- Providing world class service and value for employee benefit group plans since 1987
For nearly 30 years, Taylor Benefits Insurance Agency has been servicing the nation’s businesses by providing them with low-cost healthcare insurance and employee benefit options. Offering a flexible, low-cost group plan will help your Washington company attract and maintain experienced crew members.
To receive the best options and the lowest premiums and rates, give us a call, and we will even provide you with a FREE quote. We will evaluate how many employees you have in your company and advice accordingly.
Our experienced and licensed insurance brokers will discuss all your medical insurance and employee provision plans before giving you an estimate. During the creation of your health solution, we will make sure that it remains in compliance with the requirements of the Affordable Care Act as well as all local, state and federal laws. This will keep your company from facing government penalties. It also qualifies your business for tax breaks.
Throughout the duration of the term of your plan, we conduct yearly audits to make any necessary adjustments while assuring you continue to meet the standards of the healthcare act.
Our insurance agents are able to modify your program and make adjustments whenever you find it necessary. They’ll even negotiate the costs of your plan as well as your premiums with the insurance carriers to find you the lowest possible prices. We want to make sure that our clients and their employees remain happy with their policies. This will only help your business grow and rise above your competition.
While most large employers provided medical protection to their workforce even before the ACA, the legislation created certain entitlements that standardized insurance programs’ coverage. It also defines an affordable health program (currently, workers can’t be required to pay more than 9.61 percent of their gross income toward the cost of their premium for individual coverage). In addition, employers’ plans must pay sixty percent of typical expenses for patient care.
In WA, on average, employers pay 85 percent of the cost of coverage for their employees, and workers are paying a low amount (compared to other states) as a percent of median income. In addition, WA state has a detailed list of services that insurers must provide in addition to the ACA essential benefits. The requirements vary according to size but include chemotherapy medications, chemical dependency treatment, colorectal exams, contraceptive services, diabetes management, congenital abnormalities, and more.
Small businesses which choose to provide health insurance for their crews must also provide a plan that includes the ten essential components, but keep in mind that offering assurance is not required for companies with fewer than fifty full-time workers (or full-time equivalent employees.)
Small businesses that offer healthcare protection coverage may be eligible for tax credits and assistance in accessing qualified programs. Taylor Benefits can help you evaluate your choices and look at small business health benefits to provide coverage while holding down costs.
In Washington, employees may be eligible for paid family and medical leave of up to eighteen weeks per year. The payment amount depends on the worker’s pay relative to state averages. Workers are also eligible for paid sick leave, with a minimum accrual of one hour for every forty hours worked. The law does not cover some exempt professional crew members.
More than half of workers in the state have employer-provided dental care coverage, and over 40 percent receive vision assurance. In addition, just over half have access to an Employee Assistance Program.
The premium tax credit is a subsidy the government provides to help lower-income individuals and families afford health protection premiums. It is based on income and household size, and can be applied in advance to reduce monthly premium costs or claimed on tax returns.
Individual plans can range from $420 to $503 per month, with silver plans being the most common option for balancing affordability and coverage.
We can improve access to affordable health care by expanding Medicaid, increasing funding for community health centers, and implementing telehealth services. To achieve better health outcomes, we should focus on preventive care, address social determinants of health, and promote healthy lifestyle choices. Reducing health disparities requires addressing systemic inequalities, increasing health education, and ensuring culturally competent care for all individuals.
Employee offerings can cost employers 30-40% of a staff member’s salary. This can vary depending on the type of benefits offered, the size of the company, and the industry. Some common benefits include medical protection, retirement plans, paid time off, and bonuses. Overall, providing staff benefits is an important investment for companies to attract and retain top talent.
Health costs are soaring in Washington state due to rising prescription drug prices, increasing demand for healthcare services, a shortage of healthcare providers, and the high cost of medical technology and equipment. Additionally, the aging population and prevalence of chronic diseases are driving up healthcare costs in the state.
Long-term disability coverage is important because it provides income replacement if you cannot work due to a disability. Health assurance only covers medical expenses, not lost income. Both types of coverage can provide comprehensive protection in case of a disability.
Short-term disability coverage provides income replacement if you cannot work due to a non-work-related injury or illness. Medical protection covers medical expenses but does not provide income replacement. Having short-term disability coverage can help protect your finances if you are unable to work for some time.
The state does not offer free medical insurance. Still, programs like Medicaid and the WA Health Benefit Exchange provide low-cost or subsidized health benefits options for eligible individuals and families. These programs help make health insurance more affordable for those who qualify based on income and other factors.
Employers are not required to offer business medical insurance to their employees. However, if they choose to offer it, they must comply with state regulations regarding coverage and benefits. Employers with 50 or more workers may be subject to the Affordable Care Act’s employer mandate to provide healthcare insurance.
In Washington State, employees have the right to a safe workplace, fair wages, protection against discrimination and harassment, access to medical leave, and the right to organize and bargain collectively. They also have the right to file complaints with the Department of Labor & Industries if their rights are violated.
Employers are considering alternative solutions such as health reimbursement arrangements (HRAs), health savings accounts (HSAs), and individual health assurance packages. They may also offer wellness programs, telemedicine services, and other health-related benefits to support their staffs’ well-being.
The best medical protection in Washington state can vary depending on individual needs and preferences. Some top options are Premera Blue Cross, Kaiser Permanente, Regence BlueShield, and Group Health Cooperative. It is recommended to compare coverage, costs, provider networks, and customer satisfaction ratings to determine the best fit for your specific healthcare needs.
The number of employees required to qualify for team health insurance varies depending on the insurance provider and the type of plan. Generally, most protection providers require a minimum of 2-50 crew members to qualify for collective healthcare protection. Some providers may have different requirements, so checking with the specific insurance company for their eligibility criteria is best.
When shopping for the best health insurance package, consider coverage options, network of providers, premiums, deductibles, copayments, out-of-pocket costs, prescription drug coverage, and customer reviews. Choosing a solution that meets your healthcare needs and budget is important.
Some Medicare Advantage programs offer coverage for dental services such as cleanings, exams, fillings, and extractions. However, coverage can vary depending on the specific plan, so it’s important to review the details of each program to understand what dental services are included. Additional standalone dental plans may also be available for purchase to supplement coverage.
To enroll in Washington individual and family insurance, visit the WA Healthplanfinder website and create an account. You can then compare schemes, see if you qualify for financial assistance, and enroll in a solution that meets your needs. You can also enroll over the phone by calling the WA Health Benefit Exchange customer support line.
To compare Medicare programs, you should consider coverage options, costs (premiums, deductibles, copayments), network of doctors and hospitals, prescription drug coverage, and quality ratings. You can use the Medicare Plan Finder tool on the official Medicare website to compare plans based on your specific needs and preferences. Additionally, you can contact Medicare directly or speak with a licensed insurance agent for personalized assistance in comparing plans.
What are the key benefits of WA Group Health Insurance for small businesses?
How does Washington Collective Health Insurance support mental health services?
Washington Team Health Insurance supports mental health services by providing coverage for counseling, therapy, and medication. It may also offer resources such as mental health hotlines, online therapy platforms, and access to mental health professionals. Additionally, WA team medical protection may partner with mental health providers to ensure their members can access quality care.
Here are some answers to common concerns regarding medical coverage programs:
A large business health insurance package is a solution for businesses with more than 50 employees in most states. There is no legal maximum threshold for companies to be eligible for large team insurance; as long as a company has more than 50 workers, it can qualify for large group assurance.
While collective programs are easy to work with, they provide the same health benefits for all crew members. However, employers need not worry about subsidized coverage if one of their staff has unique requirements.
When an employer purchases a small staff health insurance, eligible employees can enroll if they choose to participate. As long as a business has 50 or fewer staff members, they qualify for small-business medical protection. Small team health insurance works by providing all participating members with the same medical coverage benefits. The health care coverage would depend on the employer’s plan and health protection company and the rates and premiums. Whether small or large, most group assurance requires at least a 70% participation rate from team members.
What an employee gets in their staff benefits package largely depends on their company. However, some standard benefits are commonly offered to crew members in their benefits packages, such as medical assurance, paid time off, life insurance, dental insurance, retirement, flexible savings account, paid vacations, and sick leave. Others may include paid holidays, gym membership, and even educational assistance. While these benefits are the more common, some companies may provide additional benefits.
The cost of employee benefits packages generally depends on what is included and what the company offers. For example, a company offering additional benefits like pet protection and gym membership asides from the standard benefits like health insurance would have to pay more than one that offers only the common benefits. However, on average, it is estimated that staff benefits could amount to 31% of a staff member’s total compensation, while the remaining 69% comprises wages.
To arrive at the cost of staff advantages package, you’ll need to calculate the cost of each benefit you want to include.
What is group health insurance?
Group health insurance is a type of insurance plan that provides coverage to a group of people, typically through their employer. It offers a range of benefits, including medical, dental, and vision coverage, at a lower cost than individual plans. Group health insurance helps protect employees and their families against high healthcare expenses.
How does group insurance differ from individual insurance?
Group insurance is typically offered through an employer or organization and covers a group of people under one policy. It often has lower premiums and broader coverage compared to individual insurance. Individual insurance, on the other hand, is purchased directly by an individual to cover themselves and their dependents.
What are the largest health insurance companies in Washington state?
The largest health insurance companies in Washington state include Taylor Benefits Insurance, Premera Blue Cross, Regence BlueShield, Kaiser Permanente, and Molina Healthcare. These companies offer a wide range of health insurance plans to individuals and families in the state.
What are the top 3 health insurance providers in Washington?
The top 3 health insurance providers in Washington are Taylor Benefits Insurance, Premera Blue Cross, and Regence BlueShield. These companies offer a range of plans and coverage options to meet the diverse needs of Washington residents. Contact them for more information on their health insurance offerings.
What is considered a large group for health insurance in Washington state?
In Washington state, a large group for health insurance is typically defined as a business with 51 or more employees. Large groups often have access to more comprehensive coverage options and better rates due to their size. Employers with fewer than 51 employees may be considered small groups.
How does large group insurance differ from small group insurance in Washington?
Large group insurance in Washington typically covers organizations with 51 or more employees, offering more flexibility in plan options and potentially lower premiums per member. Small group insurance, on the other hand, is for organizations with 1-50 employees, providing fewer plan choices and potentially higher premiums due to smaller risk pools.
What are the eligibility requirements for large group health insurance in Washington?
In Washington, large group health insurance eligibility requirements typically include having a certain number of full-time employees, meeting minimum participation guidelines, and contributing a specified percentage towards employee premiums. Employers must also adhere to state regulations regarding group health insurance coverage.
What is the average cost of health insurance in Washington state for large groups?
The average cost of health insurance in Washington state for large groups can vary depending on factors such as the size of the group, coverage options, and location. However, on average, large group health insurance premiums in Washington state range from $300 to $700 per employee per month.
What are the compliance requirements for offering large group health insurance in Washington?
In Washington, offering large group health insurance requires compliance with state regulations such as providing coverage to eligible employees, meeting minimum participation and contribution requirements, and adhering to premium rating rules. Employers must also follow federal laws like the Affordable Care Act.
Why are health insurance benefits crucial for attracting and retaining talent in Washington?
Health insurance benefits are crucial for attracting and retaining talent in Washington because they provide employees with essential healthcare coverage. In a competitive job market, offering comprehensive health insurance can help companies stand out and retain top talent in the state.
What are the best wellness programs for large groups in Washington?
The best wellness programs for large groups in Washington include corporate wellness workshops, team-building activities, fitness challenges, and nutrition seminars. These programs promote employee health and well-being while fostering a positive work environment. Contact local wellness providers for tailored options.
What are the tax benefits of offering wellness programs to employees?
Offering wellness programs to employees can lead to tax benefits for employers, as these programs are often considered a tax-deductible business expense. Additionally, certain wellness initiatives may qualify for tax credits, further reducing the overall tax liability for the company. These tax benefits can help offset the costs associated with implementing and maintaining wellness programs.
How can wellness programs help reduce health insurance costs for large groups?
Wellness programs can help reduce health insurance costs for large groups by promoting preventive care, reducing chronic disease risks, and improving overall employee health. This can lead to lower healthcare utilization and costs, ultimately saving money for both the employer and the insurance provider.
What are the best dental and vision coverage options for large groups in Washington?
For large groups in Washington, the best dental and vision coverage options include group insurance plans offered by major providers like Taylor Benefits Insurance, Delta Dental and VSP. These plans typically offer comprehensive coverage for a range of services and are tailored to meet the needs of large groups in the state.
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.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
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