Shreve Port Group Health Insurance and Employee Benefit Plan

Shreveport LA Large Group Health Insurance Plans

The Affordable Care Act (ACA) is not the only reason that big companies offer health insurance to their employees. Many also recognize the value that it gives them for recruiting and retention, while others understand that it’s the right thing to do. Still, as costs keep rising, companies must look for ways to control expenses and share those costs with the employees. The ACA limits how much companies can charge employees for their health insurance premiums as part of the affordability requirements.

One way that some companies try to manage costs is by self-funding their programs. Self-funding means they directly pay claims workers have for medical care instead of buying insurance from a provider. The risk can be significant if several workers incur tremendous expenses. However, there is also an opportunity for cash flow management and overall savings. In many cases, the employer will employ a third-party administrator to manage the disposition of claims. The company can limit risk with a stop-loss policy. In most cases, employees won’t know that the program is funded by the employer rather than a traditional insurance policy. The company typically uses a third-party administrator to manage the claims.

Shreveport LA Small Business Health Insurance Plans

Small companies aren’t covered by the ACA requirement to offer health insurance to their employees. Still, like more significant companies, many want to provide the benefit but also want to control the cost. Because of their relative size, self-funding may be riskier for a small company. So instead, they might choose a level-funded plan. Level-funding is a combination of traditional insurance and self-funding. This approach provides more flexibility and cash-flow control for the business. At the same time, it limits the risk that can come with an influx of high claims.

Shreveport LA Employee Benefit Plans and Employee Benefit Packages

Benefits are sometimes described as the non-monetary part of employee compensation. When a potential employee considers the offer, they probably put more weight on the pay, but they will assess the benefits package as well. A good benefits program may add thirty percent to the overall cost of each employee.

Benefits usually include health insurance, paid time off, and sometimes contributions to a retirement savings plan and other costly components. However, benefits can also be free or low-cost perks like flexible scheduling, remote work options, casual dress code, and the office culture.

Group Health Insurance and Employee Benefits

Group health insurance is one of the most desired employee benefits that job hunters pay attention to when looking for employment opportunities. This is a critical part of your group health insurance and employee benefits plan. By offering your employees a benefits package, you can be sure to increase their productivity and performance. Your employees are able to take care of their personal health and that of their loved ones well.

Who We Are

Taylor Benefits is a leading insurance agency that offers businesses across Shreve Port group health insurance and employee benefits plans. We have been in the industry for three decades so we have an in-depth understanding of the dynamics of the healthcare insurance industry and can help you make the right decisions. We are experienced in crafting custom group health insurance and benefits plans that respond to your company’s needs and the needs of your employees. Our licensed insurance professionals take time to understand your business before recommending a plan for you. We care about your bottom line.