Little Rock Group Health Insurance & Employee Benefits Plans

Little Rock group health insurance plans

Table of Contents

  1. Group Health Insurance and Employee Benefits
  2. Who We Are
  3. Insurance Products by Taylor Benefits
  4. Why Taylor Benefits
  5. Contact Us Today
  6. Little Rock large group health insurance

Little Rock, AR, is the capital of Arkansas and by far the largest city in the state, with over 200,000 residents. The state government is the biggest employer in Little Rock, but other companies have sizable employee counts as well. Local businesses hoping to improve their recruiting and retention success can often achieve their goals by adding group health insurance to their employee benefits packages.

Employees prioritize health insurance from an employer because it allows them to obtain better coverage at a lower price compared to an individual policy.

Group Health Insurance and Employee Benefits

While large companies are obligated to include health insurance in the employee benefits package, smaller companies often realize the value of doing so. Studies show that employees with access to sponsored health insurance are less stressed, more productive, and more likely to remain with their employer.

The resulting reduction in turnover can make health insurance a good bargain for the business while also contributing to your employees’ well-being and stability.

Little Rock Large Business Health Insurance Plans

Large businesses based in Little Rock, Arkansas, must offer health insurance to their employees to comply with the Affordable Care Act or pay the penalty for noncompliance. Most large companies prefer to provide insurance and pay a portion of each subscriber’s cost. Across the U.S., 95 percent of large employers make some contribution to the premium cost, with three-quarters of those employers subsidizing as much as twenty-five percent of the cost for individual coverage, according to the Kaiser Family Foundation Benefits Survey.

The employer can choose from several available delivery systems to provide access to insurance. Forty-six percent of covered workers in large firms have coverage through a PPO (preferred provider organization). Another large group of nearly twenty percent has an HMO (health maintenance organization), and over thirty percent are enrolled in a High Deductible Health Plan/Savings Option.

What sets the HDHP/SO plans apart from others is that the employer usually contributes a substantial amount to the savings option, thereby reducing the burden on the subscriber. That’s not necessarily the case for workers enrolled in other plans, which may also have high deductibles but don’t include the HSA option and to which the employer isn’t contributing. However, to qualify as an eligible HSA, the plan must have a deductible of at least $1,400 for individual coverage and $2,800 for a family. In practice, most have higher deductible amounts.

Little Rock Small Business Health Insurance Plans

Small companies are not required to offer a health plan to their employees (if they have fifty or fewer). However, the ACA has some provisions to help those companies that want to. Those that do must comply with rules for small businesses. One is minimum essential coverage, which is the same as the large companies must provide.

Insurance must also be available for all workers in the company (not just managers or highly compensated staff). Finally, to receive the Small Business Health Care Tax Credit, the employer must pay at least half the premium cost for employees. There are also restrictions for credit eligibility depending on the average worker’s pay.

Small business owners should consider seeking guidance from a broker like Taylor Benefits Insurance to evaluate and compare potential health plans. Small business group options are sorted into tiers with metal name identifiers to help categorize the value. Bronze plans, for example, have a lower premium but higher costs for service. In contrast, a platinum plan will have the highest premium but a lower price when the subscriber needs to use the coverage. In between are silver and gold.

Little Rock Employee Benefits Plans and Employee Benefits Packages

MetLife’s 2022 Benefits Survey found that 73 percent of employees say that a broader choice of benefits would encourage them to remain working at their current employer. Also, employees state that benefits choices reduce stress and enhance financial wellness. The survey also pointed out that employees who are content with their benefits are seventy percent more likely to express loyalty to their company.

Employers typically try to design a benefits package to help their workers maintain financial stability and plan for the future. That could mean offering health insurance, life insurance, contributions to a retirement savings plan like a 401(k), assistance finding or paying for childcare, and coverage for medical expenses.

Call 800-903-6066 for a free consultation on Little Rock Group Health Insurance and Employee Benefits Plans.

Who We Are

Taylor Benefits Insurance is a leading insurance broker with over 35 years of service to large and small clients across the country. We are proud of our exceptional service and committed to helping our clients provide an outstanding benefits package.

Because we are insurance specialists, we are always up to date with emerging trends in the healthcare market and are also fully versed in the changes to applicable regulations.

We get to know your company’s needs and design a custom program that will appeal to your employees while respecting your budget.

Little Rock group health benefits and employee insurance plans

Insurance Products By Taylor Benefits

Taylor Benefits can help you with the following health insurance options and other benefits components:

Are you looking for a Little Rock Group Health Insurance and Employee Benefits Plan? Click the quote button to get an instant quote.

Why Taylor Benefits?

At Taylor Benefits, we will create an affordable and comprehensive group health insurance and employee benefits package that will be suitable for your employees. Because we are an independent insurance broker, we work with multiple insurance carriers and can recommend the providers and products that best meet your needs.

We are committed to ensuring that your plans are compliant with the standards of the Affordable Care Act (ACA). Our consultants will conduct periodic reviews to ensure that your program remains compliant with regulations as well as competitive in the market.

Contact Us

Taylor Benefits is ready to help you find an ideal group health insurance and employee benefits plan. Call us today for a free consultation, or complete this form to request a free proposal.

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