Any company in the City of McKinney will want to stand up to its competition. By keeping hardworking, skilled employees working for your business, you will stand a better chance as a company. You can maintain a great staff by providing them with low rates and premiums on group health insurance and employee benefit plans that make it easier to care for themselves and their families. Having a plan also benefits the employer by protecting employees from illness and giving them a way to cover medical expenses.
There is one way to ensure that you’re getting the most out of your investment and that is to go through a dependable insurance broker in the State of Texas. They’ll work with the best insurance carriers and have the negotiation skills needed to create the right plan at the right price. For over 30 years, Taylor Benefits has been the licensed insurance agency to help businesses find a plan to introduce to their employees.
Large employers usually provide health insurance for workers and did so even before the Affordable Care Act implemented a mandate. They are also more likely to give a choice between plans and subsidize the premiums. Many big companies report that their workforce considers the upfront costs of insurance (premiums) more closely than the usage costs, like copayments and deductibles.
While Health Maintenance Organization (HMO) plans are becoming increasingly popular, many consumers still choose a PPO (preferred provider organization) even at a higher cost. The reason subscribers offer is that the HMO doesn’t include their particular medical provider or that they don’t want to go through a primary care physician to get a referral to a specialist. Still, surveys typically indicate similar satisfaction ratings for both kinds of plans. As a result, companies may be able to save money for their workers and their business by allowing a choice.
For small businesses, good coverage and reasonable cost are vital when choosing a health insurance plan for their workforce. These companies don’t have to provide access to employer-based health care but prefer to do so. Employees often select a Point of Service plan, which has some of the flexibility of a PPO along with the savings of an HMO. Usually, there is a small or even no deductible for in-network care, with higher charges for care outside the network. The model in this way is similar to a PPO. A POS can be an excellent option if your employees want flexibility in access to providers.
Cafeteria plans allow employees to pay for some benefits using pre-tax income, which saves money. These programs are called “cafeteria plans” because the employees can choose whether to participate and which benefits to opt for. The employer also benefits by reducing their payroll taxes. In addition, participants can pay for their health insurance premiums and fund flexible spending accounts, health savings accounts, or dependent care accounts with pre-tax dollars.
Companies with fewer than 100 employees can offer a simple Cafeteria Plan with easier compliance with nondiscrimination testing by following some administrative rules. Talk to your Taylor Benefits Insurance consultant about options.
There is a lot more to take advantage of than you see listed above. Simply call in to our office and ask to talk with one of our cooperative and experienced insurance brokers. They’ll gladly offer their consulting and planning services. After you have formulated a plan with the broker’s assistance, they’ll start gathering quotes and negotiating the costs with the insurance carriers selected. Pick up the phone now and call our McKinney center at 800-903-6066 and we will even provide you with a FREE quote!
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