Kentucky Group Health Insurance & Employee Benefit Plans

Kentucky business owners, the active members of our economy, should not have to stress over group health insurance, individual policy, medicare enrollment, or other employee benefits 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 Kentucky clients through the complex process of finding the best plans including appropriate health plans and 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 employees 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.

Kentucky Group Health Insurance & Employee Benefit Plans

We know that it can be daunting for the working members of our population to figure out which group health insurance plans will work best for your employees, 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 group health insurance plan 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:

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

Kentucky’s large employers have ample options when choosing health care coverage for their employees. With numerous large companies in the state, many workers are accustomed to receiving comprehensive insurance benefits through their employers as a regular ingredient of their employment. In addition, more residents receive coverage through the state-run health insurance 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.

Kentucky Large Group Health Insurance Plans

ACA-compliant plans 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 in Kentucky can explore options for offering group health insurance 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 insurance for their workers, but many do, and it can be a great recruiting and retention tool.

  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 plan 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

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 insurance 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 employees are rightfully included under the coverage.

You get to decide how much of a subsidy to provide the workforce and how long employees 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 plans can significantly boost satisfaction among your valued team members. Also, you can stick with one health plan or let employees choose from a multitude of options. So essentially, your insurance broker can negotiate with the insurance company in order for your employees 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 employees 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.

Kentucky Small Business Health Insurance Plans

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 employees 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 group health insurance with an insurance company or provider. Under this health plan, companies with a specific number of employees are now required to offer health insurance coverage to their eligible employees, 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 Kentucky business owners, guiding them through every step of the insurance process with intricate details. Since we have long offered affordable Kentucky health insurance 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.

Kentucky Employee Benefit Plans and Employee Benefit Packages

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 plans. 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 groups, we are at your service. You can either fill out the FREE quote form available on this page or engage our insurance 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 group plans that help our customers handle healthcare claims effectively.

We understand that there’s a lot to digest when it comes to Kentucky health insurance plans. 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 group plans.

Relevant Statistics

  • Over 85% of businesses in Kentucky offer group health insurance to their employees.
  • The average deductible for a Kentucky group health insurance plan is $1,250.
  • Approximately 90% of Kentuckians who have access to employer-sponsored health insurance choose to enroll in a group plan.
  • There are over 50 insurance providers in Kentucky offering group health insurance options.
  • More than 95% of Kentuckians covered by group health insurance receive preventive care services annually.

General Facts

  • Kentucky group health insurance refers to health insurance plans offered to groups such as employers, organizations, or associations in the state of Kentucky.
  • These plans typically provide coverage for a group of people, which can include employees and their dependents.
  • Group health insurance in Kentucky often offers more affordable premiums compared to individual health insurance plans.
  • Employers in Kentucky are required to offer group health insurance to their employees if they have 50 or more full-time equivalent employees.
  • Kentucky group health insurance plans must comply with the regulations set by the Affordable Care Act, which include covering essential health benefits and prohibiting discrimination based on pre-existing conditions.

Kentucky Group Health Insurance & The Affordable Care Act

Access to a large group health insurance plan typically comes from an employer. These group plans, 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 employees’ premiums. One undeniable advantage to the company is that offering insurance promotes a positive work environment, leading to increased productivity and optimum performance from employees. This increased work output can prove highly beneficial for businesses when their workforce is adequately insured. Insurance 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 employees. Employers have the liberty to select an employee benefits plan that aligns with their business needs, regardless of its size. In locales like Kentucky and Georgia the range of employee benefits offered depends on the organization; commonly included are health coverage, vision and dental insurance, paid time off, and a 401k.

Health insurance 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 group health insurance plan frequently comes from an employer. These group plans, an example of how employers implement employee benefits, often carry significant advantages for both employees and employers. The large participant pool in these plans permits employees to enjoy more choices, superior coverage, and reduced premiums. Meanwhile, employers may qualify for a tax advantage if they contribute towards their employees’ premiums. A tangible benefit to the employer is the fostering of a positive work environment, enabling employees to put in their best efforts.

Frequently Asked Questions About Kentucky Health Insurance And Employee Benefit Plans

What Are the Benefits of Large Group Health Insurance plans in Kentucky?

Access to a large group health insurance plan typically comes from an employer. Often, these plans offer great benefits for both employees and employers. For example, because of the high number of people included in these insurance plans, employees may have more options, better coverage, and lower premiums. At the same time, employers may qualify for a tax credit if they pay part of the employees’ premiums. Also, a definite benefit to the company is that providing insurance fosters a positive and happy work environment for employees to work at their best.

What Are the Different Types of Benefits Offered in Kentucky?

Employee benefits are one of the best ways to attract new employees to your business and retain current employees. Employers can choose an employee benefits plan that works for their business, whether it is small or large. Types of employee benefits offered in Kentucky depend on the organization, but they often include health coverage, vision and dental insurance, paid time off, and a 401k.

How Much Do Employers Pay for Health Insurance?

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.

Written by Todd Taylor

Todd Taylor

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.

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