- Providing world class service and value for employee benefit group plans since 1987
We are not locked into offering plans from a specific carrier. As an independent health care protection agency, we offer group health packages that do not rely on any specific carrier.
With regards to mandated inclusions to health care policies in New Hampshire, please see this resource from one of New Hampshire’s official websites for more information.
Call Taylor Benefits today for a free consultation. Learn which health care plans, policies, and laws work in your favor in the “Live Free or Die” state. We also offer free consultations and estimates via a personalized quote form for free and minimum participation is required.
The Affordable Care Act had a significant impact on the requirements for health coverage plans provided by large employers to their workforce. The Act also affected the coverage that insurers must include. All qualifying group programs must offer at least these services (called minimum essential coverage 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 19
In New Hampshire, insurers offer group coverage, and the services they are mandated to offer include:
Bariatric surgery for obesity and morbid obesity treatment
Bone marrow transplant and testing
Coverage for clinical trials
Off-label prescription drugs
Diabetes care management, including services and supplies
Durable medical equipment, including artificial limb and scalp hair prostheses
Reconstructive surgery following mastectomy (for all plans that cover mastectomy)
Small businesses (those with fewer than fifty full-time workers) don’t have a requirement under the Affordable Care Act to offer healthcare insurance, but they can if they choose to. The U.S. Bureau of Labor Statistics reports that half of the small companies provide medical protection through the company.
Many companies also pay a portion of the premium for the employees and sometimes for their dependents through family programs. The ACA created SHOP (Small Business Health Options) to assist these firms in creating and managing their healthcare programs. In addition, eligible companies may receive a tax credit to reimburse them for some of the costs involved in providing small business health insurance coverage.
The future of small business healthcare insurance is likely to see more flexibility and customization options for employers and employees. With the rise of technology and data analytics, providers can offer more tailored plans that meet the specific needs of each small business. Additionally, there may be an increase in the use of telemedicine and virtual care services to provide more convenient and cost-effective healthcare options. Overall, the future of small business health protection will focus on providing affordable, accessible, and personalized coverage for all team members.
Small businesses can find affordable healthcare insurance options through the state’s Small Business Health Options Program (SHOP). SHOP offers a range of options from leading assurance providers, allowing businesses to provide quality healthcare coverage for their crew members. With SHOP, small businesses can access tax credits to help offset the cost of premiums, making it easier to offer comprehensive health benefits to their workforce. Contact a SHOP representative today to learn more about how your small business can benefit from this program.
What are the main benefits of the Team Medical Protection plan for small businesses?
The benefits of the Team Health Protection program for small businesses include cost savings through collective rates, access to a wider network of healthcare providers, improved employee retention and morale, and compliance with healthcare regulations.
How does Corporate Health Coverage compare to individual healthcare policy plans regarding cost and coverage?
Collective Healthcare Protection typically offers lower costs and more comprehensive coverage than individual health insurance options. Employers often subsidize team plans, resulting in lower premiums for employees. Additionally, group programs usually have better coverage options and lower out-of-pocket expenses.
How does Collective Medical Insurance ensure the privacy and security of policyholders’ health information?
Group Medical Coverage ensures privacy and security by implementing strict data encryption, access controls, regular audits, and compliance with HIPAA regulations. Personal health information is only shared on a need-to-know basis.
How does Group Medical Benefits handle pre-existing conditions?
Team Health Insurance cannot deny coverage or charge higher premiums based on pre-existing conditions. Under the Affordable Care Act regulations, they must provide coverage for all health conditions, including pre-existing ones.
What is the process for adding new employees to an existing Corporate Healthcare Benefits package?
To add new employees to an existing Collective Health Insurance, the employer must submit the necessary enrollment forms and documentation to the provider. The new team members will then be added to the plan and provided with coverage details.
Ask your Taylor Benefits consultant for more information.
Developing an appealing benefits program for your staff depends on who your workers are and on your budget. Healthcare coverage and paid time off are usually the foundation of a program. New Hampshire doesn’t require paid time off, but many employers include some to motivate and reward the workforce. The state also lets the employer decide whether to offer unpaid time off for illness or holidays. If an employer allows either paid or unpaid leave, it must have a written policy describing the terms.
To add to the attraction for workers, the company may consider a retirement savings package. While these aren’t as common among small companies, workers value the opportunity to benefit from employer assistance with their retirement savings. There are reasonable options for establishing a 401(k) or IRA that your crews can contribute to for almost any company size. Supporting team members’ financial stability and wellness is a great way to enhance morale and deepen worker satisfaction.
New Hampshire operated in the federal exchange when it comes to dealing with the Affordable Care Act. The federal exchange is a federal marketplace that regulates the cost of insurance plans to individuals and groups in the healthcare market.
Individuals and groups that apply for ACA-compliant health care packages are able to apply for federal assistance to lower their financial obligations. This means that you can save money y by enrolling your employees in ACA-care today!
In addition, if your workplace has 50 full-time staff members or fewer, New Hampshire’s Small Business Health Options Program (SHOP) can offer your health care benefits that comply with federal health care protection standards. Affordable health care is within your reach!
Taylor Benefits understands the need for good, affordable, health care. With the introduction of the ACA, or Obamacare, we can provide it to New Hampshire residents and businesses. We can provide custom options that meet the unique needs of your workplace and your staff.
For more information on employment incentive packages offered in the state of New Hampshire, please see this resource from the New Hampshire Department of Administrative Services.
New Hampshire’s most frequently asked health protection questions are answered in the following manner:
For companies with over 50 employees, large-group health insurance is ideal. You may find that the health insurance plan offers coverage at an affordable price with a substantial discount as you use it. Among its many benefits are the following:
There are numerous sorts of health packages available, depending on whether you are seeking for individual or collective coverage. The four you must be aware of are:
The ideal option type for you and your employees is determined by what you and your workers desire and how much money you are ready to invest. Here’s a quick rundown of the four most common types of Hampshire healthcare plans:
The most frequent are PPO (Preferred Provider Organization) plans. In order for claims to be reimbursed at the highest level, employees insured by a PPO must seek medical care from doctors or hospitals on the insurance company’s preferred provider list.
HMO is an abbreviation for “Health Maintenance Organization.” HMO plans provide a wide variety of health care services through a network of providers that either contract with the HMO exclusively or agree to provide services to members. Crews enrolled in HMO must generally choose a primary care physician (“PCP”) to provide the majority of their health care and refer them to HMO specialists as needed.
Plans that qualify for a Health Savings Account (HSA) are primarily PPO plans. HSAs allow individuals to save money, pre-tax, for future medical bills. HSAs are often replaced by Section 105 Healthcare Reimbursement Plans (HRPs) because of their benefits to employers.
Indemnity options allow members to handle their own health care and go to whatever doctor or hospital they like. The company then pays a certain percentage of the total charges. Crew members may be asked to pay for some services in advance and then seek for reimbursement from their insurance carrier.
New Hampshire healthcare packages at most workplaces cover prescription medication, doctor’s appointments, and surgeries.
Plastic surgery, for example, is not covered because it is considered unnecessary. Additionally, dental and vision coverage is not covered by most health assurance programs, so these two services must be obtained separately.
Regardless of their income, team members can contribute to team health protection programs. Employees pay around $3240 in healthcare each year, which is roughly three times less than the average cost in the United States.
Group health insurance is a policy purchased by an employer to cover medical expenses for employees and their dependents. It typically provides a cost-effective way to offer healthcare benefits to a group of people. Group health insurance plans often offer more comprehensive coverage at lower rates than individual plans.
Group insurance is typically offered through an employer or organization, covering a group of people under one policy. Individual insurance is purchased independently by an individual. Group insurance premiums are often lower, and coverage may be more comprehensive, but individual insurance offers personalized coverage options tailored to individual needs.
The main advantage of group insurance for businesses in New Hampshire is cost-effectiveness. By pooling employees together, businesses can secure better rates for health insurance coverage compared to individual plans. This helps companies save money while still providing valuable benefits to their employees.
Employees, along with their dependents, are typically covered under a group health insurance plan. Employers may also extend coverage to retirees or part-time workers. Group health insurance plans offer benefits to a group of individuals, providing comprehensive coverage at lower costs compared to individual plans.
In New Hampshire, a large group for health insurance typically consists of 51 or more employees. These larger groups often have access to more comprehensive coverage options and competitive rates compared to smaller businesses. Understanding what is considered a large group for health insurance in New Hampshire can help businesses make informed decisions when selecting insurance plans.
Group health insurance is the most commonly used type of insurance for group plans. It provides coverage for a group of people, typically offered by employers to their employees. Group health insurance helps spread the risk and lowers costs compared to individual plans.
In a group health policy, cosmetic procedures, elective treatments, and experimental therapies are typically not eligible for coverage. These exclusions are common in group health plans to control costs and ensure coverage for essential medical services. It’s important to review the policy details to understand what is covered.
In group health insurance, the main difference between a PPO and an HMO lies in their networks. HMOs require members to choose a primary care physician and obtain referrals for specialists, while PPOs offer more flexibility with out-of-network coverage and do not require referrals.
In New Hampshire health insurance, the main difference between a small group and a large group lies in the number of employees covered. Small groups typically consist of 1-50 employees, while large groups have 51 or more employees. Premium rates, plan options, and regulations may vary based on group size.
The best health insurance plan for small businesses in New Hampshire typically offers comprehensive coverage at competitive rates. Some popular options include Taylor Benefits Insurance, Anthem Blue Cross Blue Shield, Harvard Pilgrim Health Care, and Cigna. It’s essential to compare plans and consider factors like premiums, deductibles, and network coverage when selecting the right plan for your business.
Offering group health insurance in New Hampshire can provide tax benefits for employers, including deductions for premiums paid and potential savings through pre-tax contributions. By offering this benefit, businesses can attract and retain top talent while also enjoying tax advantages.
In New Hampshire, failing to provide mandatory benefits can result in penalties such as fines or legal action. Employers must adhere to state laws requiring benefits like workers’ compensation and unemployment insurance to avoid facing these consequences. Noncompliance can lead to financial repercussions and potential legal issues.
In New Hampshire health insurance plans, options for dental and vision coverage typically include standalone plans or as add-ons to comprehensive health insurance policies. Some providers offer specific dental and vision plans, while others may include these benefits as part of their overall coverage options.
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.
We’re ready to help! Call today: 800-903-6066