Go through a reliable and licensed insurance agent in the State of Texas if you are looking for low cost premiums on health protection packages for your Lubbock business. Taylor Benefits Insurance Agency provides inexpensive options for companies of all sizes, from small businesses to corporations. Throughout our history, we’ve been able to form relationships with the absolute best insurance carriers throughout the state which gives us room for negotiations and modifications to all eligible group health plans.
Employers throughout the country face a challenge in offering high-quality health protection to their staff members. Like others, Lubbock companies are feeling the difficulty as costs continue to rise. Still, large companies must comply with the ACA mandate to provide coverage and limit the percentage of income that crew members pay. For 2023 the premium share paid by the subscriber must be less than or equal to 9.12 percent of their income. This requirement often means that the company must absorb price increases they can’t pass on to the workers.
To try and control costs, some companies negotiate with their team insurers to look for savings. Some of the approaches include:
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:
Talk to your consultant about options for your small business.
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.
Dial 800 -903-6066 and get free consultation on Texas Group Health Insurance & Employee Benefit Plans
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.
Give Taylor Benefits a call now at 800-903-6066 to learn more and begin setting up your group health and employee benefit package. Contact us and we will even provide you with a FREE quote at our site!
Are you looking for a Texas Group Health Insurance & Employee Benefits? Click the quote button below to get an instant quote.
Are you looking for a Texas Team Health Insurance & Employee Benefit Plans? Click the quote button below to get an instant quote.
Learn more about Lubbock employee benefits packages offered by Taylor Benefits.
Employees are integral to your success. No doubt, they are the most important assets. And, just as any other asset, you should insure them, too. Collective health protection and employee benefits for full-time staff members are great options in this regard.
With Taylor Benefits, it is much easier than you think. You don’t have to do it alone. We will guide you through the entire shebang.
We will help you with the following services-
Health plan is one of the most important benefits a full-time crew member receives from you after the retirement program. Thus, you should offer health plan to your employee as a company benefit.
The top three benefits that make your crews more satisfied are-
Since health protection is the priority for your staff members, it should be a top priority for you, too. Offering health solution can help in hiring and retaining full time crew members.
It is a big benefit for any business. When the employers purchase it as a group for your full time or part time workers, you have to pay less for the services. By providing team health protection coverage, you can save on tax as employer contributions are tax-deductible. Also, employer worker’s compensation premiums come at a low cost.
By providing health plan to your employees from our insurance agency, you can boost employee productivity. Surely, as an employer, you want your employee to focus on giving their best and be successful at what they are doing. But if they worry about health insurance service, it just drains their time and energy thinking about future.
Setting up medical coverage from the right providers can be a hassle. But if your staff members are already getting coverage from their employer, they have one less thing to worry about. Thus, they can concentrate on their work better and be a committed member.
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.
The common features of our group medical coverage services in Lubbock, TX are-
If you have already decided to get collective protection for employees, kudos to you. But before you buy, here are a few factors you need to consider.
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.
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.
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.
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.
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.
At Taylor Benefits, we can provide you with the best group insurance and employee benefits. You can depend on us as we are the best at what we do. We are a licensed insurance agent, and we will help in establishing your needs after a thorough review. Taylor Benefits has worked with many top business owners and helped them get the best group medical coverage policy.
So, call us today at 800-903-6066 and get a free quote on team health insurance. We assure you of assistance from our certified experts.
Written by 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.
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.
We’re ready to help! Call today: 800-903-6066