Knoxville Group Health Insurance & Employee Benefit Plans

Knoxville group health insurance plans

The city of Knoxville in Tennessee boasts of a diversified economy and an unemployment rate of 7.9%. It hosts hundreds of businesses that have contributed towards the creation of employment for its skilled labor force. However, the current health care system poses challenges for employees and employers in this city. The increasing complexity of administering group health care plans coupled with escalating costs of routine health care diagnostics and government bureaucracy doesn’t help. This is not to say that employers should not offer benefits plans.

Knoxville TN Large Group Health Insurance Plans

With inflation continuing across the country, health insurance premiums seem to increase yearly. Still, large companies must offer health insurance for their employees, and the Affordable Care Act limits the percentage of income that workers pay. For 2023 the employees’ premium share can’t exceed 9.12 percent of their income. This requirement means that the company will cover any rate hikes they can’t pass on to the employees.

As a result, businesses are increasingly working to keep costs down. So, group insurers are trying other cost-management methods, including:

  • Contracting with providers for coverage, narrowing subscriber choices.
  • Requiring pre-approval for inpatient hospital services except in emergency circumstances.
  • Providing telehealth options for routine concerns that don’t need an in-person visit.
  • Offering financial incentives for subscribers to use more cost-effective providers.
  • Sponsoring wellness activities and encouraging healthy habits like smoking cessation.
  • Charging different premiums to workers based on compensation so that those with higher salaries pay higher premiums.

Knoxville TN Small Business Health Insurance Plans

Many small companies are looking into QSEHRA programs for their employees. These healthcare reimbursement accounts let small businesses provide workers with tax-free reimbursement of their insurance expenses. According to the HRA Council, most firms using QSEHRA funds have fewer than 20 employees. At that size, but also depending on the company’s pay levels, it may be eligible for a tax credit under the ACA.

QSEHRA programs limit how much the employer can reimburse each year, but if the worker doesn’t use it, the funds can roll over for future needs. This approach helps small companies control their healthcare spending and keep it within budget. Also, employees may qualify for ACA subsidies when obtaining their insurance policy through an exchange. Companies with QSEHRA programs can’t also offer other health insurance.

Knoxville TN Employee Benefit Plans and Employee Benefit Packages

An attractive benefits program for a company in Knoxville might incorporate a health insurance plan, a PTO (paid time off) policy, and other benefits like retirement savings support, dental insurance, vision coverage, tuition reimbursement, and childcare support. A top-quality benefits package can help you attract and retain top-quality workers. Your Taylor Benefits Insurance specialist can help you by offering information about the preferred components and how to maximize your benefits budget.

Group Health Insurance and Employee Benefits

As an employer in Knoxville, the challenge comes where you have to minimize the cost of providing affordable group health insurance and employee benefits packages without compromising on the quality of services. There are measures you can take to reduce the cost of your health care insurance plan premiums. Working with a trusted group health insurance and employee benefits provider is a great step towards taking advantage of your benefits plan to boost your business on many fronts.

Who We Are

Taylor Benefits is a trusted group health insurance and employee benefits provider. We offer group health benefits plans that appeal to career-oriented individuals who are concerned about the kind of insurance options and benefits they receive at the workplace. We craft custom employee benefit plans after understanding your company’s needs and the needs of your employees. We are also keen about safeguarding your bottom line. With our extensive experience in group health insurance and employee benefits we are able to help your company rise above the competition by attracting and retaining qualified professionals.

Dial 800-903-6066 and get free consultation on Knoxville Group Health Insurance & Employee Benefit Plans

Insurance Benefits By Taylor Benefits

Taylor Benefits Insurance Agency can assist with all your group health insurance and employee benefits coverage needs including:

  • Group health insurance plans
  • Affordable Care Act (ACA)
  • Short-term and long-term disability insurance
  • Pension plans
  • Medical, vision and dental insurance
  • Employee benefits and Wellness plans
  • 401(k) savings plans
  • Group retirement plans
  • Health savings plans (HSA)
  • Long-term care
  • Group life insurance
  • Section 125 cafeteria plans
  • Knoxville large group health insurance

Are you looking for a Knoxville Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

Why Taylor Benefits

At Taylor Benefits, we are able to help your business find a group insurance and benefits plan at affordable costs and lower premiums. As an independent insurance agency, we have been working with top insurance carriers for the last 30 years. Our agents will take you through all the options before assisting you in creating a perfect group plan. We also offer unbiased advice and negotiate costs while remaining in compliance with the standards of the Affordable Care Act (ACA) as well as state and federal laws. Our primary duty is to help you navigate the required coverage so that your employees’ needs are taken care of.

Knoxville group health benefits and employee insurance plans

Get In Touch

Get in touch with our licensed insurance professionals today for any inquiries on group health insurance and employee benefits. We are ready to guide and customize an attractive benefits plan for you. You may also request a free proposal or call us on 800-903-6066.

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.

We’re ready to help! Call today: 800-903-6066