Virginia Beach Group Health Insurance & Employee Benefit Plans

Virginia Beach group health insurance plans
Taylor Benefits Insurance has more than 25 years of experience writing custom group healthcare insurance plans for clients. Clients consist of groups of at least 50 people. As an independent agency, Taylor Benefits Insurance is able to provide clients with more comprehensive plans for more affordable prices than other insurance providers or plans purchased through the federal exchange. We can do this because we are not in competition with them. We serve the healthcare needs of our clients, not the overall market.

If you want more healthcare insurance and coverage than is being offered to you, consider contacting an independent agency like Taylor Benefits Insurance today.

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

Virginia Beach VA Large Group Health Insurance Plans

Across the country, many large employers struggle to hold down health insurance costs. Insurance is always a high cost to the company, and under the ACA provisions, companies are limited in how much of the expense they can pass along to their workers. Overall health care costs, including premiums, typically lead inflation. The Kaiser Family Foundation reported this year that premiums for large group insurance have risen by over twenty percent in the last decade.

One method employers use to moderate costs is choosing high-deductible health plans (HDHPs). A high deductible plan must meet specific IRS guidelines to qualify the subscriber to establish an HSA (health savings account). For example, the minimum deductible for 2023 policies is $1,500 for an individual or $3,000 for family coverage. However, many of these plans have much higher deductible amounts in practice.

HSAs are valuable because participants contribute pre-tax dollars to their HSA, and many receive contributions from their employers. They use the funds to pay for qualified medical expenses, and any money not used in the year contributed can roll over indefinitely.

Virginia Beach VA Small Business Health Insurance Plans

Since companies with fewer than 50 workers aren’t obligated to offer insurance coverage under the Affordable Care Act, many decline to do so because of the high cost. However, including health insurance in your benefits plan can definitely help you attract the employees you want to hire.

Insurance providers are responding to rising costs with changes that can help companies hold down their share of the expense while still providing access for workers. Most subscribers can expect to pay a deductible and a copayment when they use their plan’s services. The popularity of high-deductible programs has risen, along with health savings accounts for those subscribers. HSAs are better than the old flexible spending accounts (FSAs) versions. They offer substantial advantages for paying premiums and other current costs with pre-tax funds and even saving for retirement. Consult your Taylor Benefits Insurance specialist for expert advice

Virginia Beach VA Employee Benefit Plans and Employee Benefit Packages

One way for employers to stand out from the competition when seeking to attract talented employees is to offer a high-quality employee benefits package. Often, large businesses offer more choices, but even small companies can include perks that help their workers. Some of the most widely requested benefits are:

  • Paid time off (vacation, holiday, and sick leave)
  • Family leave
  • Retirement support
  • Health Insurance
  • Dental and vision insurance
  • Flexible working schedules (including remote work)
  • Childcare support (and elder care assistance)

Group Insurance Benefits with Taylor Benefits Insurance

The following essential health benefits are included in all our group healthcare insurance plans. Clients can pick and choose which benefits they like, and whether or not they want increased amounts of coverage.

The great thing about customizability is that clients can determine which health benefits they want, and which they do not for their group healthcare insurance plan.

Virginia Beach group health benefits and employee insurance plans

Typical Problems with Group Insurance in Virginia Beach

Healthcare premiums on healthcare insurance plans purchased through the federal exchange are set to rise for Virginia residents in 2018, and could rise by 30.6%. This rise in premiums is much, much greater than what many Virginia residents will be able to afford. This means that, for many people, healthcare could soon become unaffordable, especially when considering that Virginia Beach residents already paid an average of $4,264 in 2015 for their healthcare costs.

If you are enrolled in an individual healthcare insurance plan you purchased from an established insurance provider, or through the federal exchange, you should consider switching to group healthcare insurance.

Group insurance plans are more affordable, and plans written by independent agencies like Taylor Benefits Insurance are not affected by the actions of the government or other insurance providers. Prevent your rates from increasing by switching plans today.

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Why Group Insurance is Better

Group healthcare insurance plans are objectively better than individual and family healthcare insurance plans. Group plans are cheaper. Group plans are more comprehensive. Group plans are more customizable. If you are not satisfied with the healthcare coverage and insurance you are currently receiving, you should consider switching to a group plan. Save your money and upgrade your benefits with a group healthcare insurance plan that is custom-written for you by an independent agency like Taylor Benefits Insurance.

The Taylor Benefits Promise

Contact Taylor Benefits Insurance for a free estimate and learn why group healthcare insurance is right for you. With a free estimate, you will be better able to judge the quality of your current healthcare insurance provider, and whether you should switch to a group plan written by an independent agency like Taylor Benefits Insurance. You are under no obligation to purchase a plan, and under no obligation to enroll in a plan, in order to receive your estimate.

Frequently Asked Questions About Health Insurance And Employee Benefit Plans in Virginia Beach, VA

To ensure that staff members can continue to contribute to the success of the company in which they are employed, a medical insurance plan should serve as a means of providing for their health and well-being while also serving to safeguard and defend it. Other benefits, such as financial assistance or educational advantages, are helpful. Still, employee medical insurance is typically the most common addition to a wage supplied in most parts of the world.

What Are Large Group Health Insurance Providers in Virginia Beach, VA, Virginia?

With various large group health insurance providers in Virginia Beach, these are some of the major ones in the marketplace

  • CareFirst BlueCross BlueShield
  • HealthKeepers, Inc.
  • Humana
  • UnitedHealthcare
  • UnitedHealthOne
  • Anthem BlueCross BlueShield
  • Bright HealthCare
  • Aetna Life Insurance Company

What are Small Business Group Health Insurance Providers in Virginia Beach, VA, Virginia?

Many significant businesses in Virginia Beach offer small business group health insurance; below are some of the prominent providers in the industry.

  • Allstate Benefits
  • Anthem BlueCross BlueShield
  • CareFirst
  • Kaiser Foundation Health Plan of the Mid-Atlantic States, Inc.
  • UnitedHealthcare

What Benefits do Employers Offer in Virginia Beach, VA, Virginia?

Providing perks to employees can quickly become an expensive endeavor, but you can only do so much as your budget will allow. The goal is not to become an outlier but to remain competitive in the market. Employees are used to paying a percentage of their health insurance premiums, so it’s essential to keep this in mind.

As a bonus, there are numerous low-cost (and even free) benefit alternatives to choose from. But where to begin? The following is a sample of standard compensation packages:

  • Dental Insurance
  • Retirement Accounts
  • Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs)
  • Life Insurance
  • Health Insurance Benefits
  • Flexible Schedules
  • Paid Medical Leave
  • Paid Holidays
  • Paid Vacation and Sick Time

How Much Do Employers Pay for Health Insurance?

Employer-sponsored health insurance premiums are determined by the size of your company and the type of coverage it offers. Employers don’t always pay for health insurance premiums, but there are some averages to consider.

Typically, employers are required to pay at least half of an employee’s insurance premiums. This lowers the cost of insurance for workers.

With the research from the Kaiser Family Foundation, employers are required to pay 82% for single plans and 71% for family plans which cost $5,306 and $12,865, respectively.

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