Michigan Group Health Insurance & Employee Benefits Plans

Michigan Large Group Health Insurance Plans

The Affordable Care Act (ACA) requires large employers to offer affordable large group health insurance coverage to their eligible employees. The employee’s premium can’t be higher than 9.12 percent of the worker’s gross pay for it to satisfy the affordability standard. There is no threshold set for affordability for dependent coverage. Also, the insurance coverage must be designed to cover at least sixty percent of the standard worker’s health and medical needs and include these components:

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

If the coverage meets those specifications, it can take the form of a preferred provider organization, health maintenance organization, indemnity program, or point-of-service plan. Many times, the company will offer a choice and funding options to the workers.

Michigan Small Business Health Insurance Plans

While small businesses (with fewer than fifty employees) aren’t required to offer health insurance coverage to their employees, they may choose to. Health coverage is a highly-desired benefit for employees and potential recruits.

The U.S. Bureau of Labor Statistics estimates that approximately half of the employers with fewer than fifty workers provide small business health insurance through the company. However, some of these workers choose to get their small business coverage from another source, so the enrollment numbers for small businesses are lower. It’s helpful to know that small firms can find assistance in establishing and administering small business health plans and funding options through programs created in conjunction with the Affordable Care Act.

Taylor Benefits Insurance Consultant has excellent resources for information and support.

Michigan Employee Benefit Plans and Employee Benefits Packages

Companies with fifty or more workers must provide them with paid sick leave in Michigan. Employees can accrue one hour of paid leave for every 35 hours they work, up to forty hours annually. Employees must be allowed to carry unused time over to the next year unless the employer provides the time as a lump amount at the beginning of the year instead of using an accrual method. Michigan does not require any paid vacation or holiday time. Still, if the employer offers paid vacation or personal leave, it can provide this time in place of paid sick time.

In addition to paid time off and insurance, Michigan employees prioritize retirement savings support, optional insurance (like disability, vision, dental, and life insurance), tuition assistance, and flexible scheduling policies.

Michigan Group Health Insurance & Employee Benefits Plans

Taylor Benefits has been operating across the great state of Michigan for over twenty years.  Our expertise regarding Michigan insurance requirements and federal standards makes us the leading provider in all areas from Detroit to Flint to Kalamazoo and everything in between. We pride ourselves on offering the best healthcare coverage at rates that are attractive to our members statewide. Our services include the following:

Because Taylor Benefits is an independent agent, we have a unique ability to create customized plans and policies by drawing from a large variety of traditional insurance providers.  This ensures we can always offer the best prices and guarantee comprehensive coverage for your employees or small groups.  We want to help you remain in compliance with federal and state law while still protecting your bottom line.

Michigan’s healthcare system is set up differently than those in most states, so we make it our mission to stay abreast of any changes, ensuring all policies we offer always stay in compliance.  As a business owner, having that peace of mind means you don’t have to worry about insurance regulations, and you can focus on your day-to-day operations.

At the end of the day, we will help save you money, manage claims, expenses, and deductibles and help you decide the best health plan for your company.