Fort Lauderdale Group Health Insurance & Employee Benefit Plans

Ft. Lauderdale FL Large Group Health Insurance Plans

Among the notable provisions of the Affordable Care Act is requiring all large companies to offer health insurance to their employees. However, since most large employers already did so before the ACA passed, the impact on enrollment was minimal. Other components have made a more significant impact. For example, the affordability standard requires that large companies limit the subscriber’s share of premiums to no more than 9.6 percent of the employee’s gross income. Employers can offer more than one plan for workers to choose from, but at least one must satisfy the affordability standard.

The law also prohibited insurance plans from denying coverage for pre-existing conditions. Further, it allows people to remain covered by a parent’s policy until they are 26. Finally, every insurance plan must include ten essential benefits:

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

Ft. Lauderdale FL Small Business Health Insurance Plans

Small companies don’t have to offer health insurance to their employees. However, the ACA created some options to help those companies that want to. The ACA has tax credits for the smallest firms–with 25 or fewer workers. To qualify, the employer must subsidize half the premium cost for employees. Also, the employees must be at lower-than-average pay levels.

Small business owners can find information and help from a broker like Taylor Benefits Insurance or the SHOP website. SHOP is the Small Business Health Options Program the ACA created. Small business insurance plans are organized by tiers and identified by metal names to indicate the value. For example, bronze plans will have a lower monthly premium but higher costs for service. Silver, gold, and platinum will require a higher premium but should absorb more usage costs.

Ft. Lauderdale, FL Employee Benefit Plans and Employee Benefit Packages

One way that any business can attract and retain top talent is by offering a comprehensive benefits plan. The package may start with health insurance, and large companies must include it per ACA requirements. Besides health insurance, an employee’s wish list often includes paid time off for vacation and sickness.

Other benefits that may provide a competitive advantage include:

• A retirement plan
• Dental and vision insurance
• Flexible working schedules or remote work options
• Childcare subsidy or onsite care
• Tuition reimbursement
• Help with student loan payments

Group Health Insurance and Employee Benefits

Group health insurance and employee benefits are different plans that employers offer to their employees. They are offered at a lower cost, promote employer/employee relationship, enhance productivity and offer tax deduction to the employer.

Many employees will consider a good employee benefits plan before deciding to join a particular company. Group health insurance and employee benefits make a company attractive to prospective employees and you are able to maintain a hardworking and skilled workforce. Any business owner should offer their employees group insurance and employee benefits for the long-term benefit of their company.

Who We Are

Taylor Benefits insurance agency, is an insurance broker that specializes in group health insurance and employees benefit plans. We have been writing group health insurance and benefits plans for over 25 years. We offer a wide variety of choice and flexibility, with the option of renewing your policy annually.  

We offer group plans for both small and large companies. We work with different insurance carriers to find a plan that will fit your company’s needs and budget. We are well known for our high-quality services and affordable plans.