Norfolk Group Health Insurance & Employee Benefit Plans

Top rated Norfolk group health insurance and employee benefit broker

Norfolk Group Health Insurance and Employee Benefits

Norfolk, a city in Virginia, has more than 8,000 highly skilled workers exiting the military annually. The unemployment rate stands at 5.4%. Employers in this city are constantly working towards maintaining their work force. Happy employees are any employer’s best investment. Group health insurance and employee benefits packages are one of the things that keep employees happy, healthy, productive and motivated.

Group health insurance and employee benefits

While you are not obligated by law to provide group health insurance and employee benefits in Norfolk, failing to offer employee benefits could be hurting your business. You just might be losing money in recruitment and training as most of your employees leave for your competition for the benefits offered. The best employees will often demand for more from employers hence the need to infuse creativity to your recruitment and retention strategy.

Norfolk VA Large Group Health Insurance Plans

Large companies in Norfolk, VA, are obligated to offer health insurance coverage to their employees due to provisions of the Affordable Care Act. The Act defines businesses with fifty or more employees as “large,” which means they are subject to the requirement. The ACA standards for acceptable policies include coverage of essential benefits and affordability for subscribers. The benefits that every insurance plan must incorporate are:

  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
  11. Norfolk large group health insurance

Furthermore, for the plan to be considered affordable, the premium share can’t exceed 9.12 percent of the subscriber’s gross income.

Norfolk VA Small Business Health Insurance Plans

SHOP stands for the Small Business Health Options Program, created by the Affordable Care Act, to help smaller companies find health insurance resources for their workers. Any company with up to fifty employees can use SHOP to investigate plans and determine if they qualify for tax credits and other support.

Also, your Taylor Benefits Insurance consultant is knowledgeable about SHOP eligibility and can help you navigate the rules. SHOP options help you give your workers coverage or even more than one to choose from, and you can also include dental coverage if desired. Since the ACA mandate doesn’t cover small employers, participation is voluntary, but insurance can be a great way to attract top recruits.

Norfolk VA Employee Benefit Plans and Employee Benefit Packages

When a business wants to develop an appealing benefits package, they often start with the basics like health insurance, paid time off, and retirement assistance. These are all crucial for a benefits package. Then, companies can add specific extras that may appeal to their employee base. For example, recent college graduates usually appreciate help with student loan debt. Matching student loan payments is a popular way to help workers who feel unable to contribute to their retirement plans. On the other hand, parents may prefer help with finding and paying for childcare or adding dental and vision coverage.

Some benefits don’t cost much. For example, currently, many employees want flexible hours and remote work options. Depending on how your company functions, allowing team members to alter their schedule or work in a hybrid office/home location might not carry a financial cost. Potentially, you could reap the reward of a motivated and dedicated team.

Dial 800-903-6066 and get free consultation on Norfolk Group Health Insurance & Employee Benefit Plans

Who we are

Taylor Benefits Insurance agency has been a trusted group benefit advisor to many companies and businesses in Norfolk. We understand the challenge you are facing of having to balance employee needs and your bottom line. Therefore, we craft for you benefit plans that promote a sustainable business. We have crafted unmatched benefit plans for businesses and employers in Norfolk over the past 30 years. We strive to create a plan that is not only affordable but also attractive to current and future employees. We work towards attaining great coverage for low premiums.

Insurance Products By Taylor Benefits

Our range of benefit plans that you can choose from include the following:

  • Employer sponsored benefits and health plans
  • Health Maintenance Organization (HMO) plans
  • Preferred Provider Organizations (PPO) plans
  • Group managed care and indemnity plans
  • Employee health savings accounts (HSA)
  • Group medical and dental insurance
  • Flex spending and health reimbursement accounts

Are you looking for a Norfolk Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

We customize a plan that works for you by combining some of the options to give a comprehensive and competitive benefits plan that will take care of your current employees and attract new employees to your company.

Why Taylor Benefits?

We are an independent insurance carrier with strong ties to some of the best insurance carriers in Norfolk. We leverage our expertise and experience to negotiate flexible plans that respond to your needs. Our group health insurance and employee benefit plans are unique yet quite attractive. We customize your plans to create affordable health and employee benefits while taking into consideration your bottom-line and employee needs.

Relevant Statistics

  • Over 90% of businesses in Norfolk offer group health insurance coverage to their employees.
  • The average annual premium for group health insurance in Norfolk is $6,400 per employee.
  • Norfolk group health insurance plans provide coverage for a variety of medical services, including prescription drugs, hospitalizations, and preventive care.
  • Approximately 85% of employees in Norfolk with group health insurance receive employer contributions towards their premiums.
  • Group health insurance plans in Norfolk typically have a deductible of around $1,000 and an out-of-pocket maximum of $3,000 per individual.

General Facts

  • Norfolk offers a variety of group health insurance plans for residents and employees.
  • Group health insurance typically provides coverage for a group of people, such as employees of a company or members of an organization.
  • These plans often offer benefits such as hospitalization, prescription drugs, and preventive care.
  • Norfolk group health insurance plans can be customized to meet the specific needs and budget of the group.
  • Employers in Norfolk may offer group health insurance as part of their employee benefits package to attract and retain talented individuals.

Get In Touch

We offer different benefit plans depending on your needs. Get in touch with us if you have any questions regarding our group benefit plans. Our agents will be happy to provide a free consultation to review your business needs and offer you a competitive benefits plan that suits your needs in Norfolk. Call us today on 800-903-6066.

Written by Todd Taylor

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.

We’re ready to help! Call today: 800-903-6066