- Providing world class service and value for employee benefit group plans since 1987
Kentucky business owners, the active members of our economy, should not have to stress over group medical insurance, individual policy, Medicare enrollment, or other employee incentive plan components. Counties across the state are filled with citizens, many of whom are valuable members of the workforce, facing these concerns. Luckily, Taylor Benefits, drawing on its vast experience and well-established network of reliable agents, is here to guide our clients through the complex process of finding the best plans including appropriate healthcare coverage options. We offer informative resources on our site and even on platforms like YouTube to instill confidence as they navigate their options. Our aim is to ensure that they can keep their costs low and that their workers have the health coverage they need. Like an anthem of assurance, this business model has also brought success to us in states like Nevada and Colorado, where law and requirements may differ slightly.
We know that it can be daunting for the working members of our population to figure out which group health insurance will work best for your team members, thus adding value to your company. Our aim is to ensure they get access to high-quality healthcare they need while you stay within your budget. We also provide positive solutions for retirement and 401(k) savings plans and other resources to assist your workforce as they build financial security. Drawing from our extensive experience across a plethora of counties in states, not limited to Nevada and Colorado, our knowledgeable agents strive to present the most fitting options tailored to your business needs on our site.
When you are ready to get a FREE estimate for a great healthcare insurance solution for your business, or you would like to discuss your options for retirement and savings benefits for employees, be sure to fill out the quick quote form on this page or give us a call for personalized assistance.
Taylor Benefits staff, members of a dedicated team, offers the following plans to covered employees:
Kentucky’s large employers have ample options when choosing health care coverage for their team members. With numerous large companies in the state, many workers are accustomed to receiving comprehensive benefits through their employers as a regular ingredient of their employment. In addition, more residents receive coverage through the state-run healthcare protection marketplace, Kynect, which has four carriers available, all detailed on our site.
As with other states, large plans in Kentucky, as well as states like Nevada and Colorado, must include the minimum essential benefit components stipulated by the Affordable Care Act to be compliant. These laws are broken down and easily understood in our various YouTube videos and on our site.
ACA-compliant programs belong to one of four tiers named for metals: bronze, silver, gold, and platinum. Each has a different premium, with bronze plans offering lower premium costs. However, each tier has different out-of-pocket expenses. For example, subscribers choosing a bronze plan with a lower premium will pay a higher co-payment when using medical services. Conversely, the premium will be higher if you have a silver plan, but the access costs for using the coverage will be lower.
Small companies can explore options for offering group medical protection for their workers by visiting the SHOP website or chatting with their representative, a valued member from Taylor Benefits Insurance. Our agents can provide information about the programs that make sense for your company and assist with identifying tax credit opportunities. Small businesses aren’t obligated to fund health assurance for their workers, but many do, and it can be a great recruiting and retention tool.
Suppose your company wants to use SHOP (Small Business Health Options) to offer coverage. In that case, you need to have between one and fifty full-time (or full-time equivalent) workers. It’s important to take note of these intricate details, as well as tune into our YouTube channel for more concise information and help navigating such insurance complexities. The policy must be available for all full-time employees, not a subset. To affirm this on a legal level, the company’s provider will disclose all necessary details to ensure that all team members are rightfully included under the coverage.
You get to decide how much of a subsidy to provide the workforce and how long staff members must wait before becoming eligible for inclusion. Any company logo displayed alongside these benefits can represent a symbol of care and attention to employees’ health and well-being. Offering excellent coverage options through such health programs can significantly boost satisfaction among your valued team members. Also, you can stick with one health plan or let workers choose from a multitude of options. So essentially, your broker can negotiate with the insurance company in order for your staff to have a choice, accommodating everyone’s individual preference.
Kentucky hosts a robust mix of large and small employers, and these organizations work hard to compete for the workers they want to hire and retain on a level playing field. Employers like Yum! Brands purposefully provide attractive benefits packages to their workforce to stand out. Yum! Offers headquarters-based team half days on Friday, flexible schedules, and a minimum of four weeks of annual vacation. As a result, they are recognized as an employer of choice.
Other large companies like Humana tout their 401(k) program, flexible spending accounts, and comprehensive healthcare coverage, including manageable deductibles to promote employee health and wellbeing. Their logo, imprinted on every document, testifies to their commitment to their workforce’s welfare.
All these features are typically mentioned when eligible workers list their preferred benefits. Other desired components include dental and vision insurance, family leave, tuition assistance, student loan support, and the ability to work from a remote location, all of which help set the order in which companies appeal to new hires.
On January 1, 2014, the federal government implemented the Affordable Care Act (ACA), also known as Obamacare, in the United States. You may be wondering, amidst this variety of options, how many employees you need to qualify for team healthcare protection with an insurance company or provider. Under this health plan, companies with a specific number of staff members are now required to offer medical protection coverage to their eligible team members, regardless of the state, including Kentucky, Nevada, and Colorado.
This news continues to cause confusion for business owners who are unsure what their requirements may be when it comes to providing insurance coverage. We have served as a trusted broker for thousands of local business owners, guiding them through every step of the insurance process with intricate details. Since we have long offered affordable health protection plans to our clients, we know the best plans for your employees, your company and most of all, we instill confidence during the entire process.
When it’s time to ensure that your full-time employees are covered and that your business is following the rules of the ACA, we are here to support you. With Taylor Benefits, you’re not just getting an insurance plan, but an experience like no other, backed by a rapidly evolving network across various states. Our team of experts is prepared to offer advice, guidance and accurate representations on a spectrum of products regarding life insurance, long-term care, cancer insurance, long-term and short-term disability and more, focusing on individual needs and group coverage. We address every query at a detailed level, fostering content that promotes a clear understanding of each aspect.
For the best insurance coverage in the state of Kentucky, be sure to contact a provider, like an agent, today. Whether you’re looking for coverage for individuals, families, or teams, we are at your service. You can either fill out the FREE quote form available on this page or engage our broker service to speak to an agent. We take pride in providing exceptional customer service, and our specialists are always ready to help. Recognizing the diversity of our client base, we also offer our breadth of services in Español, ensuring that we cater to a wider area of customers. Here’s an example of how we cater to collective packages that help our customers handle healthcare claims effectively.
We understand that there’s a lot to digest when it comes to healthcare protection. That’s why we’ve compiled these answers to frequently asked questions and added information to boost your knowledge and productivity in understanding such matters. It should aid in the management of claims and the understanding of collective plans.
Access to a large group health protection plan typically comes from an employer. These team solutions, often brokered through reputable insurance organizations, offer substantial benefits for employees and employers alike. Due to the high volume of enrollees, employees in these large groups may obtain superior coverage, more options, and lower premiums. Concurrently, businesses may become eligible for tax credits if they pay a portion of their staff members’ premiums. One undeniable advantage to the company is that offering insurance promotes a positive work environment, leading to increased productivity and optimum performance. This increased work output can prove highly beneficial for businesses when their workforce is adequately insured. Benefits providers have further streamlined this process for employers in all states, including Kentucky, Georgia, and Virginia, making access to these benefits easier.
Employee benefits are a potent tool for attracting new talent to a company and retaining existing staff members. Employers have the liberty to select a workplace advantage plan that aligns with their business needs, regardless of its size. In locales like Kentucky and Georgia the range of benefits offered depends on the organization; commonly included are health coverage, vision and dental insurance, paid time off, and a 401k.
Health protection premiums are typically split between employees and employers, with the latter usually bearing a larger percentage of the cost. Premiums have seen a decline since the enactment of the Affordable Care Act (ACA) in 2010, however, it must be said that insurance products remain a significant expenditure. In turn, the rates vary based on the scope and type of coverage as well as geographical factors, with variations noticeable between states such as Virginia and Georgia.
Access to a large workplace health insurance frequently comes from an employer. These group programs, an example of how employers implement provisions, often carry significant advantages for both staff and employers. The large participant pool in these packages permits employees to enjoy more choices, superior coverage, and reduced premiums. Meanwhile, employers may qualify for a tax advantage if they contribute towards their staff members’ premiums. A tangible benefit to the employer is the fostering of a positive work environment, enabling them to put in their best efforts.
Access to a large group health protection typically comes from an employer. These programs often provide significant benefits for both the workforce and the organization. For instance, due to the high number of individuals covered under these insurance packages, the workforce may enjoy more options, better coverage, and lower premiums. Concurrently, organizations might qualify for a tax credit if they contribute to their staff members’ premiums. Additionally, a clear advantage for the company is that offering insurance promotes a positive and happy work environment, enabling the workforce to perform at their best.
Attracting new staff and retaining current members of your team can be effectively achieved through offering comprehensive benefits. Businesses, regardless of their size, have the flexibility to select a benefits package that aligns with their needs. In Kentucky, the types of benefits provided by organizations typically include health coverage, vision and dental insurance, paid time off, and a 401k.
Health insurance premiums are often split between employees and employers, but employers typically pay a larger percentage of the cost. While premiums have declined since the passage of the Affordable Care Act (ACA) in 2010, insurance is still not inexpensive.
In Kentucky, the cost ranges from less than $600 to over $1700 per month per subscriber. The factors that affect the cost include whether it is single or family coverage, the deductible and co-payment terms, and the group size.
Group health insurance is a policy purchased by an employer or organization to provide coverage for a group of employees or members. It offers a cost-effective way for a group to access healthcare benefits and typically includes medical, dental, and vision coverage. What is group health insurance is an essential employee benefit.
Group health insurance in Kentucky is typically offered through employers and covers a group of people, while individual health insurance is purchased by individuals for themselves and their families. Group plans often have lower premiums and broader coverage, while individual plans offer more customization options.
Group health insurance for Kentucky businesses offers cost savings, increased employee satisfaction, and simplified administration. However, it may limit customization options and could lead to higher premiums based on the overall health of the group. Understanding these pros and cons can help businesses make informed decisions.
In a group health insurance plan, the premiums are typically divided between the employer and employees. Employers often cover a portion of the premium costs, while employees contribute the remaining amount through deductions from their paychecks. The specific breakdown of premium sharing can vary depending on the company’s policies.
In most cases, non-contributory group insurance plans require a minimum of 75% of eligible employees to be covered. This ensures comprehensive coverage for the majority of the workforce without individual contributions. Employers should confirm specific requirements with their insurance provider to ensure compliance.
In Kentucky, the main difference between a PPO and an HMO lies in network flexibility and cost-sharing. PPO plans offer more provider choices and out-of-network coverage, while HMO plans require referrals for specialist care and have lower out-of-pocket expenses.
In Kentucky, the most commonly used insurance for group health plans is employer-sponsored health insurance. This type of insurance is provided by employers to cover a group of employees and their dependents, offering comprehensive coverage and cost-sharing benefits.
Group health insurance premiums in Kentucky are calculated based on factors such as the number of employees covered, age of employees, location, and plan chosen. Insurers also consider the group’s claims history and overall health risk. Employers may share costs with employees, affecting the final premium amount.
The average monthly cost of health insurance in Kentucky ranges from $300 to $500 for an individual and $700 to $900 for a family. Factors such as age, health status, and coverage type can impact these rates. Shopping around and comparing quotes can help find the best deal.
Health insurance in Kentucky may be expensive due to factors like the state’s poor health outcomes and high rates of chronic diseases, which drive up healthcare costs. Limited competition among insurers and higher-than-average medical costs also contribute to the high prices.
Yes, Kentucky does require health insurance coverage for residents. The state passed legislation mandating all residents to have health insurance to ensure access to essential healthcare services. Failure to comply may result in penalties or fines. It is important for Kentucky residents to have active health insurance coverage.
In Kentucky, it is not illegal to not have health insurance. However, the state encourages residents to have coverage to avoid potential financial burdens from medical emergencies. The Affordable Care Act does not mandate coverage, but it’s advisable to have health insurance for your well-being.
In Kentucky, employers are not required by law to offer health insurance to their employees. However, under the Affordable Care Act, businesses with 50 or more full-time employees may face penalties if they do not provide affordable health coverage. Small businesses with fewer employees may qualify for tax credits if they choose to offer health insurance.
In Kentucky, drivers are required to have minimum liability insurance coverage of 25/50/10, which means $25,000 for bodily injury per person, $50,000 for bodily injury per accident, and $10,000 for property damage. It is essential to meet these requirements to legally drive in Kentucky.
If you don’t have insurance in Kentucky, you may face penalties, such as fines or license suspension. Without insurance, you could be held financially responsible for any accidents or injuries you cause. It’s crucial to have coverage to protect yourself and others on the road.
Kentucky employers with at least 2 employees are required to offer group health insurance. The coverage must include essential health benefits and comply with state and federal regulations. Employers must also contribute a minimum percentage toward the premium costs.
A group-owned insurance policy is a plan purchased by a group of businesses in Kentucky to provide coverage for their employees. By pooling resources, businesses can access better rates and coverage options. Premiums are typically shared among the members, making it a cost-effective solution for small to medium-sized businesses in Kentucky.
Offering group health insurance to employees in Kentucky can provide numerous benefits, including attracting top talent, improving employee retention, and potentially lowering overall healthcare costs. Group health plans also offer tax advantages for both employers and employees, making it a valuable investment in employee well-being.
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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