- Providing world class service and value for employee benefit group plans since 1987
At Taylor Benefits, our aim is to be more than just another California insurance broker–we want to be your one-stop solution for all your group health protection and benefits needs in San Francisco. We believe that a quality team health plan not only helps attract and retain quality employees, but it also helps businesses effectively manage costs.
With the ever-increasing competitiveness of the modern workplace, it’s becoming more and more difficult to attract and retain high-quality workers. For businesses large and small, one way of keeping your best and brightest performers is to offer a comprehensive health care package.
Being able to administer employee or group benefits at a reasonable cost to your company and your crew members is an essential part of this process and it’s what we do best.
Taylor Benefits provides practical and affordable group health plans that are specifically tailored to your business, health care coverage requirements and the needs of your workers, including medical, dental, and visual coverage services, as well as retirement plans and disability coverage.
As a general rule, most team benefits will include medical, dental, visual, disability and retirement savings solutions.
San Francisco, CA, has a Health Care Security Ordinance specifying the minimum amount an employer must spend on workers’ healthcare. The minimum amount for companies with at least twenty workers (up to 99) is $2.20 per hour that the employee works. The minimum hourly expenditure for companies with 100 or more workers is $3.30. This rule applies to staff members who work at least eight hours per week in San Francisco and have been employed for at least 90 days.
San Francisco is a costly city to live and work in. Like some other metropolitan regions, it’s a highly competitive labor market, and companies that want to hire and retain the best workers already know they must provide high-quality health insurance as part of their overall benefits package. For companies seeking the advantage, working with Taylor Benefits Agency can help ensure that you offer the essentials with the choices your current and potential staff members expect. Our consultants can also help you do so without overspending.
The ACA doesn’t mandate that small companies in San Francisco provide medical coverage. Still, if the firm has twenty or more workers, then the San Francisco Health Care Security Ordinance requires substantial spending on employee health care. Therefore, it’s a good idea to seek expert guidance from a broker like Taylor Benefits Agency to ensure you aren’t missing a critical requirement or opportunity.
San Francisco has a Paid Parental Leave Law that requires companies to make up the difference between the amount that a qualified worker receives under the California Paid Family Leave Law and their regular gross pay. To qualify, workers must have worked for the employer for at least 180 days before beginning their leave and perform 40 percent of their total weekly work hours (with a minimum of eight hours) in San Francisco.
San Francisco employers must also provide sick leave to staff members, including temporary and part-time workers, at the rate of one hour earned for every thirty hours worked. Companies with ten or more workers must allow crew members to accrue 72 hours of sick leave. Companies with fewer than ten workers can cap the accrual at forty hours.
The term “employer-based coverage” refers to a specific form of health insurance solution that is provided by a company that is a member of an association. When numerous people are insured under a group plan, the insurer bears less risk, resulting in cheaper premiums for everyone.
In the year 2020, the average price for individual employer-provided medical coverage will be $7,470, while the premium for family coverage will be $21,342. Assuming that all staff members make the same amount of contributions, the cost to the employer is $6,227.
To determine the final cost, consider the following considerations:
Many factors influence the cost of medical coverage, including where an employee lives and what type of plan they have. Team medical coverage rates, on the other hand, are based on the average. An annual health protection premium for a single person was $7,813, and a family plan cost $21,804, according to data from the Kaiser Family Foundation from 2021. A small business is defined as one with fewer than 199 staff members. For single coverage, employees footed 83% of the bill, and for families with children, they footed 65% of the bill.
According to the ACA, small businesses with fewer than 25 workers and an average income of $52,000 or less may be eligible for tax credits to assist cut the cost of small business health insurance coverage.
Individual health insurance packages are exempt from the ACA’s requirements. Employers with more than 50 crew members must provide medical coverage to all full-time workers or face a fine. Known as the “play or pay rule,” this was implemented in 2016.
To qualify for large team health insurance in Texas, a company must have 51 equivalent workers. A minimum of ninety-five percent of full-time workers must be covered. A full-time employee works at least 30 hours a week. No matter the form of coverage a large group opts for, there are no lifetime or annual benefit caps on health benefits.
It’s critical to cater to the preferences of your workforce. It’s lovely to have ping pong tables and bean bag seats in your office, but they may not be the most important things to your workers.
The following is a listing of famous San Francisco employee perks.
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