South Carolina Group Health Insurance | Best Group Health Insurance in South Carolina, SC

Affordable, Comprehensive Group Benefits For South Carolina Businesses

Welcome to Taylor Online Benefits – a leading provider of employee benefits and healthcare plans in South Carolina. Backed by in-depth industry knowledge and skills, our team of insurance experts is here to help you provide competitive and affordable employee insurance options customized to your needs.

South Carolina group health insurance plans

Your business is unique, and rubber-stamping an insurance package is simply not an optimal solution. The health care plans we offer are custom-tailored to your unique requirements.

As an independent group insurance agent, Taylor Online Benefits is not limited by the options available from any particular insurance carrier or any particular type of plan. You will have access to a wider variety of healthcare choices through our agency than if you were to settle for a single provider.

South Carolina’s health insurance marketplace is complex, and finding the best solution for your business requires expert help. For more information about the health benefits that local employers must offer under regulations set by the Affordable Care Act, see this webpage maintained by the South Carolina Department of Insurance.

Call Taylor Online Benefits at 800-903-6066 to discover the healthcare and benefits plan choices available to your business. We offer free estimates through our online request form, located on the right side of this webpage. There’s no obligation, so get started today!

South Carolina Large Group Health Insurance Plans

One of the significant components of the Affordable Care Act (ACA) is the requirement that insurers include coverage for the following ten minimum essential coverage benefits in all plans:

  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

In addition to the required inclusion of these group plans, health care services must be affordable, defined as charging premiums that do not cost more than 9.12 percent of the subscriber’s gross income. The coverage must absorb sixty percent of the cost for a typical patient.

In some states, insurance must cover more services. South Carolina has added to the requirements, mandating these benefits:

  1. Congenital anomaly (cleft palate)
  2. Diabetes care and supplies
  3. Reconstructive surgery following mastectomy
  4. Off-label prescription drug coverage

It’s also important to note that lifetime limits on coverage are prohibited. However, employers can choose the delivery structure for the plan they want to offer their workers, allowing them to provide one option or more than one that meets the other requirements. For example, the company can choose a traditional indemnity plan.

More commonly, businesses offer coverage through HMOs, PPOs, or Point of Service programs. Further, employers of any size can offer group coverage.

South Carolina Small Business Health Insurance Plans

Small businesses with fewer than fifty full-time employees don’t have to offer health insurance coverage per the provisions of the ACA, although many do. Since many workers want the benefit, businesses competing for talent make an effort. They also qualify for a tax credit of up to 50% of the employees’ monthly premiums.

Small Business Health Options (SHOP) is a resource that the ACA created to assist. Your firm can learn more about the discounts and support available by consulting with your Taylor Benefits Insurance representative. However, to qualify for small business health insurance plans, the number of employees should not exceed 50.

South Carolina Employee Benefits Plans and Employee Benefits Packages

South Carolina doesn’t require employers to provide health insurance coverage and any specific benefits to workers. The perks that employees prioritize are typically headed by health insurance coverage and paid time off, followed by these:

  • Family leave
  • Retirement support
  • Dental and vision insurance
  • Flexible working schedules
  • Childcare support (and elder care assistance)

Call 800-903-6066 for a free consultation on South Carolina Group Health Insurance & Employee Benefits Plans.

Learn more about employee benefit packages in South Carolina.

Relevant Statistics

  • Over 60% of businesses in South Carolina offer group health insurance to their employees.
  • The average annual premium for group health insurance in South Carolina is $6,800 per employee.
  • Approximately 90% of South Carolina residents with employer-sponsored health insurance have access to preventive care services.
  • Group health insurance plans in South Carolina cover an average of 84% of healthcare costs for participants.
  • More than 70% of small businesses in South Carolina with group health insurance plans report improved employee satisfaction and retention rates.

General Facts

  • South Carolina offers group health insurance plans for employers to provide coverage to their employees.
  • Group health insurance in South Carolina typically covers a range of medical services, including doctor visits, hospital stays, and prescription drugs.
  • Employers in South Carolina may choose to contribute a portion or all of the premiums for their employees’ group health insurance.
  • Group health insurance plans in South Carolina are regulated by state laws and must meet certain requirements for coverage and affordability.
  • South Carolina residents can access group health insurance through their employer or through professional or trade associations they belong to.

South Carolina Group Health Insurance & The Affordable Care Act

In recent years, there have been a number of significant changes in the rules and regulations around group benefits, especially with the passing of the Affordable Care Act (sometimes referred to as Obamacare). To maximize your business’ cost efficiency, you’ll need to understand the new opportunities made available under this act, as well as how to react in the face of some new challenges. Fortunately, we’re here to help.

Taylor Online Benefits has been helping businesses in South Carolina with affordable health insurance plans since well before the passing of the Affordable Care Act. Our experience and expertise have also been essential in helping our clients adjust to a changing marketplace with some new regulations.

Don’t worry: it’s easier than it sounds. We’ll work closely with you to explore:

  • What coverage options are currently mandated – both under South California state law and federally
  • What your business’ healthcare and benefits plan currently covers
  • How your business’ plan compares to your competitors
  • What your short-term and long-term goals are

Are you looking for a South Carolina Group Health Insurance & Employee Benefits Plan? Click the quote button to get an instant quote.

South Carolina’s Department of Insurance provides info to residents about their rights and reasonable expectations as health insurance consumers. Reading these pages can give you a better understanding of what your employees are looking for from their healthcare benefits. 

Looking for the ideal group health insurance plan for your South Carolina-based employer? There’s no better plan than the one custom-built to meet your needs.

Call Taylor Online Benefits today and discover how to offer health benefit plans to your eligible employees affordably – while satisfying your budget and propelling your company forward. Get started now with a FREE cost estimate!

Can small business owners in South Carolina get tax benefits for offering health insurance?

Yes, small business owners in South Carolina can receive tax benefits for offering health insurance to their employees. They may be eligible for a Small Business Health Care Tax Credit if they meet specific criteria, such as having fewer than 25 full-time equivalent employees and paying at least 50% of their employees’ premiums. 

Can employers in South Carolina contribute to HSAS for their employees?

Yes, employers in South Carolina can contribute to Health Savings Accounts (HSAs) for their employees. Contributions made by employers are considered employer contributions and are tax-deductible for the employer. Employees can also make contributions to their HSAs on a pre-tax basis. 

How much does health insurance cost in South Carolina?

Health insurance costs in South Carolina can vary depending on age, health status, and coverage options. On average, individuals in South Carolina can expect to pay between $300 to $600 per month for health insurance premiums. 

How does South Carolina Group Health Insurance compare to individual plans?

South Carolina Group Health Insurance offers lower premiums and better coverage than individual plans. Employers often subsidize group plans, providing more comprehensive benefits and lower out-of-pocket costs for employees. Individual plans may have higher premiums and fewer benefits. 

Can I customize my South Carolina Group Health Insurance plan?

Yes, you can customize your South Carolina Group Health Insurance plan. You can choose the coverage options, deductibles, copayments, and other features that best suit the needs of your group. However, the extent of customization may vary depending on the insurance provider. 

What factors determine the cost of South Carolina Group Health Insurance?

The cost of South Carolina Group Health Insurance is determined by factors such as the number of employees covered, the level of coverage selected, the age and health status of employees, the business’s location, and the chosen insurance carrier. Other factors may include industry type and employee demographics. 

Are there any restrictions on who can qualify for South Carolina Group Health Insurance?

In South Carolina, eligibility for group health insurance typically depends on factors such as the number of employees and the type of business entity. Small businesses may have different requirements than giant corporations, and some insurers may have specific eligibility criteria. 

How does South Carolina Group Health Insurance impact employee retention?

Group Health Insurance can positively impact employee retention by providing employees with access to affordable healthcare benefits. This can improve job satisfaction and loyalty. Offering comprehensive health coverage can also attract top talent to the company and reduce turnover rates.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in South Carolina

South Carolina residents must obtain health insurance per the rules of the Affordable Care Act, popularly known as Obamacare. While South Carolina state law does not require businesses to offer group health plans to their employees, the ACA stipulates that every company with more than 50 employees must.

Below are some of the most frequently asked questions regarding health insurance coverage.

In South Carolina, What Is Considered a Large Group for Health Insurance Plans?

The basic idea behind a large group health plan is that it covers an organization with more than 50 employees, which means they may face penalties if they fail to offer health benefits. There is no maximum number for coverage, so whatever the size or sector of your business, you can purchase health insurance to protect your employees.

Because the insurance company can spread the risks among a larger group, coverage policies are often less costly than those for small groups or individuals.

What are Small Business Group Health Insurance Providers in South Carolina?

In South Carolina, the following businesses provide Small Business Group Health Insurance:

  • Kaiser Foundation Group
  • Unitedhealth Group
  • Coventry Corp. Group
  • Humana Group
  • Blue Cross
  • HIP Insurance Group
  • UHC of California
  • State Farm
  • eHealthInsurance
  • Blue Shield
  • Metropolitan Group
  • HCSC Group
  • Carefirst Inc. Group

What Are the Different Types of Benefits Offered in South Carolina?

Employees are becoming better informed about the potential for employer-sponsored benefits packages. As a result, more companies provide reasonable health and retirement programs for their employees. Small and big organizations can make use of the following benefits:

  • Health Insurance — a company’s health benefits program can play an important role in an employee’s evaluation of competitive employment offers.
  • Vision & Dental – These benefits can be costly, so some business owners try to save money on vision and dental insurance by selecting a less expensive plan or just giving a discount
  • Retirement and 401(k) – It’s more vital than ever to plan for the future, and even young employees understand the advantages. Differentiate yourself from the competition by providing a suitable retirement plan for your employees.

What Percent of Health Insurance is Paid by Employers?

Large businesses must ensure that the premium share that the worker pays is not more than 9.12 percent of their gross income.

Overall, most companies share the cost with their employees, and the average employer contribution in South Carolina is 75 percent of the cost for individual coverage. If the employee adds dependents to the plan, they can expect to pay a greater share.

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