- Providing world class service and value for employee benefit group plans since 1987
Taylor Benefits appreciates the Iowa community that we work with, and we strive to be the best team health benefits provider in the state. Group health insurance is the most-requested option to cover team members and their families. We work with the employer to ensure they can offer this valuable benefit to their employees while achieving their target profit margin.
As a company, you may be trying to keep costs down while also helping your staff members obtain quality healthcare services. Our team can help your company create a health plan that will meet the needs of your employees while you, as the small business owner or manager, are able to keep your bottom line stable.
We devise tailor-made health and retirement health plans for small businesses and employee plans that include the following:
Our group health coverage agents can work with numerous companies to be able to offer the best health coverage plans for your business. We go the 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 the online request form on this page.
Large employers are obligated by the Affordable Care Act to offer healthcare protection to their workers. The ACA has specific requirements for coverage, including affordability. To meet the definition of “affordable,” the employer’s health plan must cost the worker less than 9.12 percent of the employee’s household income. However, the rule only applies to employee health programs without considering what it costs for dependents to be included.
So, if a staff member earns $50,000, the affordability threshold is approximately $4,560 for that individual to participate in the employee large group medical insurance plan.
Also, health protection coverage must be designed to pay at least 60 percent of the total cost of medical services for “standard” full-time employees. Finally, the healthcare protection plan must cover these ten essential benefit areas:
Ambulatory patient services (outpatient care)
Emergency services
Hospitalization, including surgical and medical
Maternity and newborn care, including delivery
Mental health and substance use disorder services
Prescription drugs
Rehabilitative services and devices
Laboratory services
Preventative and wellness services, including chronic disease management
Pediatric services, including dental and vision care for children under the age of 19
Small businesses may struggle with the cost of providing small business medical assurance 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. However, the percentage of the premium paid for family dependents is often less. In addition, company size and the number of full-time employees significantly impact whether crew members are eligible for healthcare protection 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 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.
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):
Employers often find that offering a variety of benefits works well. For example, some team members 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.
Beginning on January 1, 2014, the Affordable Care Act (ACA) required that states establish healthcare exchanges to offer individuals and employees the necessary access to affordable protection coverage.
Taylor Benefits makes it easy to sign up for health coverage in Iowa. We have offered affordable collective plans for many years prior to the implementation of the ACA, and we have been able to continue. One way we can help is by making sure our own clients have been able to acclimate to the new ACA regulations since the program started.
We can help you understand the healthcare options that you have under the ACA, and best of all; we can offer help with determining the best health insurance for you and your eligible employees.
Let us help you as you investigate the selection of a group health plan for your business and save money. You can always fill out the quick, no-obligation form on this page or give us a call to speak to an insurance team member for further information.
What is the best health insurance in Iowa?
Taylor Benefits Insurance Agency Inc. is the best health insurance in Iowa.
How much is health insurance in Iowa per month?
The cost of health insurance in Iowa can vary depending on various factors such as age, health status, coverage level, and insurance provider. On average, individual health insurance plans in Iowa can range from around $200 to $600 per month. Family plans can cost anywhere from $500 to $1500 per month. It is recommended to shop around and compare quotes from different insurance providers to find the best plan that fits your needs and budget.
Is there free health insurance in Iowa?
Yes, Iowa offers free health insurance through Medicaid for eligible low-income residents, including children, pregnant women, elderly adults, and individuals with disabilities. Eligibility depends on income, household size, and other factors.
What is the largest healthcare provider in Iowa?
The largest healthcare provider in Iowa is Taylor Benefits Insurance, UnityPoint Health, which operates a network of hospitals, clinics, and home care services across the state. It is one of the state’s leading healthcare systems, offering a wide range of medical services to residents throughout Iowa.
What is the income limit for Iowa Medicaid?
The income limit for Iowa Medicaid varies by category, but for most adults under 65, it’s generally around 138% of the Federal Poverty Level (FPL). For a single adult in 2024, this equates to an annual income of approximately $18,754. Limits are higher for families, pregnant women, and children.
What type of insurance is group health insurance?
Group health insurance is a type of health coverage provided by an employer or organization to its employees or members. It typically offers medical, dental, and vision benefits, with the cost of premiums often shared between the employer and the employees, making it more affordable than individual health insurance plans.
Is group health insurance worth it?
Yes, group health insurance is often worth it. It typically offers lower premiums compared to individual plans, provides comprehensive coverage, and may include benefits for dependents. Employers often share the cost, making it more affordable. Additionally, it usually comes with simplified enrollment processes and broader coverage options.
What are the most common group health insurance plans?
The most common group health insurance plans include Health Maintenance Organization (HMO) plans, Preferred Provider Organization (PPO) plans, Exclusive Provider Organization (EPO) plans, and Point of Service (POS) plans. Each type offers varying levels of coverage, flexibility in choosing healthcare providers, and out-of-pocket costs.
What is the main advantage of group insurance?
The main advantage of group insurance is its cost-effectiveness, offering lower premiums and better coverage compared to individual insurance plans. This is due to the risk being spread across a larger group of people, making it more affordable and accessible for participants.
Which is better, group insurance or individual insurance?
Choosing between group insurance and individual insurance depends on personal circumstances. Group insurance often offers lower premiums and broader coverage due to employer contributions and risk spread across many individuals. Individual insurance provides more flexibility in plan choice but may be more expensive without employer subsidies.
Who splits the premiums in a group health insurance plan?
In a group health insurance plan, the premiums are typically split between the employer and the employees. The employer often pays a significant portion of the premium, while employees contribute a smaller share, usually deducted from their paychecks. The exact split can vary depending on the employer’s policies and the plan’s structure.
Why is group health insurance cheaper than individual health insurance?
Group health insurance is cheaper than individual health insurance because the risk is spread across a larger pool of insured individuals. This allows insurers to offer lower premiums. Additionally, employers often contribute to the cost, further reducing the amount employees pay. Bulk purchasing and negotiated rates also contribute to lower costs.
Health insurance is an assurance policy covering the insured person’s medical costs. Health assurance often pays for preventative care, treatment of acute conditions, and managing chronic diseases to varying degrees, depending on the policy. In the United States, people with low incomes and the elderly are covered by Medicare and Medicaid. Many companies provide workplace-based health protection as a common component of employment benefits packages.
As a large employer, you are obligated to provide affordable healthcare coverage to most of your workforce. You can choose the coverage structure as long as the plan meets at least the “Bronze” level requirements for health programs as designated by the ACA. Employers can share the cost with eligible crew members. However, the subscriber’s share of the premium isn’t allowed to exceed 9.12 percent of their gross income.
There are numerous small business health coverage providers in Iowa, including:
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 considerations all influence the benefits you choose. 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 eligible workers. The following are the top perks of having health coverage:
Workplace benefits account for 31 percent of total compensation costs, according to a Bureau of Labor Statistics analysis. Some companies may dedicate more to benefits to maintain a competitive edge, while others focus on less expensive perks.
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