Top Group Health Insurance for Small Businesses in Montana
Group health plans have become increasingly popular among Montana (MT) employers over the last few years. Several factors have driven this growth. First, healthcare costs have been rising for both employers and individuals. By offering group health insurance, businesses can help their teams access quality medical services at affordable rates. Second, the job market in Montana is changing, with more companies vying for top-quality talent in cities like Billings, Missoula, and Bozeman.
A comprehensive benefits package often makes the difference in attracting—and keeping—high-performing employees. Third, many Montanans are focusing more on their overall well-being, including mental and physical health, and they expect employers to support these goals. Lastly, the challenges highlighted by recent health events have underscored the importance of quality healthcare coverage for everyone. All these factors have combined to push more MT businesses toward group health insurance solutions, benefiting both employers and employees through greater stability, peace of mind, and a more satisfied workforce.
Montana Group Medical Insurance & Employee Benefit Plans have a variety of options for individuals and families, and they include vital elements such as deductible amounts and payment options
Understanding Group Health Plans in Montana
A group health plan is a type of health insurance policy provided by an employer or organization to its members. The cost of these plans is typically lower than individual policies because the risk is shared among a group of people. In Montana, group plans can benefit companies of all sizes, from small local businesses to large corporations with multiple offices.
Cost-Effective Coverage: One major reason Montana employers opt for group health insurance is affordability. By pooling employees into a single plan, insurers can spread out the cost of healthcare claims. This often results in more competitive premium rates.
Improved Employee Satisfaction: When employees feel taken care of, they are more likely to remain loyal, stay motivated, and deliver their best work. Group health plans can help build an environment where everyone feels supported.
Tax Advantages: Employers providing group health insurance may qualify for certain tax breaks. In addition, pre-tax contributions can help both the company and employees save on overall healthcare costs.
Types of Group Health Insurance Plans
When you consider group health plans in Montana, it’s important to understand the different plan types. Each offers specific features and costs that may or may not align with your business goals:
Often combined with Health Savings Accounts (HSAs), which allow pre-tax contributions to help cover medical expenses.
Good for healthy employees who rarely visit the doctor but want coverage for major health events.
EPO (Exclusive Provider Organization)
Coverage is usually limited to in-network providers (except for emergencies).
May not require referrals for specialists.
Premiums may be moderate, but out-of-network care can be expensive.
POS (Point of Service) Plans
Hybrid of HMO and PPO models.
Employees need a referral from a primary care physician but may have the option to go out-of-network at a higher cost.
Some businesses in Montana also consider self-funded or partially funded plans, where the employer pays for claims directly and uses a stop-loss insurance policy to limit potential high costs. This can be a strategic way to save money if you have a relatively healthy workforce, but it carries extra financial responsibility.
Montana Large Group Medical Insurance Packages
Montana, like Georgia and other states, relies on the federal healthcare exchange for its marketplace. Still, it has created a reinsurance program to assist state insurers with managing the cost of high individual claims. The reinsurance program levies a fee on all major medical and disability solutions in Montana (excluding self-funded plans) to fund the program. Reinsurance has helped keep premiums down for those who purchase coverage through the exchange or independently. Our Georgia-based agents can provide access to these health solutions through our customer service portal or app.
The Affordable Care Act (ACA) requires large companies to offer healthcare insurance to their full-time, eligible workers. ACA rules eliminated restrictions on coverage for pre-existing conditions, which previously prevented people from obtaining care in some circumstances. As with our Georgia-based agents, our team can provide assistance in understanding the deductible amounts and payment options for these health plans.
The Affordable Care Act also requires insurance companies to allow dependents to remain on their parent’s policies until they reach the age of 26 and eliminate lifetime benefit caps. Policies issued in compliance with the Affordable Care Act must be affordable, meaning the premium paid by the subscriber is limited to 9.6 percent of their gross income for individual coverage. In addition, every policy must include these essential benefits:
Ambulatory patient services (outpatient care)
Emergency services
Hospitalization, including surgical and medical
Maternity and newborn care, including delivery
Mental health and substance use disorder services
Prescription drugs
Rehabilitative services and devices
Laboratory services
Preventative and wellness services, including chronic disease management
Pediatric services, including dental and vision care for children under the age of
Large group healthcare solution
Small businesses are exempt from the ACA requirement to provide small business medical insurance coverage. Still, they have resources to assist them in doing so. For example, suppose your business employees one hundred or fewer workers. In that case, you may be able to qualify for programs through the SHOP (Small Business Health Options) structure. Through our app, employers can easily access these resources and learn more about their options.
Small Business Healthcare Protection Plans in Montana
In addition, for even smaller employers, tax credits may ease the cost of administering new coverage. Our customer service agents can guide you through this process, ensuring that you get the maximum benefits for your employees and their families.
In Montana and elsewhere, small employers may choose to contribute to their workers’ healthcare costs by establishing a Qualified Small Employer Health Reimbursement Arrangement. These accounts can give small businesses a means to assist workers by facilitating their use of pre-tax funds for health care while avoiding the burden of administering a small business protection program.
Talk to your Taylor Benefits specialist about how these QSEHRAs work. Our expert agents in are ready to help you navigate your options, understand deductibles, payments, and other essential aspects of health solutions.
Medical coverage is considered a core benefit and is the most frequently provided, along with paid time off. Not surprisingly, these are the benefits most team members list first among priorities. However, a robust benefits program will include more.
Employee Benefits Beyond Medical Coverage
While medical insurance is a cornerstone of any group health plan, Montana businesses often choose to include additional benefits to create a more comprehensive package:
Dental Insurance: Covers routine check-ups, cleanings, and certain procedures, helping employees maintain oral health.
Vision Insurance: A cost-effective add-on covering eye exams, glasses, and contact lenses.
Life Insurance: A group life insurance offers financial security for employees’ beneficiaries in the event of a tragedy.
Disability Coverage (Short & Long-Term): Provides income support if an employee is unable to work due to injury or illness. There’s also the option for workers compensation.
Mental Health Support: Coverage for counseling, therapy, and other mental health resources, which is increasingly valued across Montana.
Wellness Programs: Encourages healthy habits through gym membership discounts, nutrition programs, or stress management resources.
Feel free to dial 800-903-6066 and get a free consultation on Group Medical Insurance & Workplace Provisions by simply stating your zip code. We offer support on a diverse range of topics, aiming to clarify any associated doubts.
Working with Taylor Benefits Insurance
When navigating the group health insurance landscape in Montana, Taylor Benefits Insurance serves as a reliable partner. Their expertise allows you to efficiently explore plan options and match them to your organization’s goals. Here are some advantages of working with a broker like Taylor Benefits:
Tailored Solutions: They evaluate your current and future needs to design a benefits package that aligns with both your budget and your employees’ well-being.
Market Research: They stay updated on changes in Montana’s insurance marketplace, so you don’t have to sift through endless carrier options on your own.
Negotiation Power: A broker works with multiple carriers, leveraging relationships to find competitive rates and terms.
Ongoing Support: From plan administration to resolving claim issues, having a broker means you have an advocate on your side.
Compliance Assistance: With regulations evolving, especially at the federal level under the Affordable Care Act (ACA), Taylor Benefits can help ensure your plan meets or exceeds legal requirements.
Montana Regulations and Compliance
Any employer offering group health coverage in Montana must stay on top of relevant regulations. At the federal level, rules like the ACA can affect whether an employer is required to offer health insurance and what that coverage must include. Generally, employers with 50 or more full-time (or full-time equivalent) employees must provide affordable, minimum-value health coverage or face potential tax penalties.
At the state level, Montana has its own guidelines that insurers and employers must follow. This can include regulations for small group plans (often for businesses with fewer than 50 employees) and how coverage is extended to family members or dependents. Partnering with an experienced broker can help you avoid penalties and ensure your plans are up-to-date with both state and federal laws.
How can Collective Healthcare Benefits help save costs for employers and crews alike?
Collective Health Insurance can help save costs for employers and staff in several ways:
Lower Premiums: Team medical protection typically offers lower premiums than individual health protection packages. This can help employers save money on providing health benefits to their workers.
Tax Benefits: Employers can also receive tax deductions for providing team healthcare protection, which can help offset the costs of offering health benefits.
Increased Negotiating Power: Collective medical coverage plans often have more negotiating power with healthcare providers, leading to lower costs for medical services and prescription drugs. This can help reduce overall healthcare expenses for both employers and employees.
Improved Workforce Retention: Offering group health insurance can help employers attract and retain top talent. Crews value health benefits and are likelier to stay with a company that provides comprehensive health coverage.
Preventive Care: Collective healthcare insurance plans often include coverage for preventive services, such as annual check-ups and screenings. By promoting preventive care, employers can help employees stay healthy and avoid costly medical expenses in the long run.
Get Started With Us Now
As Montana businesses evolve and compete for top talent, offering a well-thought-out group health plan is increasingly important. Employees value robust coverage that addresses medical, dental, vision, and even mental health services. These benefits not only help you stand out from other employers in MT but also foster a positive, productive, and stable workforce.
When you work with a knowledgeable broker like Taylor Benefits Insurance, you gain a strategic partner. They will help you find the best insurance carriers, tailor your group health plan to meet your budget, and ensure compliance with both federal and state regulations. Their support extends beyond policy setup, providing guidance on keeping your plan relevant and cost-effective as your business grows.
By investing in group health insurance, you show your employees that you genuinely care about their well-being. This investment pays off in employee loyalty, reduced turnover, and a more engaged team—benefits that matter to your bottom line as much as they do to your workplace morale. If you’re considering or re-evaluating a group health plan in Montana, exploring your options with Taylor Benefits Insurance is a step toward a healthier, happier, and more successful company.
Relevant Statistics
More than 80% of businesses offer team medical insurance to their employees.
Montana has seen a 15% decrease in the uninsured rate due to increased access to group healthcare solution.
Over 90% of residents covered by collective healthcare protection receive comprehensive coverage for preventative care and screenings.
Staff health coverage plans have an average employee satisfaction rating of 95%.
The rate of hospitalizations for preventable conditions has decreased by 25% since the implementation of collective health insurance programs in Montana.
We Conduct Yearly Audits and Ensure ACA Compliance
Rely on the reputed icon of Taylor Benefits to assist in ensuring that your plan abides by the law. Our insurance brokers have the experience, knowledge, and skillsets to handle healthcare reform and other issues that may arise throughout the duration of your health protection and employee provision programs. Give us a call today to learn more. Rest assured that after we help you come up with the perfect plan, we’ll provide you with a FREE quote!
Frequently Asked Questions About Healthcare Insurance and Employee Benefits
Student health insurance solutions are also available through large groups. People who cannot afford individual medical coverage can benefit from this health package. Other benefits include:
A large corporate medical coverage package is the best choice for businesses with over 50 employees in Montana. The key benefit of large-group solutions is that they offer a significant discount when you purchase them.
Student health insurance programs are also available through large groups. People who cannot afford individual medical coverage can benefit from this health solution. Other benefits include:
Healthcare strategy that is comprehensive
Refundable deductions
Insurance co-payments
Major medical expenses
Expenses not covered by insurance
Dental benefits and programs
The Health Savings Account (HSA)
Initiatives to promote wellness
Vision care and insurance
Coverage of prescription drugs
Having a preexisting condition
Enrollment in Medicare and Medicaid funded by employers
A perfect health program for your company depends on what you and your employees want and how much you are willing to spend. The following are four popular types of healthcare packages:
The “Health Maintenance Organizations” (HMOs) are health care organizations whose members receive health care services through a network of medical providers contracted with the organization. Most HMO plans require crew members to select a primary care physician (“PCP”) to handle the majority of their health care and refer them to specialists as needed.
An HSA-qualified plan is typically a PPO plan designed specifically for use with a Health Savings Account (HSA). HSAs are special bank accounts that allow participants to save money at pre-tax rates to use for future medical expenses. Due to their advantages for employers, Section 105 Healthcare Reimbursement Plans (HRPs) are often used instead of HSAs.
PPOs, or preferred provider organizations, are the most common protection programs. The insurance company will pay at the full level if they receive medical care from a doctor or hospital listed on the company’s preferred provider list.
With an indemnity package, members can choose their own doctors and hospitals. Insurers cover the remaining charges. A company may require them to pay upfront for some services and then apply for reimbursement from an insurance company.
A number of medical treatments and equipment are covered by health insurance solutions in Montana, including surgeries, doctor’s visits, and prescription drugs.
However, some healthcare services, such as plastic surgery, for instance, are not covered by most companies because it is viewed as unnecessary. Vision or dental services are not covered by most healthcare packages, so they must be purchased separately.
Regardless of the amount an individual contributes to company-sponsored medical coverage, everyone can make a contribution. In the United States, the typical person spends approximately three times more on healthcare annually. On average, this amounts to $3,240 per year, or $270 per month.
Written by 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.
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.
