Tackling Small Group Health Insurance with Taylor Benefits

Tuesday, March 26, 2024 20:51 Posted by Admin
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What Is Small Group Health Insurance?

Small-group health insurance is designed to help small to mid sized businesses offer health coverage to their employees. Companies that have 50 full-time employees or fewer (with some exceptions) can easily provide coverage using a small-group plan. Small-group plans emerged on the insurance market in 2014 implemented by the Affordable Care Act (ACA). The ACA requires that businesses over a certain size provide their employees with health insurance coverage. Small group plans make it far simpler to do so.

The way small-group insurance is constructed, employee medical histories are prohibited from being used to determine premiums. Additionally, small-group plans cap premiums for older employees at three times what younger employees are required to pay. This ensures that premiums more equitable among employees who are getting coverage. While most states define small-group plans as serving 50 or fewer employees, a handful uses the standard of 100 or fewer. Regardless of the exact legislation, ACA-compliant small-group health insurance has to cover the law’s essential health benefits.

How Much Does Small Group Health Insurance Cost?

How much small-group health insurance costs can differ based on your company size and other factors. Generally, premiums are priced around $409 per month. This is about $30 cheaper per month than the average individual plan. Small-group health insurance costs also vary between states and companies but have an average deductible of about $3,140. This costs significantly less compared to about $4,578 for the average individual plan. Companies usually find small- group health insurance costs less, which potentially makes a big difference financially for smaller companies and their employees.

How Can Small Group Insurance Benefit You?

There are a number of benefits to obtaining small-group health insurance for your employees.

Potential benefits include:

  • Saving your business’ and your employees’ money
  • Lowering health insurance costs for you and your employees
  • Keeping your business legally compliant with the Affordable Care Act (ACA)
  • Allowing you to gain access to better insurance plans and rates
  • Qualifying your business for tax incentives in exchange for offering employees insurance
  • Providing quality care for your employees, improving their morale, and protecting their families, most importantly.

How Can Taylor Benefits Insurance Agency Help?

Taylor Benefits Insurance Agency has been helping businesses like yours for more than three decades. We help companies provide their employees with quality group health insurance and employee benefit packages. Our clients are located throughout the nation and come from varying industries. We are a top group health insurance broker nationwide, specializing in employee benefit plans.

Taylor Benefits focuses on securing the right group insurance plans for businesses of all sizes. From our home base in San Jose, California, it’s our mission to find the perfect coverage for every client. Best of all, we focus on tailoring potential plans to each company’s unique needs and budget. With Taylor Benefits, you have access to every insurance carrier in the United States and through our complementary online HR management system. Contact us today to find the best small group health coverage for your business.


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.

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