Oklahoma Group Health Insurance & Employee Benefits Plans

With over 25 years of experience, Taylor Benefits Insurance is the leading provider of group healthcare and benefit plans in Oklahoma.  We offer customized plans created specifically for your company and designed to be both comprehensive and affordable.  Taylor Benefits Insurance is an industry expert, and we channel that knowledge and efficiency into making sure your business has the best available group wellness and healthcare benefits plans.

Oklahoma Large Group Health Insurance Plans

The ACA requires businesses with more than fifty employees in Oklahoma to provide health insurance to their workforce. ACA rules also eliminated restrictions on coverage for pre-existing conditions, which previously prevented people from accessing treatment for some illnesses if they switched jobs or insurance plans.

The ACA also requires insurance companies to allow dependents to remain on their parent’s policies until they reach the age of 26 and eliminates lifetime benefit caps. Finally, the ACA requires that policies meet an affordability standard. The premium share for the subscriber can’t be higher than 9.12 percent of their gross income for individual coverage. In addition, every group coverage policy must cover these 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

Most large companies already offered health insurance before the ACA. Still, the reforms around pre-existing conditions and lifetime benefit caps have been significant for some individuals.

Oklahoma Small Business Health Insurance Plans

The Oklahoma Health Care Authority created Insure Oklahoma to assist small and medium-sized companies with providing health insurance to low-paid workers. Companies with up to 250 employees that offer a health plan and pay at least 25 percent of the premium for their workforce can use the Insure Oklahoma options.

Companies can buy small business health insurance plans from a broker like Taylor Benefits Insurance. The employees’ premiums paid are restricted by their gross income if they are within the income guidelines for the program. Oklahoma is incorporating this in its overall effort to improve the delivery of healthcare services to its population.

You can verify your eligibility for SHOP (Small Business Health Insurance) on our marketplace.

Oklahoma Employee Benefits Plans and Employee Benefits Packages

Employee benefit packages are recognized as a vital aspect of employee compensation. Workers evaluate the difference in offerings when comparing job opportunities. Benefits packages often include crucial components such as health insurance, life insurance, disability coverage, paid time off, and assistance with retirement savings. Employers must provide health insurance coverage if they have more than fifty workers, but other benefits are optional.

The ones that employees put highest on their wish lists are:

  • Paid time off (vacation, holiday, and sick leave)
  • Family leave
  • Retirement support
  • Dental and vision insurance
  • Flexible working schedules
  • Childcare support

Unlike traditional insurance providers, Taylor Benefits works independently, which allows us to offer you truly tailor-made plans designed for the best interests of the employers and the employees. We will work with your budget to figure out the ideal insurance scenario that will keep your company completely in compliance with state and federal regulations.

Healthcare reform is a hot topic, mostly because the industry is constantly undergoing changes, so we always keep abreast of these updates and can serve as an unparalleled resource, clearing up any confusion and answering any questions you may have.

Note that if you bought the policy from the federal government and received premium tax credits, you will have certain precautions when you’re late paying your premium.

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

Oklahoma group health insurance plans

We currently offer:

Relevant Statistics

  • Over 95% of businesses in Oklahoma offer group health insurance coverage to their employees.
  • The average annual premium for a family group health insurance plan in Oklahoma is $12,500.
  • Approximately 80% of Oklahomans have access to employer-sponsored group health insurance.
  • Nearly 90% of small businesses in Oklahoma provide some form of group health insurance options.
  • Group health insurance plans in Oklahoma cover an average of 85% of medical expenses for policyholders.

General Facts

  • Oklahoma group health insurance provides health coverage for a group of individuals, typically offered by employers to their employees.
  • It offers a range of benefits, including coverage for doctor visits, hospital stays, prescription medications, and preventive services.
  • Group health insurance in Oklahoma is regulated by the state’s Department of Insurance to ensure compliance with laws and regulations.
  • Employers often contribute towards the cost of the premiums, making it more affordable for employees to obtain health insurance coverage.
  • Oklahoma group health insurance plans can vary in terms of coverage options, cost-sharing arrangements, and networks of healthcare providers.

What does the Affordable Care Act mean for your Oklahoma business?

The Affordable Care Act, nicknamed Obamacare, completely turned the healthcare marketplace upside down.  It allowed individuals who were previously uninsured an opportunity to purchase or qualify for healthcare at a discounted rate.  Of course, the flip side is that it changed the way insurance coverage was provided by employers as well.  Oklahoma-based businesses were especially affected by this reform.

Similar to only two other states (Texas and Wyoming), Oklahoma relies on the federal government (versus state regulators) to review healthcare rates and plans offered.  Unfortunately, this means that approval can take a long time, which can leave many residents of Oklahoma without insurance. 

Taylor Benefits offers the unique opportunity to avoid dealing with the exchange completely and instead gain easy access to an ACA-compliant package that meets your company’s needs while staying within budget.

If you need this type of attentive insurance assistance and are operating an Oklahoma-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 complete the enrollment process.

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

While Oklahoma doesn’t regulate the healthcare coverage that employers offer, all large employers with more than 50 employees must comply with the ACA mandate. For any size company, providing insurance at an affordable price for workers will help the employees prosper and will identify the company as a responsible business. 

These are some common questions about healthcare insurance:

In Oklahoma, what are the largest health insurance companies?

Large Group Health Insurance is available to companies with 51 or more employees, and that number identifies large businesses according to the ACA. Employers offering Group Health Insurance for Oklahoma currently include:

  • State Farm
  • Coventry Corp. Group
  • Metropolitan Group
  • HCSC Group
  • Humana Group
  • Kaiser Foundation Group
  • Carefirst Inc. Group
  • HIP Insurance Group
  • UnitedHealth Group
  • Blue Cross
  • Blue Shield
  • eHealthInsurance
  • UHC of California

What’s the Cost of Insurance for Small Business Insurance Plans in Oklahoma?

Insurance is all about numbers. Because a small group plan has fewer members than a large group policy, the cost per person may be higher. However, small companies with more than 25 employees are eligible to receive a tax credit. On average, employers in Oklahoma contribute $5,600 annually to the cost of each employee’s coverage.


What Should Employee Benefits Packages Include in Oklahoma?

Businesses cannot function without employees. One great way to show your employees appreciation is to offer them comprehensive health insurance. That way, they don’t have to stress over medical issues and costs.

An employee benefits package that is low-cost and comprehensive is a great recruiting tool. Your potential new hires will be attracted by a high-quality benefits package. Providing one of the best employee benefit plans and health insurance can help you stay ahead of your competitors.

Among other benefits, a good employee benefits package might include standard health, dental, disability, vision, and life insurance.

How Much Do Employee Benefits Cost on Average?

The U.S. Bureau of Labor Statistics reports that the benefits portion of a compensation package is approximately 31 percent. The rest is in wages.

Written by Todd Taylor

Todd Taylor

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.

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