- Providing world class service and value for employee benefit group plans since 1987
For large Raleigh employers, providing benefits is an excellent way to attract top-quality talent to your business. Sponsoring health insurance also contributes to their physical and mental health. Many employers pay a portion of the insurance premium. Of course, under the Affordable Care Act, if you employ more than fifty workers, you must ensure that you offer a policy that satisfies the affordability and quality standards.
Still, employers have options when selecting health plans. You can choose a preferred provider or health maintenance organization, potentially helping workers reduce expenses. Because of the ACA requirements, every health plan must include specific essential component coverage in these broad areas:
The ACA exempts small businesses (those with fewer than 25 employees) from the mandate to provide health insurance. However, many prefer to help their employees obtain coverage. Companies can assist by sponsoring a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). The QSEHRA is a tax-advantaged savings account that enables employees to pay for medical expenses with pre-tax dollars. Some companies also contribute funds to their worker’s accounts, but that is optional.
However, suppose a business implements a QSEHRA. In that case, it must be available for every full-time employee, not limited to specific groups within the company. Plus, if they have a QSEHRA, the company can’t add health insurance or a flexible spending account (FSA).
The employees must purchase ACA-qualified insurance to qualify for reimbursement with the QSHERA accounts. Workers pay for health care costs, then submit the expenses to the QSEHRA. If an employee doesn’t use the money in the account for one year, they can roll it over for the future.
Employees across the board say they carefully evaluate pay and benefits when considering a job offer. As a result, many companies try to include at least health insurance and paid time off, which are always the most requested. Of course, large businesses must provide health insurance as part of their ACA mandate. Small companies don’t have the requirement but want to be competitive.
Depending on the company’s size and budget, it’s worth considering what will be most appealing to the workers if it can offer more. Employees often ask for the following perks:
Taylor Benefits Insurance has been writing custom group healthcare insurance plans for over 25 years. Our clients are groups that are not satisfied with their healthcare plan offerings on the state or federal exchanges, or established insurance providers. Luckily, insurance plans written by independent agencies like Taylor Benefits are better. We are under no obligation to compete with plans offered through the federal exchange, and we are not in competition with insurance providers in your state.
Our plans are unique and custom-crafted to better serve the needs of our clients. Each client provides us with information regarding the benefits they require, and then we perform research to determine the best healthcare coverage for them. As a result, our healthcare plans are much more comprehensive and affordable than other plans on the market.
We offer the following essential health benefits in each of our group healthcare insurance plans.
We can add more benefits to your plan if you request them. However, most clients are satisfied with the essential benefits we offer.
The future of Obamacare is politically and legally uncertain in North Carolina, and this affects all residents, especially those living in Raleigh. Although salaries are slightly higher in larger urban areas than smaller rural areas, the cost of urban living is usually much higher. With Raleigh residents paying an average $4,264 annually on their healthcare, healthcare may soon be unaffordable if Obamacare is repealed and replaced. Raleigh residents need a new option to receive the healthcare coverage and insurance they need, at prices they can pay.
Healthcare does not have to be expensive or limited. If you are purchasing healthcare insurance from an established insurance provider or through the federal exchange, you should consider if you can get a better deal elsewhere. Group healthcare insurance plans from experienced independent agencies are more affordable, and more comprehensive, than individual healthcare insurance plans offered locally.
Independent agencies with experience in writing custom healthcare insurance plans, like Taylor Benefits Insurance, can provide you with a more comprehensive, more affordable healthcare plan. Group healthcare insurance is significantly cheaper than individual insurance, especially in the last few years. Regardless of insurance providers hiking rates or the uncertain future of Obamacare, you can rest assured with a group healthcare insurance plan that the terms of your plan will not change. Stability and comfort are two traits we strive for in our group plans.
The following are some frequently asked questions about Raleigh, North Carolina health insurance coverage:
Employees are expected to contribute to the group health insurance plan. Employee healthcare costs are $3240 per year, which is more than three times less than the average American.
Taylor Benefits Insurance Agency offers the following benefit plans to businesses and employees in Raleigh, North Carolina:
Taylor Benefits Insurance represents several of the country’s largest health insurance carriers. When it comes to large group coverage, we can always get you a terrific deal.
We have relationships with the following insurance companies:
• Metropolitan Group • Blue Cross • Blue Shield • HCSC Group • eHealthInsurance • UHC of California • Kaiser Foundation Group • Coventry Corp. Group • HIP Insurance Group • UnitedHealth Group • State Farm • Humana Group
The ideal type of plan for you and your employees is determined by what you want and how much you are ready to spend. Health insurance policies are often classified into four broad categories:
Health maintenance companies deliver health-care services through a network of providers that contract with or work for them. A primary care physician (“PCP”) provides primary health care and refers employees to specialists when needed.
PPO (Preferred Provider Organization) health insurance plans are the most frequent. To receive full reimbursement under a PPO plan, employees must seek medical care from providers on the insurance company’s list.
Members with indemnity coverage have the option of selecting their own doctors and hospitals. The insurance company will then pay a share of the charges. Certain procedures may need employees paying ahead of time and then requesting reimbursement from their insurance carrier
HSA-qualified plans are ones that can be utilized in conjunction with a Health Savings Account (HSA). A health savings account is a type of bank account that allows users to save money for future medical expenditures before taxes. Because of its advantages, businesses frequently prefer Section 105 Healthcare Reimbursement Plans (HRPs) over Health Savings Accounts (HSAs).
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