North Dakota Group Health Insurance & Employee Benefit Plans

With more than 2 and a half decades of experience creating customized group insurance plans for clients, we at Taylor Benefits Insurance know and understand the needs of groups searching for healthcare in any state. While our plans leverage the current healthcare market offerings, our plans are unique and more valuable to clients, as we do not rely on existing insurance providers or plans. Instead, we look at what works in the marketplace, what does not, and we provide a unique healthcare experience to our clients based on their needs and wants.

We provide the following options to clients when writing their employee benefit plans:

As an independent agency offering custom-designed insurance plans, Taylor Benefits Insurance is not limited by insurance plans or carriers operating in North Dakota. We are independent and our group healthcare insurance plans are independent of any one carrier or plan. To this end, we can cover a wider range of clients with a wider range of healthcare options that might not be available to them under an insurance plan offered on the state healthcare exchange, or by 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 signing with an independent insurance agency.

North Dakota Large Group Health Insurance Plans

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 9.61 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 the ten essential benefits the legislation identified:

  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

North Dakota Small Business Health Insurance Plans

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 company can purchase insurance through the platform, from a broker, or directly from an insurer. The SHOP website explains the reporting requirements plus the potential tax credit for companies that start offering coverage.

Small companies 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 premiums and copayments, for qualified plans.

North Dakota Employee Benefit Plans and Employee Benefit Packages

Employer studies show that workers consider benefits plans as a significant factor when evaluating job offers. As a business trying 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.

 

North Dakota and Group Insurance

When Obamacare was enacted, North Dakota joined the federal exchange. As a result, North Dakota offers Obamacare 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 plan through the federal exchange. Premiums are rising and basic plans may become TOO expensive for some.

North Dakota group health benefits and employee insurance plans

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.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in North Dakota

These plans are acquired by organizations and then given to their members or workers as part of a larger health insurance package. Individuals cannot obtain coverage through these plans, as they are only available to groups of people. To be considered a viable plan, at least 70% of the participants must sign-on. With so many variations in insurers, plan types, pricing, and conditions, there is never a plan that is exactly like another.

What Are Large Group Health Insurance Providers in North Dakota?

These are some of the most well-known providers of large-scale group health insurance.

  • TaylorBenefits Insurance
  • Sanford Health Plan
  • UnitedHealthcare
  • Medica
  • Blue Cross Blue Shield of North Dakota
  • eHealthInsurance
  • Superior Insurance Agency
  • Humana

What are Small Business Group Health Insurance Providers in North Dakota?

We are looking for companies that provide small business group health insurance? Below are some top agencies offering small business group health plans.

  • Sanford Health Plan
  • Medica
  • Superior Insurance Agency.
  • Blue Cross Blue Shield of North Dakota
  • eHealthInsurance
  • UnitedHealthcare
  • Humana

In North Dakota, What is Normally Included in the Benefits Package?

To keep costs down, you can only provide benefits within your means. The goal is not to become a total outlier in the market but rather to remain competitive. To avoid confusion, remember that employees are already familiar with paying a portion of their health insurance premiums.

Bonus: Many low- or no-cost benefit options are available. How do you get started? The following is a list of standard employee benefits offered by U.S. corporations.

  • Health Insurance Benefits
  • Retirement Accounts
  • Dental Insurance
  • Life Insurance
  • Education Assistance
  • Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs)
  • Paid Holidays
  • Paid Medical Leave
  • Paid Vacation and Sick Time
  • Flexible Schedule

What% of Health Insurance is Paid by Employers?

83% of a single policy’s cost is borne by employers. A single-coverage health insurance plan offered by a corporation will cost $7,470 in 2020. The average employer paid 83% of the premiums, or $6,200. Workers were also required to pay $1,270 for the remaining 17%, or $1,271.

The average cost of family coverage is $21,342 per year, with employers contributing on average $15,579 to the cost. Approximately 27% of the costs are borne by employees, or $5,763 per year.

Large firms contribute significantly more to their employees’ healthcare than small businesses when it comes to family coverage.

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