San Jose Group Health Insurance

Building and maintaining a staff or employees is a challenge for every business in the modern workplace. Part of attracting and retaining the highest quality employees rests on your ability to provide them with the best benefits package available. Increasingly, the key factor in any benefits package is the level of health care coverage provided, in accordance with the Affordable Care Act.

San Jose group health insurance plans

Taylor Benefits has been providing group health insurance in San Jose for more than 25 years. Our group employee health insurance plans offer tremendous flexibility to our clients covering every major health plan and carrier in California.

San Jose CA Large Group Health Insurance Plans

Every large employer (defined as having fifty or more full-time workers) must provide health insurance that satisfies the standards set by the ACA (Affordable Care Act.) Most large companies have been offering health insurance coverage since before Congress passed this legislation. Still, some have made changes to comply with the coverage and affordability standards. Affordability requires that the employee’s share of the monthly premium must be less than 9.61 percent of their gross income for a comprehensive plan that is expected to absorb sixty percent of typical usage expenses.

Average premiums in the US are over $7,700 for an individual and over $22,000 for a family plan. These costs have increased nearly fifty percent in the last decade. Employers must ensure that they cover enough of the premium to meet the IRS affordability standard. Furthermore, every insurance plan must include coverage for the ten “essential benefit areas” designated by the ACA:

  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

San Jose CA Small Business Health Insurance Plans

Small employers don’t have to offer insurance coverage, and those who want to do so may struggle with the cost. Businesses may wish to seek guidance from a broker like Taylor Benefits Insurance when considering options. Also, the ACA created SHOP (Small Business Health Options Program) to provide companies with resources. Your company may want to help by funding a Qualified Small Employer Health Reimbursement Arrangement (QSEHRA.) With a QSEHRA, the company can decide how much it will contribute to the employee’s accounts. Then, when the workers pay for health care costs, they submit their claim for reimbursement to the QSEHRA. The health care plans employees pay for with the QSEHRA funds must be ACA qualified. If the company contributes to an account and an employee doesn’t use the available funds in the year allocated, the business can either keep the allocated money or leave it in the employee’s account for future usage.

San Jose CA Employee Benefit Plans and Employee Benefit Packages

Companies need to find a way to stand out in this tight job market. However, increasing wages may not always be a sensible approach, so some organizations evaluate their benefits packages. Studies in every industry and geographic area report that workers consider their benefits a critical part of the overall compensation package when evaluating a job offer. In addition, benefits make a significant impact on worker satisfaction and loyalty.

If your organization is considering additions or changes, ensure that the package includes the basics: health insurance, paid time off, and retirement assistance are an excellent foundation for the benefits program. Next, select some perks that appeal to your target demographic for recruiting. For example, if you tend to hire recent college graduates, they would probably appreciate help with student loan debt. Matching employees’ student loan payments is one way to support workers who feel unable to contribute to their retirement plans because of their college debt.

Affordable Group Health Insurance Plans

Taylor Benefits provides the best and most comprehensive group employee health insurance in San Jose and Silicon Valley. We are happy to meet the group health insurance needs of companies large and small, individuals, and self-employed workers in San Jose and surrounding areas. Before a plan is purchased by the employer, the date, statement, and necessary documents should be checked thoroughly.

In addition to negotiating the best rates possible for our participants, we also provide a free online HR tool to help you manage your employee group insurance benefits. You can directly use it from your browser. Some of the many employee group insurance benefits that we offer are covered here:

  • Medical
  • Dental
  • Vision
  • 401(k) and retirement

Dial 800 -903-6066 and get free consultation on San Jose Group Health Insurance & Employee Benefit Plans

Types of Group Health Insurance Plans In San Jose

Offering cost effective employee-sponsored health plans is a great way to retain your best and brightest employees. With the next phase of Obamacare coming in 2014, it’s going to become even more important that quality, affordable health care be offered as part of a group employee benefit. Here’s an overview of the basic options you can offer to employees and their family as part of a group benefits package.

San Jose group health benefits and employee insurance plans

PPO – A PPO or Preferred Provider Organization offers tremendous freedom of choice, allowing employees to choose their own doctors and health care providers. The best savings with a PPO plan come when using the preferred in-network options.

HMO – With a Health Maintenance Organization or HMO, employees must go to specific providers (or groups of providers) for their health-related services to be covered.

HSA – A Health Savings Account is a tax-free account that can be used to pay for health expenses and works similar to a PPO in terms of choice and services. The holidays’ schedule is determined yearly in January by the management.

Benefits that Keep your Employees Happy

It becomes necessary as an employer to provide health insurance package to your employees and their dependents. Taylor Benefits Insurance Agency knows the importance of employees, the most valuable asset of any organization. A business can lower turnover if the benefits package meets the expectations of its employees, thus keeping the staff hale and hearty.

We’re happy to offer a range of group health insurance services for business employers. Our specialists will guide you in choosing an affordable plan which suits your needs. We also provide dental and vision healthcare services to the desired person. No need to provide any documents as we can also take your requirements via call or mail.

Which Plan is Right for your Business?

Group health insurance plans are categorized as indemnity plans, such as Fee-for-Service (FFS), or managed care plans, such as Preferred Provider Organization (PPO), Health Maintenance Organization (HMO), and Point-of Service (POS).

The difference between Managed care and Indemnity plans is the choice of physicians, types of providers, medical bill payments, reimbursement, waived bills, and out of pocket expenses.

Group health insurance options vary between states in terms of benefits, size of your business, and coverage options. Before choosing any plan, it’s important to get guidance of our subject matter specialist at Taylor Benefits Agency business’s who understands your health needs. He can help you in finding the perfect solution to your healthcare needs.

Are All Plans Such As Health Maintenance Organization, Preferred Provider Organization, and Health Savings Account Same?

Each policy is different. Firstly, the laws governing these policies vary between states. Secondly, all insurance plans must be according to the Affordable Care Act (ACA). It regulates all insurance plans for both small and large scale businesses. Every employer who is purchasing a group insurance service for his company or those buying it individually must be in adherence to this act.

An employer who has less than 50 full time employees is considered as a small company. Rest all other businesses having a larger employee strength are considered as large businesses. Also, the coverage, premiums, and governing laws vary according to the size of the business.

Relevant Statistics

  • Over 90% of businesses in San Jose offer group health insurance for their employees.
  • The average premium for group health insurance in San Jose is $550 per employee per month.
  • More than 80% of San Jose residents have access to employer-sponsored health insurance plans.
  • San Jose has a network of over 100 healthcare providers that accept group health insurance.
  • Group health insurance coverage in San Jose includes benefits for mental health treatment in 95% of plans offered.

General Facts

  • San Jose group health insurance provides coverage for a group of individuals who are affiliated through an organization or employer.
  • It offers various benefits, including medical, dental, and vision coverage.
  • Group health insurance plans in San Jose can help reduce the financial burden of medical expenses for employees and their families.
  • These plans typically offer more affordable premiums compared to individual health insurance plans.
  • Group health insurance often includes additional perks such as wellness programs and preventive care services.

What if I do not get Access to the San Jose Group Health Insurance Plans?

Certain time period is permitted for continuation of insurance plans to people after they lose their job, change of marital status, etc. Many of them continue with their group insurance coverage without any specified time frame. And the credit goes to the federal Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA).

However, COBRA doesn’t apply to all employers and states, but wherever it doesn’t exist there are far better options to purchase from.

An employee group health insurance policy is a great benefit offered to its employees and their family members for giving their services to the company. It’s the most famous health insurance benefit among Americans. Nowadays, additional services such as vision, dental, and age specific coverage is also provided.

For availing San Jose Group Health Insurance services, Call us today and get a free quote at 800 -903-6066.

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Learn more about San Jose employee benefits packages offered by Taylor Benefits.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in San Jose, CA

These are brief answers to common questions about health insurance in San Jose, California.

What Perks Do Large Group Health Insurance Plans in San Jose, California Offer?

In San Jose, California, businesses with more than 50 employees often find that a large group health insurance plan is the best option. Since it delivers a sizable discount when purchased, a large group health insurance plan’s main benefit is that it offers insurance at a reduced cost.

Additionally, large group health insurance policies may provide coverage for students. This plan is ideal for anyone without the means to purchase health insurance. Large-group health insurance has the following additional benefits:

  • Deductibles
  • Coinsurance
  • Employee vision insurance and care
  • Employees’ medical coverage
  • Comprehensive healthcare plan
  • Employees’ major medical expenses
  • Out-of-pocket expenses
  • Employee wellness drives
  • Pre-existing conditions
  • Employer-sponsored (funded) Medicare/Medicaid enrollment
  • Employee dental programs and coverage
  • Health Savings Accounts (HSAs)

How Do Small Business Group Health Insurance Plans Work in San Jose, California?

There are essentially five ways for small businesses in San Jose, California, to use group health insurance plans.

The majority of small businesses can afford basic group health insurance. To provide health benefits to their employees under this plan, employers simply pay predetermined health plan premiums. They occasionally offer insurance to the families of their employees. However, a fraction of the cost might fall on the employee.

The second health insurance plan to consider is the Qualified Small Employer Health Reimbursement Arrangement (QSEHRA). Employers are required to pay employees a certain amount of perks each month (at their discretion).

Additionally, you might invest in group health insurance coverage. The firm would offer the employee group health insurance and a monthly payment to help with other expenses.

The riskiest option for small business health insurance is self-funded plans. The cost of the bills, not the monthly premiums, is used to determine how much the employer will pay the employee for their medical costs or prescribed drugs.

Finally, Associate Health Plans (AHPs) are a high-risk investment for small enterprises. An AHP is obtained when a number of smaller businesses in the same sector or area join forces to purchase a more comprehensive group health plan from an insurance provider. 

What Type of Benefits Do Employers Offer in San Jose, California?

The majority of top San Jose, California, businesses provide health insurance that covers a variety of medical treatments and equipment, such as surgical operations, prescription drugs, and doctor’s appointments.

However, since it is thought to be unnecessary for employees, companies do not pay for plastic procedures. Since dental and vision coverage is typically not included in healthcare plans, they must be purchased separately.

How Much Do Employers Pay for Health Insurance?

Despite what they earn, every employee is allowed to contribute to the health insurance plan offered by their employer. A typical employee will spend $3240 annually, or $270 monthly, which is about three times less than the average cost of health insurance in the US.

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