South Dakota Group Health Insurance & Employee Benefit Plans

Affordable, Comprehensive Group Benefits For South Dakota Businesses

Welcome to Taylor Online Benefits! We’re a leading provider of employee healthcare and benefits packages to South Dakota businesses just like yours. Our goal is to help you provide competitive, compliant, and affordable employee insurance options – by creating a plan that’s custom-built to your requirements.

Your business is unique, and the odds are strong that no pre-packaged insurance plan is going to be 100% optimal for it. That’s why Taylor Online Benefits works with you to create better options, including:

Taylor Online Benefits is an independent group insurance agent. That means we are not limited to any one particular insurance carrier’s packages, or to any particular type of insurance and benefit plan. As an employer, working with us will open your business and employees to a far greater variety of healthcare choice than if you were to settle for a single provider.

For more information about the specific benefits that employers must offer in company healthcare plans, especially under provisions of the Affordable Care Act (sometimes referred to as Obamacare), see this webpage maintained by the South Dakota Department of Labor & Regulation.

Taylor Online Benefits is here to help you discover the best path forward for your unique needs. Call us for more info at 800-903-6066, or use the online request form to the right for your free estimate. There’s absolutely no obligation, so get started today!

South Dakota Large Group Health Insurance Plans

Large employers in South Dakota have options to choose from when deciding the best way to satisfy their obligation to provide health insurance to their workers. Because of cost considerations, many opt for preferred provider organizations, health maintenance organizations, and point of service structures. In addition, some allow a choice between two or more delivery structures to accommodate individual preferences. As a result, the employee might pay a higher premium depending on their choice. Still, at least one available option must meet the affordability standard (less than 9.61 percent of gross income for individual coverage.) Taylor Benefits Insurance advises you on the best plans for your team.

Coverage must include at least the ten essential benefits the ACA specified:

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

Plus, South Dakota has added these three:

1. Diabetes care supplies
2. Reconstructive surgery following mastectomy
3. Off-label prescription drug coverage

South Dakota Small Business Health Insurance Plans

Small companies don’t have to provide insurance coverage for their workers. But for those South Dakota companies that want to, there are helpful resources. For example, suppose you want to provide coverage through SHOP (Small Business Health Options Program) and have fifty or fewer employees. In that case, you can access qualifying plans through the marketplace or by talking to your representative at Taylor Benefits Insurance.

If you provide a SHOP plan, you must offer it to all eligible employees (those working at least thirty hours per week). Also, at least seventy percent of your eligible employees must enroll through your program or have insurance through another channel.

For small companies with fewer than 25 workers, tax credits may be available to support your administrative costs.

South Dakota Employee Benefit Plans and Employee Benefit Packages

Companies must find creative ways to attract the workers they want to hire and retain in a competitive job market. Studies across the U.S., including in South Dakota, show that workers care significantly about their benefits. As a result, businesses offering above-average benefits can stand out from the crowd.

If you want to boost your program, start with the basics: health insurance, paid time off, and retirement assistance are crucial for a benefits package. After that, look for some specific additions to appeal to your workforce. For example, suppose you have many recent college graduates who need help with student loan debt. Matching those loan payments is one increasingly popular way to support workers concerned about all the debt they must pay off. Or, if your employees are parents with young children, consider a childcare subsidy or flexible spending account contribution.

Think creatively about how to add to employee satisfaction without spending heavily. For example, many employees want flexible hours and remote work options. Depending on your company’s needs, allowing workers to shift their schedule or work from a different location might not have a financial cost. But in return, you could reap the reward of an engaged, dedicated team.