Also known as ‘silk city,’ Paterson is one of the largest cities in New Jersey. It also offers administrative functions to New Jersey. With close to 150,000 residents, Paterson has a large enough workforce.
A majority of American citizens are starting to appreciate the benefits that come with health insurance. With the right packages, your employees will continue playing a major part in the growth of New Jersey.
Group health insurance is a form of insurance that is offered by employers to employees. Employers offer group health insurance as a major employee benefit.
Employee benefits are perks that are provided by the employer in addition to monthly wages. Some benefits such as health insurance are tailored to cover dependents. Due to the different laws governing benefits acquired as a group, group health insurance is not taxable.
With inflation rising, health insurance costs go up as fast or even faster than other benefits expenses. Still, large companies must provide health insurance for their employees, and the ACA limits the amount of the premium they can require the workers to pay. This scenario leaves the company absorbing rate hikes.
As a result, human resource executives and company leaders express concern about managing insurance costs. So, group insurers are trying other cost-management methods, including:
Some small companies may hesitate to offer health insurance since the Affordable Care Act (ACA) doesn’t require it, and policies are typically quite costly. One option for these companies is an ICHRA (individual coverage health reimbursement arrangement) instead. With an ICHRA, the employer facilitates the employee’s use of pre-tax funds to buy insurance coverage. Each employee chooses their own coverage (as long as it meets ACA standards, and they can buy it through the state marketplace or a broker. However, the employer can’t offer health insurance plus an ICHRA.
Moreover, if a business offers an ICHRA, it must be available for every employee—not just certain subgroups within the company. The company can decide how much to contribute if all employees are treated equally. The decision about how much, if anything, to contribute to the accounts can vary from year to year.
Companies that want to attract and retain talented workers must develop attractive benefits packages. Current and potential workers consider the benefits along with the pay. A good package often starts with health insurance, especially for large companies subject to the ACA mandate. In addition, many employees expect paid time off for illness, vacation, and holidays.
Other benefits that workers want include:
Taylor Benefits is an insurance company located in San Jose, CA. We have been in operation since 1987. For more than 25 years, we have been providing excellent services to a wide range of clients. This has helped us spread our services across the entire nation. As insurance brokers, we offer group health insurance and other employee benefits to both large and small businesses. Our insurance products are in line with the Affordable Care Act, aimed at ensuring that every citizen gets affordable insurance.
Dial 800-903-6066 and get free consultation on Providence Group Health Insurance & Employee Benefit Plans
As a result of our wide range of clients, we have managed to come up with a number of insurance products that fit different groups of people. Our products include:
Are you looking for a Providence Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.
We are insurance brokers. Our thirty years of experience have allowed us access to all major carriers in the country. We are able to provide you with the best insurance policy that will fit your desired goals. We also do an annual study of these carriers to ensure that their prices stay competitive.
Our COBRA administration services come through a 3rd party administrator. Cobra administration was set aside for your employees who have stopped working for you and are looking to gain access to their benefits. In addition to offering cobra administration, we also offer an integrated online HR management system which makes your HR and benefits plan management easier.
We care about you; we keep you updated on compliance issues and as new provisions of the law reform come into effect.
We would love to answer any questions you might have. Feel free to call us today on 800-903-6066 (toll-free) and one of our representatives will be more than happy to answer any of your questions. You can also visit our website for more information.
Written by 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.
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.
We’re ready to help! Call today: 800-903-6066