Washington, D.C. Group Health Insurance & Employee Benefit Plans

Healthcare plans crafted by Insurance providers, and plans offered through the federal or state exchanges, are often lacking in coverage. In addition, these plans usually follow a blueprint, ensuring that no plan is different. However, Americans are not monoliths and neither are their healthcare needs.

Americans need healthcare that is individualized towards those under a specific plan. Nowhere is this more apparent than with group healthcare insurance plans provided by independent agencies.

Independent agencies, like Taylor Benefits Insurance, offer custom group healthcare insurance plans that are not in competition with insurance providers or other plans offered in your area. Each plan is unique to reflect the unique needs of groups seeking coverage. At Taylor Benefits Insurance, we have more than 25 years of experience writing custom plans, and we can write a custom plan for you group as well.

Washington, DC Large Group Health Insurance Plans

For large companies, providing group health insurance plans for employees is a terrific competitive tool and a great way to help workers stay healthy and productive. That’s one reason why so many businesses include EAPs (Employee Assistance Programs) and wellness offerings in their healthcare coverage.

Wellness programs often include education and support for employees to improve their overall health or address specific concerns. For example, employers may include smoking cessation, fitness, weight management, stress reduction, onsite immunizations, biometric screenings, disease prevention, and nutrition improvement. Some companies offer discounts on health insurance premiums for workers who complete screenings or attest to their status as a non-tobacco user, for example.

EAPs are typically offered in conjunction with health insurance. In most cases, the services are available to the employee without regard for their plan participation or selection. For example, suppose an employee is enrolled in employer-sponsored health coverage and uses the EAP to obtain mental health services in a crisis. They would not pay any deductible or copayment or file any claims. However, typically if the issue isn’t resolved within the small number of visits provided by an EAP, the subscriber’s plan would then be used to pick up the need for ongoing help.

Washington, D.C Small Business Health Insurance Plans

One obstacle small businesses in Washington, D.C., may face when looking to provide health insurance to their employees is the high cost. Since the company has fewer workers, the per-employee cost can be higher. One good option to consider is a SHOP program. SHOP is the Small Business Health Options marketplace that the ACA created to assist companies with less than 25 workers. These companies may also qualify for tax credits if they provide health care insurance that meets certain specifications.

To qualify for the tax credit, small companies need to pay at least half the premium expense. However, most small companies that offer insurance pay more than half. According to the Kaiser Family Foundation 2021 survey, thirty percent of small companies pay the entire premium for individual coverage for their workers (if they offer insurance), and only three percent pay less than half the cost.

Washington DC Employee Benefit Plans and Employee Benefit Packages

Employee benefits packages are a crucial part of overall compensation and average about thirty percent of the cost of an employee. In many cases, the most significant benefit expense component is health insurance. Still, a great benefits package includes more and can be customized to reflect the employer's culture and budget.

Employees generally prioritize paid time off, which makes sense from their perspective and makes sense for an employer that wants productive, happy workers. Everyone needs a break, and paid time is vital to encourage employees to rest and recharge. Some progressive companies have moved away from accrual systems to provide their workers with "unlimited" leave. The term is a bit misleading since excessive use would likely be considered a performance issue. However, such policies generally don't issue specific hours or days that an employee can take off for vacation, illness, or personal matters. Instead, the worker can schedule time away from work as needed, with their manager’s agreement and subject to the firm’s needs.

More traditional firms often provide a bucket of time for a vacation that is based on the employee's tenure with the firm, some paid holidays (the number varies mainly by industry), and sick leave based on local regulations. In D.C., the paid sick time requirements vary according to the company’s size. For small companies with fewer than 25 workers, the federal minimum of 24 hours is required. If the firm has 25 to 99 workers, the minimum is five days, and for companies with 100 or more workers, each must have access to seven paid sick days.