- Providing world class service and value for employee benefit group plans since 1987
The ACA (Affordable Care Act), popularly known amongst individuals as Obamacare, mandates that large companies provide health insurance for their workers. This law, a crucial company resource is applicable for businesses in diverse areas, including Durham and other locations nationwide, as well as in Raleigh. It revolves around the concept of coverage options tailored for businesses based on state policies. Further, it doesn’t solely apply to companies with fifty or more workers but also includes smaller groups as an option. The ACA marks a significant change in the health insurance landscape and has several provisions for affordability and quality. For example, to meet the affordability requirement, the premium a worker pays for individual Blue Cross NC coverage, provided by our dedicated staff at the insurance office, can’t exceed a certain amount, precisely 9.61 percent of their income. This content, which is easily accessible on our site, underlines the group benefits aspect of the healthcare sector. In addition, companies must also offer coverage to dependents but don’t have to meet that cost standard.
Also, insurers must design the plan, under the watchful eye of experienced doctors and an agent, to pay at least 60 percent of the total anticipated cost of medical services for a “standard” subscriber. Furthermore, every health insurance policy must cover a broad spectrum of service areas, including preventive measures and these ten essential benefit areas:
Small companies, faced with the challenge of providing their employees with the necessary products, may find it hard to provide affordable health insurance to their workers without exceeding their budget. These challenges could be especially problematic if there are changes in enrollment guidelines in the fetched Raleigh area. The ACA doesn’t require that they do so, but if they offer coverage, it must meet the ACA standards, which at times can be costly. One of the options for managing these costs can be a High Deductible Health Plan (HDHP) combined with a Health Savings Account. To qualify for using an HSA, the plan must incorporate a deductible that complies with IRS standards. Attractive for both employees and agents of the company, this type of plan requires a minimum deductible of $1,400 for an individual or $2,800 for a family in 2022. However, it can be much higher. The maximum allowed out-of-pocket expense is $7,050 for an individual subscriber or $14,100 for the family. These higher deductibles shift costs to the subscriber and thus lower the premium cost.
However, Health Savings Accounts help manage the subscriber’s overall expenses, reducing the amount they have to pay out-of-pocket, as they can use pre-tax income to pay their medical costs. In some cases, companies that value the health of their employees, as well as their employer-employee relationship, may contribute to the HSA as well. Also, the account funds can roll over. For example, suppose the worker has money in the account they don’t use in the calendar year they allotted it. In that case, they can roll it over indefinitely (even into retirement) without paying taxes on the contributions or the earnings.
Employee benefits are a significant part of the overall job offer for employees considering where to work, as they often form a prospective employer’s value proposition. Even though small companies don’t have to offer health insurance, it’s the most common benefit for companies that provide any benefits. Time off with pay is also highly desired by workers and helps attract candidates. Other perks that employees want include:For the best healthcare insurance, quit the exclusions associated with individual or family insurance plans from established insurance providers or the federal exchange. Instead, gain access to more information regarding custom-written group healthcare insurance plans provided by independent agencies, specifically tailored for your family’s needs. Agencies like Taylor Benefits Insurance offers these services, presenting a PPO structure that notably benefits their members. As an employer, exploring these ways may significantly improve your team’s morale and satisfaction.
Independent agencies are not in competition with insurance providers, and their plans are not affected by plans offered through the federal exchange. As a result, families of clients receive better benefits and member-centric coverage, with insightful information on better rates and premiums. With over 25 years of experience in insurance writing, Taylor Benefits Insurance can help you save money with a group healthcare insurance plan. We pride ourselves in our successful operation, and this makes us as a member of the health insurance sector to consider seriously.
The following essential healthcare benefits are included in our group healthcare insurance plans for our families. Our clients seek us out for comprehensive coverage at an affordable rate. Information regarding all our plans is custom-written to better serve them. We also offer Medicare Advantage options for those eligible, ensuring that our range of choices serves a broad demographic.
The following essential healthcare benefits are included in our group healthcare insurance plans for our clients. Our clients seek us out for comprehensive coverage at an affordable rate. All our plans are custom-written to better serve them.
Group healthcare insurance plans provide enrollees with more affordable rates and premiums. With a group plan, you can gain access to the same healthcare coverage or better. As a member, you pool your money with a group and use the group’s enhanced purchasing power and leverage to obtain better healthcare benefits and simplified access to coverage.
The process is straightforward and simple. All it entails is to sign up for group healthcare and let the independent agency do the rest. Independent agencies like Taylor Benefits Insurance write custom plans for family-oriented members, thereby offering the healthcare insurance you need at a more satisfactory rate, even with a co-pay involved. By pooling together resources and spreading the risk amongst a larger group, Greensboro group health insurance allows for more comprehensive coverage and potential cost savings for its members. Additionally, the collective bargaining power of the group can lead to better negotiating power with insurance providers, resulting in potentially lower premiums and more comprehensive coverage for participants. This can greatly benefit individuals and businesses in Greensboro by providing affordable and accessible healthcare options for all members of the community.
At Taylor Benefits Insurance, we custom-write our plans to ensure that each family-oriented group client receives the healthcare it needs. Other plan providers do not custom-write their plans. With a custom plan, you can rest assured that you will receive the healthcare coverage your group needs, at a more favorable cost, compared to individual or family plans from insurance providers or the federal exchange. Greensboro group health insurance offers a wide range of benefits and coverage options, including access to a network of healthcare providers, preventive care services, and prescription drug coverage.
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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