Ohio Group Health Insurance & Employee Benefit Plans

Taylor Benefits is the leading provider for group health insurance and employee benefit plans in Ohio.  Offering customized plans that are both comprehensive and affordable based on your specific group needs, we have been setting the industry standard for over 25 years.  Taylor Benefits is currently servicing all cities in Ohio from Columbus to Cleveland to Cincinnati and everywhere in between.

We specialize in the following:

Operating as an independent group insurance agent allows us to customize plans by drawing from components of different providers.  This gives us the freedom to create the perfect package that would best benefit your company and employees while remaining in budget.

Taylor Benefits prides itself on staying up to date with all changes regarding Ohio healthcare reform, so you can trust us to provide you with the most current information and keep you and your company in compliance at all times.

Call us today at the number on the top of the page for a FREE estimate and available group benefit options in Ohio or complete the simple form on the right for a no obligation, customized proposal for your Ohio-based business.

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

Ohio Group Health Insurance & Employee Benefit Plans

Ohio Large Group Health Insurance Plans

One of the major pieces of the Affordable Care Act (ACA) was requiring businesses with fifty or more employees to offer health insurance for workers or pay the penalty. The legislation also eliminated provisions that deny coverage for pre-existing conditions. Further, it allows young adults to remain on a parent’s policy until they reach the age of 26. In Ohio, these adult children have until age 28 in many cases.

Since many large employers offered health insurance to their workforce even before the ACA, the number of workers enrolling through their employer hasn’t changed substantially. However, the affordability standard and the minimum essential benefit requirements have made a difference. The affordability standard requires that impacted companies provide insurance at a cost for individual coverage less than or equal to 9.6 percent of the employee’s income. In addition, plans are rated for affordability based on the percentage of anticipated costs they will cover, with the lowest rank bronze plans expected to absorb sixty percent of needed service expenses.

Finally, plans must include ten essential benefits:

  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

Ohio adds a requirement for ambulance services and off-label prescription drugs to that list.

Ohio Small Business Health Insurance Plans

Small companies in Ohio don’t have to provide insurance coverage for their workers. But for those companies that want to, there are helpful resources. For example, suppose you want to provide coverage through SHOP (Small Business Health Options Program) and have fifty or fewer employees. In that case, you can access qualifying plans through the marketplace or by talking to your representative at Taylor Benefits Insurance.

If you provide a SHOP plan, you must offer it to all eligible employees (all those working at least thirty hours per week). Also, at least seventy percent of your eligible employees must enroll through your program or have insurance through another channel.

For small companies with fewer than 25 workers, tax credits may be available to support your administrative costs.

Ohio Employee Benefit Plans and Employee Benefit Packages

Ohio employees are protected from loss of income if they are injured on the job by mandatory worker’s compensation coverage that the employer carries. A typical benefits package could include health insurance, paid time off, a 401(k) plan, and possibly dental and vision insurance.

As is the case across the country, Ohio’s participation in employer-sponsored retirement plans is limited. According to figures reported by the Bell Policy Institute, 48 percent of companies across the country still don’t have a retirement program for workers. Moreover, the shortfall is more significant in small companies than large ones.

What does the Affordable Care Act mean for you and your business?

The Affordable Care Act, casually referred to as Obamacare, has made some groundbreaking changes in the way health insurance and group benefits are administered.  Of course, as with any reform, there are positives and negatives that come along with change.  Our expertise on how exactly the ACA affects group plans in Ohio is what sets us apart from the rest.  We provide a resource unparallelled to traditional insurance providers and offer one on one assistance to alleviate confusion.

All our plan offerings are guaranteed to keep your business safely in ACA compliance, so you never need to worry about not satisfying regulations.  Taylor Benefits will review your current plans, offering solutions, substitutions, and suggestions for ways to save money while maintaining the best level of coverage for your groups benefit plans.

Taylor Benefits recognizes that the business economy is different in Ohio compared to the rest of the United States, and we strive to create a custom group plan that works well based on your specific company requirements.

If you need this type of attentive insurance assistance and are operating a Ohio-based business, please complete the form on the right or call the number at the top of the page for a FREE, customized proposal guaranteed to meet your needs exactly.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Ohio

Employees of a firm or members of a group organization may be covered under a group health insurance plan. Due to the more significant number of subscribers, group health insurance is often less expensive than individual policies.

What Is Considered a Large Group for Health Insurance Plans?

At least 51 full-time employees are required to qualify as a major employer for car insurance plans.

Generally speaking, how much do insurance policies for small businesses in Ohio cost on average?

Owners of businesses are responsible for ensuring that their employees have access to health insurance that satisfies their requirements. As a result, the cost must be considered by business owners who recognize that their bottom line ultimately determines their company’s financial health.

A study found that the average monthly price for small group health insurance was $409, while the monthly premium for an individual plan was $440, as per the findings.

What Should Employee Benefits Packages Include in Ohio?

As an employee, you have access to an impressive array of benefits. It is not necessary to mention any or all of them; however, it is a good idea to explore how these fit up with the principles held by the organization. The terms “financial” and “health and wellness” are typically used to refer to the two primary areas included in employee benefits.

The following perks are available to employees who meet specific financial-specific criteria. 

  • Travel loans
  • Pension
  • Bonuses
  • Share schemes
  • Maternity/paternity pay
  • Flexible working
  • Private medical insurance
  • Duvet days
  • Gym membership
  • Sick pay

How Much Do Employee Benefits Cost on Average?

Businesses provide their employees with $11.60 per hour in benefits, according to the Bureau of Labor Statistics (BLS). Wages or salaries make up $25.03 of the average total hourly cost of work, according to the same survey. According to these figures, employers face a nearly 50% increase in payroll costs due to the rise in the average price of benefits.

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