Anyone in need of group health insurance or employee benefit plans can come to Taylor Benefits Insurance Agency to find the right group benefit plans and programs to keep their employees happy and in good care. Through our network, we can find the right wellness programs and services and benefit packages to appease all your staff members. Not to mention, we are able to negotiate the cost for services with the insurance agency that provides the best options for your company.
Companies choosing a group insurance plan for a large business in Moreno Valley, California, can offer their workforce an excellent benefit without overspending their budget. They can do this by choosing a plan that includes the needed coverage while sharing the responsibility for cost with the employee.
How does that work? For example, suppose the employer needs to control spending per employee but wants to allow workers to choose between a PPO and an HMO. A PPO (preferred provider organization) may have a higher monthly premium and co-insurance requirement than an HMO (health maintenance organization) because the PPO option includes out-of-network service access. In this scenario, suppose the cheaper plan costs $7000 per worker annually, and the more expensive one costs $9,000. To be equitable, the employer might contribute a specific amount with employees paying the balance. Employers can allow workers to make those payments by payroll deduction using pre-tax income, which reduces the tax owed and saves money for both the employee and employer. Consult your Taylor Benefits Insurance specialist for details.
Small companies may believe they can’t afford to sponsor health insurance for their workers, and the ACA doesn’t require them to do so if they employ fewer than fifty. If they want to help anyway, one option is to offer an ICHRA (individual coverage health reimbursement arrangement). These accounts allow companies to provide pre-tax funds to employees to pay for personal coverage. The employee must enroll in a qualified insurance plan, according to the ACA standards, but can obtain it through the marketplace or a broker. Employers can't offer both health insurance and an ICHRA, just one or the other. Also, they must make it available to every employee. On the other hand, the company decides how much to contribute, if anything.
Aside from compensation, one way that employers can compete to attract talented employees is by offering a comprehensive benefits plan. The foundation often starts with health insurance, particularly for companies required by the ACA to provide the coverage. Beyond health coverage, employees’ wish lists usually rank paid time off for vacation, holidays, and illness at the top. California companies must provide paid sick time and family leave but don't have to offer paid vacation time or holidays.
Other benefits that can offer a competitive advantage include:
One benefit that both employees and employers appreciate is a program that assists workers in identifying and managing health issues. These offerings include health screenings, risk assessments, and health enhancement incentives. Such offerings can help workers stay healthy, which is a win for everyone.
Dial 800 -903-6066 and get free consultation on Moreno Valley Group Health Insurance & Employee Benefit Plans
Aside from the plans, programs and benefits you can take advantage of through one of Taylor Benefits’ insurance agents, you can expect consulting, auditing services and training advice from our own staff members. We will provide you with the best overall care, making sure that your employees’ needs are met while keeping your financial limitations in mind.
As you consult and begin planning with one of our own, we will make sure that your company’s health and benefit plans meet the requirements and standards of the Affordable Healthcare Act. We will also provide training to your management so that they can properly explain your company’s new healthcare and benefit programs to employees once everything has been put together accordingly.
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