Wisconsin Group Health Insurance & Employee Benefits Plans

Wisconsin Group Health Insurance & Employee Benefit Plans

Whether you’re the owner of a small Wisconsin business or the Human Resources manager in a large corporation, you know it’s important to offer a comprehensive group health insurance and employee benefit plan to those who work for you.

Having group medical plans makes it easier for your company to draw the interest of and retain qualified, hardworking employees. Fortunately, by going through a reputable insurance broker, it is possible to find an affordable yet flexible health plan that satisfies the needs of your Wisconsin employees and their families.

Taylor Benefits Insurance Agency has been working in the insurance industry for over 25 years. We have helped businesses in Wisconsin and all over the nation get the right plan at an affordable cost. Due to our longstanding history in the industry, we have the opportunity to network with some of the leading insurance carriers around. This makes it possible for us to tailor our clients’ group health and benefits plans as necessary. We also negotiate with the carriers to obtain lower premiums for our clients.

Wisconsin Large Group Health Insurance Plans

Employers in Wisconsin enjoy lower health insurance costs than companies in many other states, which allows them to cover much of the cost for their workers and offer more choices. Eighty-seven percent of full-time employees in the state of Wisconsin have access to employer-sponsored coverage, and the employer pays an average of 78 percent of the cost for individual plans. In addition, while ACA affordability standards can accept employee premium shares up to 9.12 percent of that employee’s gross income, the average in Wisconsin is lower, with average workers’ contributions at 5.8 percent of median income.

Besides requiring coverage and setting affordability standards, the ACA requires any health insurance plan to include these essential services:

  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

Wisconsin has added more requirements to its mandatory list:

  • Home health care
  • Hearing aids
  • Clinical trials
  • Diabetes Care Management
  • Reconstructive surgery following mastectomy
  • Prescription drugs for HIV treatment
  • TMJ (temporomandibular joint) disorders

WTW (a global health consulting company) reported from its survey of insurers that companies are trying to hold costs down rather than pass them along to subscribers.

Wisconsin Small Business Health Insurance Plans

In Wisconsin, 99 percent of businesses are classified as small companies, employing half the state’s workers. That statement uses a very generous definition of small business owners, with up to 500 workers, instead of the more common 50 or 100-employee cap. The percentage goes down using one of those standards but still demonstrates that smaller companies drive Wisconsin.

Small businesses with fewer than fifty workers aren’t required to offer health insurance.

Still, if a small business owner wants to, the ACA SHOP (Small Business Health Options Program) can help. Talk to your Taylor Benefits Insurance specialist for guidance.

Note that there is no special enrollment period for small business health insurance.

Wisconsin Employee Benefits Plans and Employee Benefits Packages

Wisconsin has a Family and Medical Leave Act that requires companies with fifty or more workers to provide unpaid leave for employees in connection with birth or adoption, plus their illness or that of a family member. Other required breaks are for civic purposes.

Almost half of Wisconsin workers have access to dental care and a wellness program through their employer. Many companies recognize that providing benefits beyond basic health insurance is a great way to attract and retain talented staff.

Other benefits that state employees ask for include these:

  • Retirement savings support
  • Tuition reimbursement and student loan assistance
  • Flexible working schedules
  • Childcare support (and elder care assistance)

What Are My Group Plan Health and Benefits Options?

Not only do you have a plethora of health insurance and employee benefit options when you go through one of our licensed brokers at Taylor Benefits, but you can rest assured that your health plan meets all local, state, and federal requirements. We even conduct yearly audits to ensure that your business is always in compliance with the Affordable Care Act. Meeting these requirements will help your company avoid penalties and may help qualify your organization for tax breaks.

Give us a call today to learn more about your options for a group health and employee benefit plan. We will go over your options before presenting you with a FREE personalized quote!

Frequently Asked Questions About Health Insurance And Employee Benefits Plans in Wisconsin

Here are several answers to frequently asked questions about Wisconsin health insurance plans:

What Are the Benefits of Large Group Health Insurance plans in Wisconsin?

Large group health insurance can be rewarding for all members involved, including the employers. For example, the premium an employer pays is likely to be lower than the person can obtain on their own. Also, employers can get tax benefits for the premiums employees pay as health insurance. Overall, it helps improve employees’ loyalty to the company as they feel more valued, and that contributes to a positive work environment.

In Wisconsin, What Is Considered a Small Business Group for Health Insurance Plans?

Small business health insurance plans are medical insurance plans purchased by small employers with 50 or fewer employees.

What Are the Different Types of Benefits Offered in Wisconsin?

Employee benefits packages differ from company to company and generally depend on what they choose to offer to employees. In many cases, the package may include financial benefits like retirement and 401k and paid family leave. Another type may consist of health and wellness benefits like medical insurance, gym membership, sick pay, and a flexible working environment.

What Percent of Health Insurance is Paid by Employers?

Employers and employees typically share the cost of health insurance premiums, saving money for both parties. ACA rules require that employee premium expenses not exceed 9.12 percent of their gross income (that’s for individual coverage, not including any dependent premium costs.) In Wisconsin, employers pay an average of 78 percent of the premium cost for their workers to obtain individual coverage.

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