Iowa Group Health Insurance & Employee Benefit Plans

Taylor Benefits appreciates the Iowa community that we work with and we strive to be the best group benefit and employee health plan provider in the state. Group health insurance is the plan wanted by employees and their families and we work with the employer to ensure they can offer this valuable benefit to their employees while keeping their profit where it needs to be.

As a company, you may be trying to keep costs down while also helping your employees have quality healthcare services. Our team can help you create a plan that will meet the needs of your employees while you, as the business owner or manager, are able to keep your bottom line stable.

We devise tailor-made health plans as well as retirement plans for businesses as well as employee groups that include the following:

  • Group health insurance plans
  • Medical, dental and vision insurance
  • Employee benefits & wellness plans
  • Disability insurance (short and long term)
  • Group retirement and 401(k) savings plans
  • Pension plans
  • Health savings plans (HSA)
  • Group life insuranceand long term care
  • Section 125 cafeteria plans
  • ACA (Affordable Care Act)

Our group health plan agents can work with numerous companies to be able to offer the best plans for your business health plan. We go that extra mile to ensure you receive the quality health benefits that you and your employees need.

Are you ready to get started with a group health plan for your business? We serve the entire state of Iowa and offer FREE estimates with our online request form on this page.

Iowa Large Group Health Insurance Plans

Large employers are obligated by the Affordable Care Act to offer health insurance to their workers. The ACA has specific requirements for coverage, including affordability. To meet the definition of “affordable,” the employer’s plan must cost the worker less than 9.61 percent of the employee’s household income. However, the rule only applies to employee coverage without considering what it costs for dependents to be included. So, if an employee earns $50,000, the affordability threshold is approximately $4,805 for that individual to participate in the employee large group health insurance plan.

Also, the coverage must be designed to pay at least 60 percent of the total cost of medical services for a “standard” workforce population. Finally, the plan 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

Iowa Small Business Health Insurance Plans

Small companies may struggle with the cost of providing small business health insurance to their workers, but many are still generous about sharing the expense. According to the Kaiser Family Foundation 2021 survey, thirty percent of small companies pay the entire premium for individual coverage for their workers (if they offer insurance), and only three percent pay less than half the cost. The percentage of the premium paid for family dependents is often less. In addition, company size significantly impacts whether employees are eligible for health insurance coverage, with half of the smallest companies (up to nine workers) skipping the benefit.

For small companies, one great option is to obtain insurance plans through SHOP, which you can investigate with the help of your Taylor Benefits Insurance consultant. SHOP is the acronym for Small Business Health Options Program, which helps smaller companies evaluate programs and determine if they qualify for tax credits.

Iowa Employee Benefit Plans and Employee Benefit Packages

Studies demonstrate that employees evaluate benefits packages when considering their job options and that workers reporting satisfaction with their benefits are more likely to stay at their current job. That’s a good reason for companies to offer the best package possible. When asked, workers typically list the following benefits at the top of their wish lists (the order may change):

  • Health Insurance
  • Paid time off (vacation, holiday, and sick leave)
  • Family leave
  • Retirement support
  • Dental and vision insurance
  • Flexible working schedules
  • Childcare support
  • Tuition assistance

Employers often find that offering a variety of benefits works well. For example, some employees won’t need childcare help but may value retirement savings contributions. For others, flexible leave policies may be more attractive than dental insurance. A good program has enough choices to appeal to most workers.

Iowa Group Health Insurance & The Affordable Care Act

Beginning on January 1, 2014, the Affordable Care Act (ACA) required that healthcare exchanges be established to offer individuals and employees the necessary access to insurance coverage that was affordable.

Taylor Benefits makes it easy to sign up for health coverage in Iowa and since we’ve offered affordable group benefits for many years prior to the implementation of the ACA, we have been able to continue playing a vital part with making sure our own clients have been able to have information readily accessible to be able to acclimate to the new ACA regulations since the program started.

We can help you understand the health care coverage options that you have under the ACA and best of all, we can offer help with determining the best plan for you and your employees.

Let us help you as you find yourself heading down a path to start a group health plan for your business. You can always fill out the quick, no obligation form on this page or give s a call to speak to an insurance team member for further information.

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

A comprehensive insurance plan covering the insured person’s medical costs is health insurance. Health insurance often pays for preventative care, treatment of acute conditions, and managing chronic diseases to varying degrees, depending on the policy. In the United States, persons with low incomes and the elderly are covered by Medicare and Medicaid. The provision of health insurance by employers is a common component of employee benefits packages.

In Iowa, How Much Do Large Group Health Insurance Plans Cost on Average?

It is to your best advantage to provide health insurance to your employees, as most states require it.

Individual health insurance premiums for a company’s workers range from about $1,500 to over $4,000 per person. As long as you agree to pay a part of the monthly premium, you can split these expenses with your employee.

What are Small Business Group Health Insurance Providers in Iowa?

There are diverse small business group insurance providers in Iowa, such as

  • AKP Health Insurance
  • Humana MarketPoint
  • Premier Health Insurance of Iowa
  • Reynolds & Reynolds Inc
  • eHealthInsurance
  • Knapp Tedesco Insurance
  • TaylorBenefits Insurance Agency. INC.

What Are the Different Types of Benefits Offered in Iowa?

There is a lot of confusion among firms about which benefits to offer their employees. The amount of money you have to spend, the number of people working for you, and other comparable considerations may come into play. Attracting and retaining top talent, improving employee health and happiness, and reaping some tax benefits are all possible outcomes of providing a comprehensive benefits package to your employees. The following are the top perks of having health insurance as an employee:

  • A pre-existing medical problem.
  • Employer-sponsored health insurance plans (funded).
  • Enrollment in Medicare and Medicaid.
  • Employee dental programs and coverage.
  • Coinsurance
  • Accounts for Medical Care (HSAs).
  • Employees have access to eyesight coverage and services.
  • Longtime access to drug coverage.
  • Co-pay.
  • Plan for total health care.
  • Well-being initiatives are available.
  • Availability of RMTs, physiotherapists, and other professionals.
  • Access to medical tools.

How Much Do Employee Benefits Cost on Average?

Employee benefits account for 31 percent of total compensation costs, according to a Bureau of Labor Statistics analysis. Compensatory and mandated benefits accounted for 8.3% and 7.1 percent, respectively, of total compensation costs.

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