- Providing world class service and value for employee benefit group plans since 1987
Memphis is a dynamic city with a diverse and growing economy fueled by industries such as healthcare, transportation, education, and entertainment. As competition for skilled workers continues to rise, offering comprehensive employee benefits has become a key differentiator for businesses looking to attract and retain top talent. According to the U.S. Bureau of Labor Statistics, around 69% of private industry workers in the U.S. have access to employer-sponsored health benefits — a number expected to rise in regions like Memphis where economic development is strong.
At Taylor Benefits Insurance, we specialize in crafting group health insurance and employee benefits packages that meet the evolving needs of both employers and employees. With over 30 years of experience nationwide, we bring customized solutions to Memphis businesses that help strengthen employee satisfaction, loyalty, and overall productivity.
Offering group health insurance in Memphis is now a necessity. Businesses that provide robust healthcare benefits can:
Improve employee engagement and performance.
Reduce turnover and attract qualified job candidates.
Boost their brand reputation within the Memphis job market.
Lower healthcare costs through preventive care and early treatment.
Taylor Benefits Insurance partners with Memphis companies to design affordable and effective group health plans that match your company’s budget and vision, ensuring your workforce feels secure and valued.
Choosing the right Memphis group health insurance plan can make a big difference in employee satisfaction. Here are some popular options we help businesses set up:
Health Maintenance Organization (HMO): An HMO plan requires employees to select a primary care physician and get referrals for specialist services. It typically offers lower premiums and copays, making healthcare more affordable for employees, but limits coverage to in-network providers.
Preferred Provider Organization (PPO): A PPO gives employees the freedom to visit any healthcare provider, including specialists, without a referral. Although premiums and out-of-pocket costs may be higher, the flexibility and choice offered by PPOs can be highly attractive to a diverse workforce.
Exclusive Provider Organization (EPO): EPOs blend the cost savings of HMOs with some flexibility of PPOs. Employees must use a defined network of providers, but they don’t need referrals to see specialists. These plans are often priced competitively while offering decent provider access.
High Deductible Health Plan (HDHP) with Health Savings Account (HSA): These plans feature higher deductibles but lower monthly premiums. When paired with an HSA, employees can save pre-tax dollars for healthcare expenses. This is ideal for companies promoting consumer-driven healthcare choices.
Taylor Benefits Insurance can help your Memphis business evaluate the pros and cons of each option and select a group health plan that truly supports your employees and bottom line.
Successful companies know that employee benefits go beyond just health insurance. Here are other vital employee benefits we help businesses offer — each explained properly for full understanding:
Dental and Vision Insurance: Group dental insurance typically covers routine cleanings, exams, x-rays, fillings, and sometimes orthodontics. Vision insurance usually includes coverage for annual eye exams, glasses, and contact lenses. These benefits are crucial because they help employees maintain overall health, detect early signs of conditions like diabetes or hypertension, and avoid costly future medical issues.
Life Insurance and Disability Insurance: Life insurance cover provides a lump-sum payment to an employee’s family if the employee passes away, offering financial security during a difficult time. Disability insurance replaces a portion of an employee’s income if they are unable to work due to illness or injury, helping them maintain financial stability during recovery.
Retirement Plans (401(k), 403(b), etc.): A retirement plan helps employees save for the future while offering tax advantages. Many employers match contributions up to a certain percentage, providing an extra incentive for employees to save consistently. Retirement benefits are a key factor in attracting mid-career professionals who prioritize long-term financial planning.
Wellness Programs: Wellness programs promote healthy living through activities such as gym memberships, smoking cessation support, mental health resources, and regular wellness screenings. Encouraging healthy habits can reduce healthcare costs for employers and improve overall employee productivity and morale.
Paid Time Off (PTO) and Sick Leave: Offering ample paid leave, including vacation, sick days, and personal days, shows employees they are valued and trusted. PTO improves work-life balance, reduces burnout, and increases long-term employee loyalty.
Flexible Spending Accounts (FSA) and Health Reimbursement Arrangements (HRA): An FSA allows employees to set aside pre-tax money for medical expenses, reducing their taxable income. HRAs are employer-funded accounts that reimburse employees for healthcare costs. Both tools make healthcare expenses more manageable for employees while providing tax benefits for the employer.
At Taylor Benefits Insurance, we customize comprehensive employee benefits packages that include these options to ensure your company stands out as an employer of choice.
In Memphis, as is the case across the country, large companies have new rules to follow to comply with the ACA (Affordable Care Act) provisions. In most cases, the employers already offered their workers health insurance. Still, now it’s mandatory, and they must show that they comply with the policy requirements. For example, the subscriber’s share of the premium is limited, and every policy must meet quality standards for comprehensive coverage. Other significant changes include prohibiting insurers from denying coverage due to pre-existing conditions and allowing dependents to remain on a parent’s plan until they turn 26.
Every health insurance policy must cover at least 60 percent of the anticipated patient costs and incorporate these benefit areas:
Small companies are exempt from the ACA requirement to provide health insurance policies for their employees. However, some companies want to do so, even without a mandate. Offering insurance coverage may be challenging for these employers due to the cost that they face. The ACA created the SHOP (Small Business Health Options Program) to provide resources and guidance to these companies. Buying a SHOP plan is also the avenue for companies with 25 or fewer workers to determine whether they may qualify for a tax credit.
For companies that can’t offer insurance, another option is to sponsor a QSEHRA (Qualified Small Employer Health Reimbursement Arrangement), which can help workers pay for their medical expenses using pre-tax income.
Every year, you need more and more money saved away in order to cover the costs of healthcare insurance. For retirees, this can be a significant revelation once retired. After all, Medicare does not cover much beyond the basics. In your twilight years, you need the most comprehensive insurance that you can afford.
For many, this means looking to options beyond the state or federal exchanges, and even plans offered by insurance providers. You need a unique plan that best fits your health care needs. You need group insurance. Group insurance is more cost-effective, provides more coverage, and is broader than plans provided under Medicare or Obamacare.
Memphis employers must comply with several important healthcare regulations:
Affordable Care Act (ACA): Businesses with 50 or more full-time employees must offer affordable coverage that meets minimum value standards.
Employee Retirement Income Security Act (ERISA): Governs group health and retirement plans to protect employee interests.
HIPAA: Safeguards employee medical information and ensures the privacy of health data.
Taylor Benefits Insurance provides businesses with ongoing support and compliance services, reducing the risk of costly penalties and ensuring peace of mind.
When you partner with Taylor Benefits Insurance for your Memphis group health insurance and employee benefits, you get:
Tailored Solutions: No two businesses are the same — your benefits plan shouldn’t be either.
Expert Guidance: Over three decades of experience to help you make informed decisions.
Top Carrier Access: We work with a wide network of trusted insurance providers.
Annual Reviews: We proactively review your plan every year to ensure it still fits your needs.
Most businesses trust Taylor Benefits Insurance because we deliver real value, personalized service, and competitive advantage through smarter benefits planning.
Attracting and retaining the best talent starts with offering the best benefits. Whether you need to create a new Memphis group health plan from scratch or improve your existing offerings, Taylor Benefits Insurance is here to help.
Contact Taylor Benefits Insurance today for a free consultation and let’s build an employee benefits package that positions your Memphis business for long-term success!
In the United States, comprehensive supplementary insurance covers medical expenditures accrued after a patient is hospitalized or requires financial assistance from a healthcare provider. Tennessee residents are not required to have health insurance. However, all people are required by law to obtain health insurance. Tennessee, which has one of the highest enrollment rates in the country, uses the federal exchange for health insurance plans. The following are some answers to frequently asked questions about Tennessee health insurance.
Large group health insurance policies are the same around the country as they are in Memphis, Tennessee. Companies with 50 or more employees give their employees with the necessary security and benefits. Because some insurers may offer bulk discounts on such plans, the benefit of having a large group of employees covered by a health insurance plan at a reasonable price for a business is excellent.
To be classified as a small business group, a company must employ a particular number of people. Unfortunately, companies fail to recognize that they only need one qualified person. A small business health insurance plan can provide coverage for up to 50 employees. When you reach this level, you are eligible for large group health insurance.
mployees of Memphis, Tennessee businesses are eligible for a range of benefits. Among these advantages are:
Employees can choose from a few basic plans. You can tailor the insurance package you choose for your employees to meet their specific needs.
Insurance costs are split between businesses and employees. If your group insurance plan is special, you may be able to save money on it. Group health insurance rates often range between 70% and 90%, depending on the employee’s financial status. Employees who are unable to pay for their healthcare may be eligible for assistance.
Taylor Benefits Insurance Agency, BlueCross BlueShield of Tennessee and Cigna are among the top providers offering the best large group health insurance plans in Tennessee. Known for their comprehensive coverage and extensive networks, they are popular choices for businesses looking to provide quality healthcare benefits for their employees.
Group insurance rates for large groups in Memphis are determined based on factors such as employee demographics, group size, industry type, and past claims history. Insurers consider these variables to calculate competitive large group insurance rates in Memphis that meet the specific needs of each organization.
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