Ohio Group Health Insurance & Employee Benefit Plans

Taylor Benefits is a leading provider of group health insurance and employee benefits plans in Ohio.  We have been setting the industry standard for over 25 years by offering customized plans that are both comprehensive and affordable. Taylor Benefits serves every city in Ohio, from Columbus to Cleveland to Cincinnati and everywhere in between.

We specialize in the following:

Our structure as an independent group insurance agent allows us to customize plans by combining individual plan components from different providers. This enables Taylor Benefits to create the perfect package that will meet your company’s and employees’ needs while staying within budget.

Taylor Benefits prides itself on staying up to date with all changes to Ohio healthcare regulations, so you can trust us to provide you with the most current information and keep 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 benefits options in Ohio, or complete the simple form on the right for a no-obligation, customized proposal for your Ohio-based business.

Call 800-903-6066 for a free consultation on Ohio Group Health Insurance & Employee Benefits Plans.

Ohio Group Health Insurance & Employee Benefit Plans

Ohio Large Group Health Insurance Plans

One of the major provisions of the Affordable Care Act (ACA) requires businesses with fifty or more employees to offer health insurance for workers or pay a 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 coverage 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 mandated companies provide individual coverage at a cost of less than or equal to 9.12 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 businesses 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 learn about 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 credit break may be available to support your administrative costs. You can purchase the medical plan anytime; there is no special enrollment period.

Ohio Employee Benefit Plans and Employee Benefits Packages

Ohio employees who are injured while working are protected from loss of income by mandatory worker’s compensation coverage that the employer carries. A typical benefits package could also include health insurance, paid time off, a 401(k) plan, behavioral health 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 in 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, some positives and negatives come along with change.  Our expertise on how exactly the ACA affects group plans in Ohio sets us apart from the competition.  We provide an unmatched resource for information about insurance policies and providers. Our personal, one-on-one consultations eliminate potential 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 group’s benefits plans.

Taylor Benefits recognizes that the business economy is different in Ohio than in many other areas. 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 an Ohio-based business, you can fill out our personalized quote or call the number at the top of the page for a FREE, customized proposal designed to meet your needs exactly.

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

Employees of a firm or members of a group organization may be covered under a group health insurance plan. Because a group health plan can spread the risk among more participants, choosing this structure will often enable lower employees premiums.  

What Is Considered a Large Group for Health Insurance Plans?

At least 51 full-time employees are required to qualify for large group insurance plans.

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

While health insurance can be costly for both the sponsoring company and the participant, both also benefit from supporting employees’ health.

Ohio employers pay an average of $5406 annually toward the cost of individual employee coverage. The per-person cost may be higher for small businesses.

What Should Employee Benefits Packages Include in Ohio?

Ohio employers have substantial leeway in deciding what benefits to offer their teams. A company doesn’t need to try and include every potential perk but may want to offer those that support their company and community values.

The following benefits are frequently included in a benefits package: 

  • Retirement savings support
  • Health insurance
  • Family leave
  • Flexible working options
  • Dental and vision insurance
  • Gym membership
  • Sick pay

How Much Do Employee Benefits Cost on Average?

According to the US Bureau of Labor Statistics, employee benefits in 2022 account for 31 percent of the average total compensation package, with the other 69 percent in actual wages.

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