The Affordable Care Act requires big companies (employing fifty or more workers) to provide health insurance for their workers. The law established requirements for adequate coverage, including an affordability standard. To meet the affordability threshold, the employee’s share of the monthly charge must be less than 9.61 percent of their income. For example, if an employee’s pay is $50,000, the affordability standard is approximately $4,805. Employers also need to offer coverage for dependents but don’t have to satisfy the affordability standard.
Also, insurers must design the plan to pay at least 60 percent of the anticipated expense for medical services for a subscriber. And finally, every health insurance plan must cover these ten essential benefit areas:
Companies that employ fewer than fifty workers are exempt from the health insurance mandates in the Affordable Care Act. However, many small companies still offer coverage to their teams and even pay a significant share of the expense. Providing coverage is an excellent way for the company to attract top talent and contributes to the family culture the company might be encouraging. A broker like Taylor Benefits Insurance can help you find a suitable program for your workforce.
In Georgia, employers don’t have to provide any benefits except the health insurance mandated by the ACA mandates for large businesses. Even paid sick time isn’t necessary. Still, many companies recognize the value of providing benefits both as a recruiting tool and for the well-being of their employees and work to craft an attractive package. Health insurance costs are high, but offering other perks may be less challenging. For example, suppose it’s feasible for a company to allow flexible scheduling. In that case, it may save money while providing a perk for workers. Similarly, many employees want to be allowed to work remotely, which may not cost the company anything.
Employers who provide a comprehensive employee benefits plan attract and retain top professionals. Today, employee benefits are a major determiner of whether your employees will stay aboard or jump ship. A competitive salary, 401(k) plan and health insurance are three of the must-have benefits that you need to attract and keep top professionals in your company. A study by Watson Wyatt Worldwide found that companies that offer better employee benefit packages use them to not only attract but also retain the best caliber of staff while adding significantly to their bottom line.
Dial 800-903-6066 and get free consultation on Columbus Group Health Insurance & Employee Benefit Plans
Taylor Benefits offers group health insurance to businesses in Columbus. For our 30 years in the healthcare insurance industry, we know the value of health insurance and employee benefits for your employees. Consequently, we are committed to providing you a plan that meets your expectations and those of your employees. Our custom plans are guaranteed to lower your turnover and retain staff that is happier and healthier. Our experienced and licensed insurance agents work closely with you to craft a plan that is not only affordable but also compliments the needs of your business. From group healthcare insurance to retirement plans, we will give you a plan that will transform your business.
We offer a range of employee health insurance and benefit plans that include the following:
As an independent group health insurance provider, we work with a network of top insurance carriers in Columbus to give you an affordable and comprehensive employee benefits plan. We leverage our years of experience to craft a benefits plan that accommodates your bottom line while also meeting the needs of your employees. We are particularly keen on ensuring compliance of your plans so that you are not left out on tax credits.
Our licensed insurance agents are waiting to talk to you and help you develop a competitive group health insurance and employee benefits plan. Call us on 800-903-6066 or complete the request form for a free proposal.
Written by 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.
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.
We’re ready to help! Call today: 800-903-6066