Memphis Large Group Health Insurance & Employee Benefit Plans

Memphis group health insurance plans

Independent agencies like Taylor Benefits Insurance write the best, most comprehensive group healthcare insurance plans. Our plans are not in competition with plans offered on the state or federal exchanges, nor are they in competition with plans offered by insurance providers in your area. All of our plans are unique to better serve our clients who purchase group healthcare insurance plans.

We have more than 25 years of experience writing custom group healthcare insurance plans. Each plan is tailored to the group requesting it. If you find the plans offered in your area to be unsuitable for your healthcare needs, contact Taylor Benefits Insurance today to learn more about the benefits of group healthcare insurance plans.

Dial 800-903-6066 and get free consultation on Memphis Group Health Insurance & Employee Benefit Plans

Memphis TN Large Group Health Insurance Plans

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:

  1. Ambulatory patient services (outpatient care)
  2. Emergency services
  3. Hospitalization, including surgical and medical
  4. Maternity and newborn care, including delivery
  5. Mental health and substance use disorder services
  6. Prescription drugs
  7. Rehabilitative services and devices
  8. Laboratory services
  9. Preventative and wellness services, including chronic disease management
  10. Pediatric services, including dental and vision care for children under the age of 19

Memphis TN Small Business Health Insurance Plans

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.

Memphis TN Employee Benefit Plans and Employee Benefit Packages

A good employee benefits package may have several components, starting with health insurance. While a small company may have limited plan options, larger companies may provide a range of coverage choices.

The next most often requested benefit is typically paid time off. Employers may grant workers various amounts of time off for illness, vacation, and holidays. Tennessee does not require employers to offer paid time off, but workers may be entitled to unpaid time for medical issues and family leave.

Companies may want to add other benefits including the following:

  • Vision and dental insurance
  • Tuition reimbursement
  • Flexible schedules
  • Remote work arrangements
  • Wellness programs, including fitness memberships
  • Retirement savings support

Benefits Offered Under Our Plans

The following health benefits are offered in our plans.

These benefits are more than enough for many people. However, if you require special healthcare benefits, we can help you seek the care you need with a customized group healthcare insurance plan.

Typical Problems with Group Insurance in Memphis

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 group health benefits and employee insurance plans

Taylor Benefits Insurance Can Help You

All of our plans are unique and custom-written to more accurately reflect the healthcare needs of our group clients. We do not believe in offering cookie-cutter plans like most insurance providers do. Our plans are also much more stable than any insurance plan offered under Obamacare on the state or federal exchange. We provide the stability, comprehensiveness, and affordability you need when it comes to group healthcare. We can do all this because we are an independent agency that is not in competition with anyone else.

Are you looking for a Memphis Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

Relevant Statistics

  • Over 90% of businesses in Memphis provide group health insurance options for their employees.
  • The average monthly premium for a group health insurance plan in Memphis is $320 per employee.
  • Approximately 75% of residents in Memphis are covered by a group health insurance policy.
  • More than 80% of group health insurance plans in Memphis offer dental and vision coverage as well.
  • The average deductible for a group health insurance plan in Memphis is $1,200 per year.

General Facts

  • Memphis Group Health Insurance provides healthcare coverage to a group of people, such as employees of a company or members of an organization, in the city of Memphis.
  • It offers a range of health insurance plans and options tailored to meet the needs of different groups and individuals.
  • The coverage typically includes medical services, hospital stays, prescription medications, and preventive care.
  • Memphis Group Health Insurance helps protect individuals and families from high healthcare costs by sharing the financial burden.
  • It often provides access to a network of doctors, specialists, and healthcare facilities for effective and efficient medical care delivery.

What is considered a large group for health insurance in Memphis?

In Memphis, a large group for health insurance is typically defined as having 50 or more employees, according to state and federal guidelines. Employers with large group health insurance in Memphis may benefit from better coverage options and cost savings.

What is the difference between private health insurance and group health insurance?

Private health insurance is purchased individually, while group health insurance is employer-sponsored. Group plans typically offer lower premiums and broader coverage compared to private plans. Understanding the differences between private vs group health insurance can help individuals choose the best option for their healthcare needs.

Which company offers the most comprehensive large group health insurance?

Taylor Benefits Insurance Agency, UnitedHealthcare, Aetna, and BlueCross BlueShield are among the top companies that offer the most comprehensive large group health insurance. With extensive coverage options and large provider networks, these companies are known for providing quality healthcare benefits for organizations with a large number of employees.

How good is the healthcare system in Tennessee?

The healthcare system in Tennessee is known for its quality of care and accessibility, but faces challenges in terms of patient outcomes and disparities in healthcare access. Efforts are being made to improve overall healthcare quality and address these issues within the Tennessee healthcare system.

What is a large group health insurance plan, and how does it work?

A large group health insurance plan is designed for companies with 50+ employees, pooling risk to provide lower premiums and better coverage options. This type of plan offers comprehensive benefits and cost savings for both employers and employees. For more information, search ‘large group health insurance definition’.

What is the difference between small group and large group health insurance?

Small group vs large group health insurance differ in the number of employees covered, with small groups having under 50 employees and large groups having 50+. This impacts pricing, risk assessment, and plan options available to each group size.

How do you determine group size for health insurance eligibility in Memphis?

Group size for health insurance eligibility in Memphis is determined by the total number of full-time employees, including equivalents. This classification as a small or large group impacts eligibility for different health insurance options in the area.

What are the advantages of a large group health insurance plan for businesses in Memphis?

Large group health insurance benefits in Memphis offer businesses lower premiums, broader coverage, and improved plan flexibility. With a larger risk pool, companies can access more competitive rates and better options for their employees, making it a cost-effective and comprehensive choice for businesses in the area.

Why is large group health insurance generally cheaper than individual health insurance?

Large group health insurance is generally cheaper than individual health insurance due to cost advantages. By spreading risk across more employees, large group plans can offer lower per-person premiums, making them a more cost-effective option for employers and employees alike.

How are group insurance rates determined for large groups in Memphis?

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.

What factors influence the cost of large group health insurance premiums in Memphis?

Several factors influence the cost of large group health insurance premiums in Memphis, including group size, average age of employees, industry type, location, and claims history. These variables impact the overall pricing structure for large group health insurance premiums in Memphis.

Who has the best large group health insurance plans in Tennessee?

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.

The Taylor Benefits Promise

Contact Taylor Benefits Insurance today to learn more about the benefits of group healthcare insurance plans. Retiring should not be stressful. Nothing is more relaxing than knowing that your healthcare needs are taken care of as you enjoy your retirement.

We can provide you with a free estimate so you can see the difference for yourself. There is no obligation to sign up for a plan, and no payment is necessary in order to receive an estimate. Let’s make healthcare affordable again with the power of group healthcare insurance plans!

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Memphis, TN

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.

How Do Large Group Health Insurance Plans work in Memphis, Tennessee?

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.

In Memphis, Tennessee, What Is Considered a Small Business Group for Health Insurance Plans?

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.

What Are the Different Types of Benefits Offered in Memphis, Tennessee?

mployees of Memphis, Tennessee businesses are eligible for a range of benefits. Among these advantages are: 

  • Vision Insurance 
  • 401k 
  • Long Term Care 
  • Section 125 Cafeteria 
  • Life Insurance 
  • Retirement and Pension Plans
  • Health Insurance 
  • Vacation Options
  • HSA 
  • Dental Insurance 
  • Affordable Care Act 
  • Short- And Long-Term Disability Insurance 

Employees can choose from a few basic plans. You can tailor the insurance package you choose for your employees to meet their specific needs.

What Percent of Health Insurance is Paid by Employers?

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.

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.



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