Miramar Group Health Insurance & Employee Benefit Plans

Miramar FL Large Group Health Insurance Plans

Large companies must offer health insurance that satisfies the ACA standards for essential benefits and affordability. Many of these businesses traditionally provided coverage but previously were not required to demonstrate compliance with these standards. The affordability threshold limits a subscriber’s share of the premium to 9.61 percent of their gross income. As the individual’s earnings increase, the allowable premium can also rise, so some companies charge higher-paid employees a larger share of the cost. However, an employer may give the workers more than one plan choice if at least one has a subscriber cost below the threshold. Other choices can cost more if they provide more coverage. Each health insurance plan is identified by a metal tier (bronze, silver, gold, or platinum) that describes the value.

A bronze plan is designed to absorb sixty percent of the healthcare expenses for a typical subscriber, who would be responsible for paying the remaining forty percent out of pocket. In contrast, a silver plan has a higher monthly charge but should cover seventy percent of expected charges. So, workers can choose to pay a higher premium if they expect they will have higher usage costs.

Miramar FL Small Business Health Insurance Plans

Small companies can look for health insurance plans on the SHOP platform created by the ACA. SHOP is the acronym for Small Business Health Options Program. It is available for companies that need help developing and administering health insurance programs. Tax credits are also available for firms with fewer than 25 workers.

Miramar FL Employee Benefit Plans and Employee Benefit Packages

Benefit packages typically include more than health insurance and PTO (paid time off.) In Miramar, Florida, employers are not required to offer paid sick time. However, many companies still do and potentially vacation time as well. It’s wise to add other benefits to the package to attract the skilled employees a company needs. MetLife’s 2022 Benefits Survey reported that employees care greatly about benefits. Nearly 75 percent of workers surveyed said that better benefits would encourage them to stay at their current job longer.

Employers know that workers often need help with financial planning and may consider offering life insurance, a retirement savings plan like a 401(k), and student loan payment help or tuition reimbursement. Employees also want dental and vision coverage, flexible scheduling, and the ability to choose remote work.

Group Health Insurance and Employee Benefits

Offering your employees a competitive group health insurance and employee benefits package is crucial if you have to recruit and keep the best candidates within your industry. It is not uncommon to find that employees that are sought after will have more bargaining power when negotiating their perks and benefits. Consequently, if potential employees have to decide between two job offers they will consider the employer who is offering benefits such as health insurance coverage as an employer of choice.

Who We Are

Taylor Benefits is a respectable group health insurance and employee benefits company operating in Miramar. We have been providing cutting edge employee benefits plans to employers in Miramar since our inception 30 years ago. Our team of insurance agents strives to stay up to date with the healthcare insurance reforms to ensure that we give you top-notch packages. We endeavor to understand your unique needs and the needs of your work force before crafting a custom plan that responds to those needs. Our licensed and experienced insurance agents are committed to helping you attract and keep top talent.