Montgomery Group Health Insurance & Employee Benefits Plans

Table of Contents

1. Montgomery Group Health Insurance and Employee Benefits
2. Group Health Insurance and Employee Benefits
3. Who We Are
4. Insurance Products By Taylor Benefits
5. Why Taylor Benefits?
6. Contact Us
7. Montgomery large group health insurance

Montgomery Group Health Insurance and Employee Benefits

Montgomery, AL, is home to 200,000 residents, making it the second-largest city in Alabama. Montgomery is over 200 years old and was at the center of the Civil Rights movement through the 1960s and beyond. The city enjoys a skilled and educated labor pool, but competition for workers is tight.

Employers in Montgomery have to do more than offer a fair salary; they also need to provide qualified health plans to attract the workers they need. Learn more about employee benefit packages in Montgomery.

Montgomery, AL, Large Group Health Insurance Plans

Offering health insurance to employees is frequently considered essential for large companies competing for workers in major metropolitan areas like Montgomery. Following the passage and implementation of the Affordable Care Act, large companies must provide coverage for most workers or pay a penalty. Insurance must meet standards of affordability and minimum essential coverage.

Employees with an income of between 100% and 150% of the federal poverty level may qualify for a zero-dollar premium silver plan.

The affordability standard prohibits the premium from absorbing more than 9.61 percent of the employee’s gross income. That calculation doesn’t consider the price for dependent coverage, just the price for the individual.

Minimum essential coverage standards mean that the plan must include all the following:

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

However, insurance plans can provide access with high deductibles and copayments and still comply with regulations.

Montgomery, AL, Small Business Health Insurance Plans

It’s an interesting anomaly that while small companies are less likely to provide healthcare coverage for their workforce, those who offer it typically pay a higher percentage of the premium. Thirty percent of workers in small firms pay nothing toward the cost of insurance, compared to five percent for large companies.

Small companies (with fewer than fifty full-time employees or the equivalent) don’t have to provide insurance under the Affordable Care Act. However, tiny organizations (less than 25 workers) can take advantage of available support in the form of tax credits and a special market for their insurance needs.

While companies with fewer than fifty workers do not need to offer health insurance, if they choose to do so, the coverage must comply with the minimum essential requirements as established.

Montgomery AL, Employee Benefits Plans and Employee Benefits Packages

Employers interested in upgrading their employee benefits package to enhance their appeal often look for low-cost ways to stand out from the crowd. One way to add interest is by considering the “voluntary benefits.” These are optional items that the employer often contributes little or nothing toward. Still, the employee gains a discount due to the size of the potential pool of participants.

Examples of these benefits include vision coverage, legal plans, pet insurance, long-term disability and long-term care, and discounts for other services like communications, fitness centers, and more. Some can be paid for with pre-tax income, while others may be made more convenient with a payroll deduction.

Group Health Insurance and Employee Benefits

Businesses in Montgomery that want to upgrade their recruiting and retention of employees may want to offer an enhanced benefits plan, including medical plans. Employees are more productive and more loyal when their employer provides insurance and benefits.

Some of the packages to look out for in group coverage plans include medical care, dental insurance, vision insurance, mental health, Flexible Spending Accounts, and life insurance.

Call 800-903-6066 for a free consultation about Group Health Insurance and Employee Benefits Plans.