- Providing world class service and value for employee benefit group plans since 1987
For businesses in Illinois, providing comprehensive health coverage and employee benefits is crucial for attracting and retaining top talent. Group health insurance ensures that employees have access to essential medical services while also helping employers meet legal and ethical obligations. As an employer, it’s in your best interest to seek the assistance of an experienced insurance broker.
At Taylor Benefits Insurance, we specialize in offering customized group health insurance in Illinois, ensuring businesses of all sizes get the best coverage at competitive rates. We have been providing Illinois businesses with low-cost group healthcare insurance plans and benefit packages for almost 30 years. Whether you’re a small business looking for small group plans or a large company requiring extensive coverage under large group plans, we provide solutions tailored to your needs.
Our wide network of insurance carriers makes it possible for us to tailor plans to suit the needs of our clients and their team members. It also gives us experience in negotiating, which we have excelled in for decades. We will do whatever it takes to help you attract and retain qualified employees by providing them with a secure future.
We will also provide yearly audits to make sure your plan always meets the requirements of the Affordable Care Act and all local, state, and federal laws.
Group health insurance provides medical coverage to employees and their dependents under a single plan. These plans are often more affordable than individual insurance policies due to shared risk, making them a cost-effective solution for both employers and employees.
In Illinois, group health insurance options range from traditional employer-sponsored plans to specialized plans that offer varying levels of coverage. Businesses can choose from Health Maintenance Organizations (HMOs), Preferred Provider Organizations (PPOs), and High Deductible Health Plans (HDHPs) with Health Savings Accounts (HSAs).
Providing Illinois group health plans is more than just a compliance requirement; it is a strategic move that benefits businesses in numerous ways:
Talent Attraction & Retention: Employees prioritize health benefits when choosing an employer. A well-structured plan enhances job satisfaction and loyalty.
Tax Benefits: Employers offering group plans in IL can benefit from tax incentives, reducing their overall tax liability.
Increased Productivity: Healthy employees are more productive and take fewer sick days, leading to an overall boost in workplace efficiency.
Compliance with ACA Regulations: Under the Affordable Care Act (ACA), businesses with 50 or more full-time employees must provide affordable health coverage that meets minimum essential coverage standards
Employers have the flexibility to choose from a variety of group plans in Illinois, depending on their workforce size and budget constraints:
Like other sizable employers in Illinois, even if you already have health care coverage for your workers, you probably review it periodically to ensure that it’s practical and cost-effective. When you check your coverage, you may want to talk to a consultant at Taylor Benefits Insurance about your large group healthcare options.
Depending on your budget, the number of workers, and the needs of your workforce, you may be able to change your plan to save money and simultaneously improve coverage access to your employees. For example, trends in Illinois healthcare insurance coverage may lead you to consider an HMO or POS (point of service) package that is more in line with what eligible employees expect.
For businesses with over 50 employees, large group plans offer more extensive coverage options. These plans provide employers with greater negotiating power, leading to lower premium costs per employee. Large group plans may include:
Comprehensive medical and prescription drug coverage
Telehealth services
Employee wellness programs
Customizable add-ons such as mental health support and chiropractic care
Designed for businesses with 2 to 50 employees, small group plans provide affordable coverage options, often with lower premiums compared to individual policies.
The cost of health care coverage can be a burden on small businesses. Yet over half of the small companies provide healthcare insurance coverage to at least their employees, with some offering it to dependents as well. Small companies have benefitted from legislative improvements related to the ACA and SECURE Act, which support companies establishing coverage. Some companies may provide just one coverage option. In contrast, other small employers may allow eligible staff members to choose between several, like a PPO and HMO or a Point of Service plan.
There are tax credit premiums available for small businesses (fewer than 25 full-time or full-time workers with average wages of less than $53,000), which offer health insurance coverage options through the Small Business Health Options Program and subsidizes at least half the full amount (for the employee—no subsidy is necessary for dependents).
These plans may include:
Dental and vision coverage
Wellness programs
Disability and life insurance
In addition to health insurance, providing additional Illinois employee benefits can further enhance job satisfaction and overall workforce well-being. Some key benefits include:
Retirement Plans: 401(k) plans with employer matching
Paid Leave: Vacation, sick leave, and parental leave options
Flexible Spending Accounts (FSAs) & Health Savings Accounts (HSAs)
Workplace Wellness Programs: Gym memberships, mental health counseling, and nutrition support
By offering competitive employee benefits, businesses can build a stronger company culture and ensure long-term workforce retention.
Selecting the right group health insurance provider is essential to ensure you receive comprehensive coverage at the best possible rates. Taylor Benefits Insurance simplifies the process by:
Offering customized plan comparisons to help you choose the best Illinois group health plans.
Negotiating with top insurance carriers to secure affordable premiums.
Ensuring compliance with state and federal health insurance regulations.
Providing ongoing support, including policy renewal and adjustments.
As a trusted provider of group health insurance in Illinois, Taylor Benefits Insurance is dedicated to helping businesses navigate the complex world of employee benefits. Whether you need small group plans for a startup or large group plans for a corporation, we ensure that you receive tailored solutions that align with your company’s needs.
To learn more about how Taylor Benefits Insurance can help you find the best group plans in IL, contact us today at 800-903-6066 for a free consultation. We’ll help you build a benefits package that keeps your employees happy, healthy, and committed to your company’s success.
Companies and organizations acquire large group health insurance plans for their members or eligible staff members. Unaffiliated individuals don’t have access to these programs because they are only available to teams. In many cases, for the coverage to be activated, the employer or group offering the coverage must enroll 70% of the potential participants.
Group members can accept or reject coverage once an organization has decided on a plan. In addition, programs may be offered in tiers, with insured parties allowed to choose between basic coverage and more comprehensive coverage that includes optional services or lower coinsurance.
The cost of a small business health insurance policy in Illinois varies widely, depending on factors that include the coverage selected and the company size. Your small business may find policies as low as $600 per worker per month. It’s up to the employer to decide how much the eligible employee and any covered dependents must contribute to the expense. You may also want to check employee eligibility for tax credit breaks.
All non-wage remuneration supplied by an employer is included in the benefits package. These benefits may consist of employer-sponsored health insurance, paid time off, and 401(k)-style retirement programs.
A prospective employer may also be willing to give other appealing benefits to recruit and retain your services. These perks may include extras such as paid gym memberships, phone and internet subscriptions, free meals, and on-site childcare.
If an employer obtains a group health insurance plan for their eligible employees, they pay some of the costs connected with that employee’s coverage. As a result, you’ll be paying much less each month in employee premiums because your company might be absorbing a significant portion of the bill.
Employers are obligated by the Affordable Care Act to provide a policy that covers at least 60% of expenditures under the so-called “essential coverage” criteria. Also, subscribers’ required contributions are limited to 9.12 percent of their income.
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.
We’re ready to help! Call today: 800-903-6066