Sioux Falls Group Health Insurance & Employee Benefit Plans

The Affordable Care Act has implemented comprehensive reforms designed to improve the accessibility, affordability, and quality of health care. Health care costs affect every American family’s financial well-being. It is still fragmented with gaps in insured costs, and a division in both private and public players.

The city of Sioux Falls is the fastest growing metro area and most populous city in the U.S State of South Dakota.

Sioux Falls group health insurance plans

Sioux Falls, SD Large Group Health Insurance Plans

Offering health insurance is required for companies that employ more than fifty workers. The Affordable Care Act allows each business to choose the method of compliance. Many larger companies are choosing self-funding over traditional insurance. This approach can save money and streamline the administration. With self-funding, the company retains the risks of high claims but also may reap the benefit of cost savings.

Whether fully insured or self-funded, the program must comply with the ACA requirements for affordability and coverage. For example, the company can’t charge the subscriber more than 9.12 percent of their income toward the cost (for 2023 coverage). In addition, each plan must absorb at least sixty percent of the anticipated expenses for a participant while covering these essential benefit areas:

  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

Sioux Falls, SD Small Business Health Insurance Plans

In cities like Sioux Falls, small companies have plenty of choices for providing health insurance – although they are not obligated to do so. Since the Affordable Care Act mandate for coverage doesn’t apply to businesses with fewer than fifty workers, it’s up to each one to decide. Companies seeking resources and information about insurance can find help from SHOP (Small Business Health Options Program), created by the ACA, which provides incentives for offering compliant coverage.

Some businesses can qualify for a tax credit if they are eligible using these criteria:

  • Employ fewer than 25 employees
  • Pay lower average wages (currently set at less than $53,000 yearly)
  • Offer an eligible health plan from the Small Business Health Options Program or through a qualified broker like Taylor Benefits Insurance.
  • Subsidize at least half the cost for enrolled workers. The company does not have to share the cost for dependents.

Talk to your consultant about options for your small business.

Sioux Falls SD Employee Benefit Plans and Employee Benefit Packages

Benefits plans can help attract potential workers to a company and increase the satisfaction of those working there. Health insurance and paid time off are among the most sought benefits. Still, workers also appreciate dental and vision coverage, retirement savings support, childcare options, tuition reimbursement, wellness programs, and remote or flexible scheduling.

Group Health Insurance and Employee Benefits

Group health insurance is insurance offered to a group of people, as employees of a company or members of a society.

Employee benefits, are non-wage benefits given to employees in addition to their salaries.  They include benefits like insurance, overtime, paid time off among others. These benefits attract and keep hardworking employees. Productivity in your business is boosted due to improved health amongst your workers.

Who are we?

Taylor Benefits insurance agency is an insurance brokerage offering group health insurance and employee benefits in Sioux Falls, and across the country. We have been providing insurance cover for over 25 Years. We work with all competitive insurance carriers in the market to make sure that you get the best prices.

We strive to offer high levels of value and service and our clients are treated like family. We shop your benefits plan to ensure that your company is maintaining a competitive position,at each renewal. Compliance issues and new reforms are well communicated and implemented.

Sioux Falls city will receive complementary use of our integrated online HR management system to assist in HR and benefits plan administration.

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

Insurance products by Taylor Benefits

At Taylor benefits, we craft group health insurance and employee benefits plans according to your needs and requirements. These products include:

  • Affordable Care Act (ACA) compliance
  • Long and short-term disability insurance
  • Pension plans
  • Group health insurance plans
  • Dental and vision insurance
  • Medical insurance
  • Employee benefits and wellness plans
  • Group retirement plans
  • 401(k) savings plans
  • Health Savings plans (HSA)
  • Section 125 cafeteria plans
  • Group life insurance and long-term care
  • Sioux Falls large group health insurance

Are you looking for a Sioux Falls Group Health Insurance & Employee Benefit Plans? Click the quote button to get an instant quote.

Why Taylor Benefits?

A couple of reasons makes our insurance agency the best suited agency to offer you group health insurance.

First, we are an independent insurance brokerage firm which enables us to focus solely on the client’s needs. We work with all competitive carriers across the country for group health insurance and employee benefits plans. In addition, we ensure that our clients’ carriers maintain competitive positions in the market by annually shopping our clients’ benefits plans.

Sioux Falls group health benefits and employee insurance plans

We offer complementary COBRA administration if your company requests for it, through a 3rd party. We have an integrated online HR management system for HR and Benefits plans administration.

Contact Us Today

Health insurance and benefits plans can help you stay competitive. We will craft a plan that best suits you. Call us today on 800-903-6066 (toll-free) or 408-358-7502 (local) and get professional help. You can also request for a quote here.

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