Fontana Group Health Insurance and Employee Benefits Specialist

Keeping the cost of healthcare down is important as a multiemployer, especially when you’re running a major company with hundreds, possibly thousands of employees. It is crucial to provide everyone with the best, most affordable healthcare options and benefit programs. 401(k), health insurance, vision, dental, and workman’s compensation are just a few of the programs we can provide as the leading independent insurance broker for Fontana.

At Taylor Benefits, we’re able to provide affordable healthcare by accessing our resources. We work with some of the greatest insurance agencies around. Our providers know the importance of providing the right care at the right price. We want your investment to benefit you, your employees, and their families. We even provide personal consulting services to go over what we’ve gathered from our resources as well as the minimal requirements under the Affordable Healthcare Act to make sure you remain in compliance with the government standards.

Fontana CA Large Group Health Insurance Programs

The ACA (Affordable Care Act) mandated that big companies provide health insurance for their workers. The law has several requirements for coverage, including an affordability standard. To satisfy that requirement, the employee cost for the premium must be less than 9.61 percent of their household income. So, if an employee earns $50,000, the affordability threshold is approximately $4,805 for that individual to participate in the workforce plan. However, any coverage available for dependents doesn’t have to meet that standard.

Also, the plan has to pay at least 60 percent of the total cost of typical anticipated medical services for a “standard” subscriber. Finally, every health insurance option 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
11. Fontana large group health insurance

Fontana CA Small Business Health Insurance Plans

Small companies may have a tough time providing affordable insurance to their workers without exceeding their budget. Expenses for insurance keep rising faster than inflation, and it’s challenging for businesses to absorb those rate hikes. One option is a High Deductible Health Plan (HDHP) which can be very effective when paired with a Health Savings Account. For the plan to be eligible for an HSA, the deductible must meet IRS standards. In 2022 that requires a minimum of $1,400 for an individual or $2,800 for a family. However, often the deductible is substantially higher, matching the out-of-pocket maximum. That could be as much as $7,050 for an individual subscriber or $14,100 for the family.

Health Savings Accounts help with expenses because the subscriber can use pre-tax income to pay for medical costs. In many cases, the company also adds funds to the HSA. For example, suppose the worker has money in the account they don’t use in that calendar year. In that case, they can accrue it indefinitely (even into retirement.)

Employee Benefit Plans and Staff Rewards Packages

Health insurance and time off from work with pay are the most frequently requested and most common employee benefits. While small companies may not always provide health insurance coverage, they usually give paid time off to full-time workers. In California, all workers are eligible for paid sick days and family leave. The most common PTO after illness is for holidays and vacations. Big companies may add bereavement leave and paid time for jury duty.

Many companies offer disability insurance to their workforce. They must maintain workers’ compensation policies, but other injuries and illnesses that keep someone from working depend on the disability coverage. Some pay for short-term coverage and allow the employee to add long-term coverage at their cost. Long-term disability is one of the so-called “voluntary” benefits that employees may buy with a group discount through their employer but with no employer contribution. Other examples include life insurance, pet insurance, long-term care insurance, and legal plans.