- Providing world class service and value for employee benefit group plans since 1987
Taylor Benefits has more than two and a half decades of success creating custom collective 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 programs
As an independent agency offering custom-designed healthcare protection packages, Taylor Benefits is not limited by insurance plans or carriers operating in the state of North Dakota. We are independent, and our group healthcare coverage 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 for free estimates for your group protection package. 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 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 protection 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 assurance 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 the state, a healthy benefits package is a tool that can help. Healthcare coverage 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 program 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 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 packages, just like every other state that joined the exchange. However, you should inquire with an independent insurance agency like Taylor Benefits before signing up for a health plan through the federal exchange. Premiums for marketplace plans are rising, and even the basic programs 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, we thoroughly research all the pertinent policies, laws, mandates, and requirements for group protection plans as they relate to your wants and needs for group healthcare coverage. We also research your industry to view similar programs 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 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 coverage package. Because these packages 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 program to take effect. Because every plan and insurer are 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 protection.
The following companies offer programs 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 protection 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.
Group health insurance is a type of health coverage that is provided by an employer or organization to its employees or members. It typically offers a wider range of benefits at a lower cost compared to individual health insurance plans. Group health insurance helps to protect individuals against high medical expenses and provides access to quality healthcare services.
Group health insurance in North Dakota works by employers purchasing a policy to cover a group of employees. The employer typically pays a portion of the premium, and employees may have the option to contribute as well. Coverage options, costs, and benefits vary based on the specific plan chosen.
In North Dakota, the minimum participation requirements for group health insurance typically require a certain percentage of eligible employees to enroll in the plan. This threshold is usually around 75% of eligible employees to ensure a balanced risk pool and affordable premiums for all participants.
In North Dakota, businesses can choose from various group health insurance plans, including HMOs, PPOs, and POS plans. These options offer different levels of coverage and provider networks to meet the needs of employees. Employers should evaluate each plan’s benefits and costs to determine the best fit for their workforce.
In North Dakota, the cost of group health insurance varies depending on factors like the number of employees, coverage options, and the insurance provider. On average, group health insurance can range from $300 to $800 per employee per month. Contact insurance providers in North Dakota for specific quotes.
Small businesses in North Dakota can offer group health insurance by partnering with insurance brokers or agents who specialize in small group plans. They can also explore options through associations or chambers of commerce for group health coverage. Understanding state regulations and requirements is key for compliance.
Offering group health insurance for employers in North Dakota can help attract top talent, improve employee retention, and boost overall morale. It also allows for cost-sharing between employers and employees, providing comprehensive coverage and promoting a healthier workforce.
Group health insurance in North Dakota typically involves multiple employees covered under a single policy, with premiums shared by both employers and employees. Self-insured plans, on the other hand, involve the employer assuming financial risk for healthcare costs. Employers can choose between these options based on factors like cost, control, and flexibility.
The main advantage of group insurance is that it offers cost-effective coverage to a group of individuals, typically employees of a company. By pooling resources, group insurance plans can provide comprehensive benefits at lower rates compared to individual policies, making it a valuable option for businesses looking to offer employee benefits.
A PPO (Preferred Provider Organization) offers more flexibility in choosing healthcare providers without referrals, while an HMO (Health Maintenance Organization) requires primary care physician referrals for specialist care. PPOs tend to have higher premiums and out-of-pocket costs, whereas HMOs often have lower costs but limited provider 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.
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