagement for small businesses.

No Pre-Medical Tests

Just as the waiting period, individual health insurance plans also require you to get your pre-medical tests. This helps to determine a pre-existing illness and the overall health of the person.

But, in a small business health insurance plan, you don’t have to worry about any pre-medical tests. Anyone who is a part of the group health plan will enjoy the same benefits of the policy. This means that the small business health insurance benefits will be same for everyone.

Mistakes to Avoid while Purchasing Small Business Health Insurance

As an employer, it is important that you assess the needs of your employees when you purchase health insurance for them. Make sure that you are avoiding the below common mistakes.

Choosing Low Health Insurance Coverage

Insuring your employees with small business health insurance is a wise decision. However, the health benefits will not make any difference if the group coverage limit is not enough. No matter whether your employees have individual health insurance or group health insurance, the cost of the treatment can be high, particularly if the illness is a life-threatening one, such as cancer or cardiovascular failure.

So, don’t be an employer offering group health insurance that has insufficient coverage. It will not help your employees and they will have to dig deeper into their savings to cover the hospital cost. This can add to their problems. Hence, when you are getting employer sponsored insurance, you need to make sure that it has adequate health benefits coverage. Any group health insurance should have minimum essential coverage as per the Affordable Care Act.

Buy a Health Plan for Low Premium

Group health insurance plans generally offer a low-rate premium. But the health plan rate might vary as per the amount assured you have chosen. Rather than selecting a group employer-sponsored insurance plan based completely on a low premium rate, you must know the various factors, which decide the premium amount, prior to buying the policy.

Take into condieration factors like total people covered in the health plan, the benefits chosen, the average age, health care reform benefits, and the sum assured for every member covered. Overall, it is better that you provide health insurance plan that is good for the employees you are covering. It is important to understand the factors that determine the employee health benefits before getting one.

Choosing Low Room Rent Capping

When you provide health insurance plans, check the room rent limits. Health insurance benefits with low room rent will not give adequate financial security to your employees. Therefore, small employers should personalize the HMO plans room limit according to the budget for small business health insurance.

Not Researching Enough Before Getting the Policy

Buying a group health insurance is not an easy task for small employers. Hence, the HMO plans might be confusing when you purchase health insurance. So, you might have to perform proper research prior to getting the group health benefit plans.

Any wrong decision while buying PPO plan (Preferred Provider Organization) might lead to issues for the employees, during the settlement claim. You can avoid the scenario by checking the details of group health benefit plan and how it works. With adequate knowledge about the health benefit, you can personalize the policy to fit into the requirement of the business and your employees. It should ideally cover add-ons like dental insurance and prescription drugs coverage.

When you get your group health insurance plan from small group markets, you can easily personalize the aspects of the plan to ascertain a transparent and smooth claim settlement.

Not Looking for the Added Features

Other than not getting an all-inclusive policy, eligible small businesses don’t look at the add-ons of the group health insurance policy. Often, it is because they have to be added separately in the small group market plan. Also, it might require you to pay more money in the individual market.

But standard small group health plans won’t cover some situations, choosing these covers might make a big difference in healthcare. So, you should check the add-on covers provided with the health insurance policy and select the ones that can be helpful for your Florida department employees. Choose critical illness cover and maternity cover for those having less household income.

Not Reading the Policy Document

Often, employers tend to make the mistake of buying health insurance from small group market carriers without reading the terms and conditions. All policies come with exclusions and inclusions.

It is important to know the benefits that are included but it is equally important to know the exclusions while buying insurance from large group market carriers.

When you provide health insurance, it is your responsibility to check what is being covered by the plan before purchasing it. With the help of these details, small businesses can make an informed decision regarding the insurance costs.

Insurance and Benefit Options That Will Enhance Your Group Plan

  • Employee dental and vision insurance
  • Group medical and employee health insurance
  • Prescription coverage benefits
  • Group retirement and pension plans
  • Group 401(k) savings accounts
  • Section 125 (cafeteria plans)
  • Group short and long term disability insurance
  • Managed care & indemnity plans
  • Medicare
  • Workers’ compensation insurance
  • Group life insurance
  • Long term care
  • Flex spending accounts (FSA)
  • Health savings accounts (HSA)

Explanation of Basic Healthcare Plans

  1. PPO- This health plan gives your employees more flexibility and the right to choose their healthcare providers. Choosing providers within the network will cut the costs of healthcare.
  2. HMO- Employees will need to receive their medical care through a strict network of providers and facilities linked to the health maintenance organization.
  3. FSA- A flex spending account that keeps the employees earned income tax-free for use towards unpaid healthcare expenses uncovered by the insurance carrier.
  4. HSA- A savings account for employees to keep tax-free money. Services not cared for by the insurance company can be covered with the money in this account.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Florida

In the United States, comprehensive insurance plans cover medical expenses for hospitalized customers who need financial assistance from providers. Florida residents must have health insurance under the Affordable Care Act (ACA). Up to 1.6 million Floridians are enrolled in ACA-compliant plans through the federal exchange, making Florida the leading state in enrolling in ACA-compliant plans. The most frequently asked questions about health insurance are:

What Are the Benefits of Large Group Health Insurance plans in Florida?

The biggest benefit of large group health insurance plans is that the premiums are less than you would generally have to pay. This can be attributed to the fact that insurers will be able to provide discounts that are offered in bulk. Group health insurance plans are easy to administer and cover every employee in the company. The advantage of this policy is that employees can enroll quickly and easily, as all employees covered by the plan receive the same benefits package. You will not be denied subsidized coverage because of a specific medical condition your employee may have.

In Florida, How Much Do Small Business Groups Insurance Plans Cost on Average?

Employees of any company, no matter how small, can join group medical insurance plans as long as their company has a minimum employee count. A group health insurance plan would be very affordable for the employees to invest in. Employees can pay as little as $270 monthly, the amount of 3240 dollars per year.

What Benefits do Employers Offer in Florida?

In Florida, an employee benefits package should include:

  • Corporate Health Insurance & Employee Benefits
  • Large Groups
  • Standard Health Insurance
  • Dental Insurance
  • Vision Insurance
  • 401k
  • Retirement & Pension
  • Section 125 Cafeteria
  • HSA Short and Long Term Disability Insurance
  • Life Insurance
  • Long Term Care
  • Affordable Care Act (ACA)

Adding these benefits inclusions to your company’s benefits package will ensure that your employees are well protected and cared for while they are employed. Nevertheless, if you choose, you can tailor the insurance package for your employees in order to meet their needs.

How Much Does It Cost to Offer Employees Health Insurance?

In Florida, the average cost of health insurance for an individual aged 40 in 2022 is $559. There is, however, a great deal of variation in this average cost depending on your age and the metal tier of your insurance plan. The cost of health insurance for a 21-year-old, for example, is 28 percent lower than that of a 40-year-old.

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