Lubbock Group Health Insurance & Employee Benefits Solutions

Lubbock group health

Providing health insurance to employees is a crucial part of running a successful business in Lubbock, Texas. A well-structured group health insurance plan not only helps employees maintain their well-being but also serves as a tool for attracting and retaining top talent. In today’s competitive job market, businesses that offer comprehensive health benefits stand out among prospective employees who prioritize workplace benefits when choosing an employer.

Lubbock group health insurance plans come in various structures to meet the needs of different businesses. Whether you run a small startup or a large corporation, offering a health benefits package can improve employee satisfaction, reduce absenteeism, and increase productivity. Taylor Benefits Insurance specializes in designing tailored group health insurance solutions that fit the specific needs of businesses in Lubbock while ensuring compliance with state and federal regulations.

Why Group Health Insurance is Essential for Businesses

A well-structured group health insurance plan is a valuable asset for both employers and employees. Here are a few reasons why businesses should consider offering group health coverage:

  • Employee Retention & Satisfaction – A good benefits package shows that employers care about their workforce, reducing turnover rates.
  • Tax Benefits – Businesses offering group health insurance can often enjoy tax deductions and credits.
  • Increased Productivity – Employees with access to healthcare are more likely to stay healthy and work efficiently.
  • Competitive Advantage – Offering health benefits makes a company more attractive to skilled professionals.

Stethoscope and chalkboard with text INSURANCE on a table

Types of Lubbock Group Health Insurance Plans

Employers in Lubbock can choose from various types of group health insurance plans, depending on their budget and the needs of their employees. Some of the most common plans include:

1. Large Group Plans

Businesses with 50 or more employees typically qualify for large group health insurance plans. These plans provide comprehensive coverage at lower costs per employee due to the size of the risk pool. Large group plans often offer extensive benefits, including medical, dental, vision, and wellness programs. Taylor Benefits Insurance works with top insurance providers to ensure businesses get the best coverage options for their workforce.

To try and control costs, some companies negotiate with their team insurers to look for savings. Some of the approaches include:

  • Contracting directly with providers for coverage, offering preference to providers demonstrating cost efficiency.
  • Requiring workers to obtain pre-approval for inpatient hospital services unless it’s an emergency.
  • Offering and encouraging telehealth options for routine issues.
  • Discouraging the use of some provider systems, like emergency rooms.
  • Incentivizing subscribers to use more cost-effective providers.
  • Sponsoring wellness activities, including health screenings and fitness classes.

2. Small Group Plans

Small businesses with fewer than 50 employees can still access affordable health coverage through small group plans. These plans are designed to offer quality healthcare while remaining cost-effective for both employers and employees. Some insurers also provide special incentives for small businesses to encourage them to offer coverage.

In cities like Lubbock, small companies can effectively provide health protection – if they choose. However, since the Affordable Care Act mandate for coverage doesn’t apply to businesses with fewer than fifty workers, the decision is up to the company. Companies looking for resources and information about insurance can find help from SHOP (Small Business Health Options Program), created by the ACA, which provides incentives for offering compliant coverage.

Some businesses can even qualify for a tax credit if they are eligible using these criteria:

  • Employ fewer than 25 staff members
  • Pay lower average wages (currently set at less than $53,000 yearly)
  • Offer an eligible health plan from the Small Business Health Options Program or through a qualified broker like Taylor Benefits Insurance.
  • Subsidize at least half the cost for enrolled workers. The company does not have to share the cost for dependents

3. HMO, PPO, and POS Plans

Employers can choose from different network-based health insurance options:

  • Health Maintenance Organization (HMO) – Requires employees to use a network of designated providers.
  • Preferred Provider Organization (PPO) – Offers flexibility by allowing employees to see out-of-network providers at a higher cost.
  • Point of Service (POS) – A combination of HMO and PPO benefits, where employees need referrals but have the option to see out-of-network providers.

Employee Benefit Plans and Workplace Provisions Packages

Creating a Competitive Employee Benefits Package in Albany, GA

A retirement savings plan is one of the benefits that crew members typically ask for, although participation rates remain low in companies that offer one.

Whether the business is large or small, they can consider some excellent options to support workers’ retirement savings. The SEP-IRA (Simplified Employee Pension Individual Retirement Account) offers an attractive option for companies with fewer than twenty workers. It’s flexible because the owner can decide whether to contribute each year.

Somewhat bigger companies may prefer the SIMPLE IRA, which has more options. In either a SEP or SIMPLE plan, all contributions the business makes to the account belong to the account holder with no vesting period. This policy contrasts with the sometimes lengthy vesting requirements for other accounts like 401(k) plans. In addition, this vesting period waiver provides the employer with a safe harbor for demonstrating compliance with nondiscrimination protocols, making administration more straightforward.

All the Choices You’ll Have for Your Group Package

A comprehensive employee benefits package goes beyond just health insurance. Lubbock employee benefits plans may include additional perks to create a well-rounded program for employees. These benefits may include:

  • HSA and FSA
  • HMO and PPO
  • Medicare options
  • Cafeteria plans (section 125)
  • COBRA and continuation of coverage
  • Team short- and long-term disability
  • Worker’s compensation insurance
  • Retirement Packages
  • Lubbock large group medical coverage

Explanation of the Affordable Care Act

All businesses in Texas city must be in compliance with the ACA. This is a government issued law that changes quite frequently and has a reputation. By remaining in accordance with the standards and requirements of the act, your business has the advantage of qualifying for tax breaks.

At Taylor Benefits Agency, we make sure your plan regards the Affordable Care Act. Our licensed brokers are on top of the annual changes made to the policy. They’ll even audit and review your program during its duration to assure that it keeps up with the ever-changing requirements listed in the act.

How Taylor Benefits Insurance Can Help?

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Taylor Benefits Insurance is a trusted provider of group health insurance solutions in Lubbock. Our team works closely with businesses to assess their needs and recommend the best plans. With access to top insurance carriers and years of industry experience, we help companies design affordable and comprehensive benefits packages.

Our services include:

  • Customized Plan Design – Tailoring coverage options to suit business size and budget.
  • Regulatory Compliance Assistance – Ensuring adherence to ACA and state regulations.
  • Employee Education & Support – Helping employees understand their benefits and make informed decisions.

Key Considerations Before Choosing a Plan

Is Team Health Insurance Necessary

Definitely! As employers, you need to take care of your employees. And monetary benefit isn’t the only source of happiness for your workers. It’s crucial that you create a healthy work environment with a strong vision. If your company is more employee-centric, it will keep the workers happy. Discuss and review your employee benefits to have a good reputation for your company.

Here’s why you and your crew members need to enroll for health insurance.

  • Wide Coverage: With a group insurance plan, you can offer wider coverage and added health benefits to your eligible workers at a minimum cost.
  • Customization: Our team protection package allows employers to customize as per their requirements. For example, our clients can choose a plan that offers both maternity and OPD cover. Insurance providers also allow employers to enroll for disability or life insurance on behalf of their employees.
  • Affordable Premiums: Our collective healthcare solution is more affordable than you know. Moreover, the group plan we provide is lesser than the premiums of an individual protection plan. So, our clients pay less and still get the best service in Lubbock, TX.

Features of Team Medical Coverage and Employee Benefits

The common features of our group medical coverage services in Lubbock, TX are-

  • Coverage services for self, spouse, dependent parents, and children
  • The facility of cashless hospitalizations at any listed hospital networks with best daycare services
  • Coverage services for maternity expenses and pre-existing diseases without any waiting period
  • Reimbursement of any treatment taken by employees under specialists or medical practitioners
  • Ancillary charges, such as emergency transportation service cost to the hospital

The Amount You Want to Insure

It is an obvious point to consider before buying any services. But your decision-making should go beyond what you can afford or what other providers in your industry have to offer. Healthcare, life, and disability premium cost is rising. So, you should make sure your workers don’t think company-provided health benefits aren’t sufficient.

At times, your eligible staff members solely depend on the health insurance and employee benefits you offer. So, ensure that you are ensuring adequate sum for your staff members by choosing an expertise agency in your city.

Coverage for Family Members

Close up of an unrecognizable young cardiologist holding a stethoscope

Family coverage can push the premium amount charged by companies. However, if your company has enough budget, consider including family, disability, and life insurance coverage. An all-inclusive healthcare plan for all your staff members along with their family members can offer many benefits, including better brand positioning and higher employee retention.

Waiting Period

We provide medical coverage with various waiting periods. A waiting period is the time that the insured person has to wait to get insurance benefits from companies. For example, there is an initial waiting period of 30 days before which the insurance starts to pay for illness or sickness as per the Shamburger agency.

Also, there is a waiting period for the pre-existing disease subject to certain conditions. It is for a person who has some pre-existing disease while taking the plan. At times, they have a waiting period of up to 4 years. But with companies offering team health benefits, you can waive off such a waiting period for employee benefits. Consider waiving off the waiting period to make sure your eligible staff members get the insurance benefits instantly without any co pay from their side.

Hospitals Included

Often employers tend to neglect this as there are limited hospitals in the city. But if you need to ensure that good hospitals in the city are covered, which are known for their best treatment and good facilities in Lubbock, TX.

When your staff members are sick, they would love to get treated at the best medical facility having a brand value and good review. Thus, it means make sure you tell us about your preferred hospitals under your group healthcare coverage and employee benefits. This is how you can serve your employees better.

Add-Ons like Dental Protection or Maternity Cover

Without a customized health insurance policy, you can provide more benefits to your staff members. You can include various add-ons to your policy without any search. For instance, you can include maternity expenses, dental insurance, or OPD treatments. Also, you can include mental health and retirement packages. Talk to your workers and let us know what you need.

Get Started with Taylor Benefits Insurance Today

Finding the right Lubbock group health insurance plan doesn’t have to be complicated. Taylor Benefits Insurance makes the process seamless by providing expert guidance and access to top insurance carriers. Whether you need large group plans for a growing company or small group plans tailored for a startup, we can help you secure the best coverage.

Call us today at 800-903-6066 to learn more about our Lubbock employee benefits plans and find the right health insurance solution for your business.

Relevant Statistics

  • Over 85% of businesses in Lubbock provide team healthcare coverage for their staff members.
  • The average annual premium for group health insurance in Lubbock is $5,400 per employee.
  • Approximately 95% of employees enrolled in collective healthcare benefits in Lubbock have access to preventive care services.
  • On average, employers contribute 75% towards the monthly premiums for group health insurance plans in Lubbock.
  • More than 80% of residents covered by workforce health insurance in Lubbock reported high satisfaction levels with the quality of healthcare services received.

General Facts

  • Lubbock offers a variety of team medical coverage for businesses and organizations.
  • Group health protection provides coverage for a group of individuals, typically employees or members of an organization.
  • These packages often include benefits such as doctor visits, hospitalization, prescription medications, and preventive care.
  • Employers in Lubbock can offer collective health protection as part of their employee benefits package to attract and retain talented workforce.
  • Group health insurance helps protect individuals and their families from high medical costs by sharing the financial risk among the team members.

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