Taylor Benefits Insurance has more than two and a half decades of success creating custom group insurance plans for our clients. As a result, we understand the needs and priorities of groups seeking healthcare, no matter what state the group is in.
While our plans actively leverage current market offerings, they are also unique and designed to provide value to each client. We consider what works and doesn’t work within the marketplace and provide a customized proposal for services to our clients based on their preferences.
We provide the following options to clients when writing their employee benefit plans
As an independent agency offering custom-designed health insurance plans, Taylor Benefits Insurance is not limited by insurance plans or carriers operating in the state of North Dakota. We are independent, and our group healthcare insurance plans are not reliant on any one carrier or plan. Because of this flexibility, we can offer our clients a wide range of healthcare options that might not be available to them using the state healthcare exchange or directly from an insurance provider.
Contact Taylor Benefits Insurance for free estimates for your group insurance plan. You are under no obligation to purchase a plan from us. We provide these estimates free of charge, so you can see the advantage of doing business with an independent insurance agency.
North Dakota’s large employers have several choices when determining the best way to satisfy their obligation to provide affordable health insurance coverage per the ACA. As is the case elsewhere, many opt for preferred provider organizations, health maintenance organizations, and point-of-service structures. In addition, some businesses offer employees a choice between two or more to allow for individual preferences.
As a result, the employee might pay a different premium depending on the selection. Still, at least one available option must meet the affordability standard (less than 9.12 percent of gross income for individual coverage.) Taylor Benefits Insurance is here to advise you on the best plans for your team.
Coverage must include at least ten of the following benefits:
Small businesses striving to provide quality health insurance to their employees may want to visit the ACA SHOP marketplace. SHOP (Small Business Health Options Program) is designed to assist small employers that want to offer health or dental coverage to their workforce.
SHOP is for businesses with up to fifty workers, including the owner. The employer can purchase insurance through the platform, from a broker, or directly from an insurer. The SHOP website explains employee eligibility plus the potential tax credit for companies that start offering coverage.
North Dakota small businesses unable to offer health insurance can assist with their employees’ healthcare costs by creating a Qualified Small Employer Health Reimbursement Arrangement. These accounts allow employers to contribute non-taxed money to an employee’s expenses, including employees’ premiums and copayments, for qualified plans.
Employer studies show that workers consider benefits plans as a significant factor when evaluating job offers. If your company is working hard to recruit and retain top talent in North Dakota, a healthy benefits package is a tool that can help. Health insurance is a good foundation, and employees also want to receive paid vacation and sick leave.
If you can add some optional benefits, consider looking next at dental and vision coverage and a retirement savings plan like a 401(k). These are usually near the top of employees’ wish lists and help elevate the workforce’s financial security. Again, your Taylor Benefits Insurance specialist can help you decide how to create a package that will increase your appeal as an employer.
When the Affordable Care Act (ACA) was enacted, North Dakota joined the federal exchange. As a result, North Dakota offers eligible marketplace plans, just like every other state that joined the exchange. However, you should inquire with an independent insurance agency like Taylor Benefits Insurance before signing up for a health plan through the federal exchange. Premiums for marketplace plans are rising, and even the basic plans may become TOO expensive for some. You might be surprised to find a more affordable option using a broker like Taylor Benefits.
At Taylor Benefits Insurance, we thoroughly research all the pertinent policies, laws, mandates, and requirements for group insurance plans as they relate to your wants and needs for group healthcare insurance. We also research your industry to view similar plans and policies. Our goal is to provide you with the coverage you need at the price you want. Contact us today to learn how Taylor Benefits Insurance can work for your group.
To learn more about the current state of North Dakota’s insurance plans as offered on the federal exchange, please see this resource from the North Dakota Insurance Department.
Group plans are contracted for by organizations and offered to their members or workers as part of a larger health insurance package. Because these plans are only for groups, individual consumers can’t purchase the same coverage. In many cases, at least 70% of the eligible participants must sign up for the health plan to take effect. Because every plan and insurer is different, companies have a wide variety of available policies and prices to consider.
These are some of the most well-known providers of large-scale group health insurance.
The following companies offer plans that may be suitable for smaller businesses:
While offering excellent benefits is a great way to distinguish your company from the competition, it’s not always possible to offer every potential benefit. You can share the cost of health insurance with your employees as long as their premium share does not exceed 9.12 percent of their gross income. Some benefits are low-cost and can be added with little overall expense. The benefits choices may include these:
In North Dakota, employers pay an average of 83% of the policy expense for individual employees. That equates to an average employer contribution of $5959 yearly per worker.
The average cost of family coverage is over $20,000 per year, and employers often contribute to the dependent coverage as well.
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