Lincoln Group Health Insurance & Employee Benefit Plans

Lincoln NE Large Group Health Insurance Plans

The Affordable Care Act implemented a mandate for large employers to provide health insurance for their workers. The law created requirements for adequate coverage, including an affordability standard. To meet that 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 must offer coverage for dependents but don’t have to satisfy the affordability standard.

Also, the plan needs 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:

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

Lincoln NE Small Business Health Insurance Plans

Small companies may have trouble affording health insurance for their workers, and they are exempt from the mandate if they employ fewer than fifty people. One option for small firms to consider is a High Deductible Health Plan (HDHP), combined with a Health Savings Account (HSA). For the plan to be eligible, the deductible must match the IRS minimum of $1,400 for an individual or $2,800 for a family. However, the deductible amount is much higher in many cases, reaching the out-of-pocket maximum. That maximum is $7,050 for an individual subscriber or $14,100 for the family.

Health Savings Accounts can help with expenses because the subscriber can use pre-tax income to pay for their medical costs. Sometimes, the employer also adds funds to the HSA. Also, suppose the worker has money in the account and they don’t use it in that calendar year. In that case, they can accrue it indefinitely and keep it in reserve for future needs, even into retirement.

Lincoln NE Employee Benefit Plans and Employee Benefit Packages

Even though Nebraska employers don’t have to offer benefits (excluding health insurance mandated by the ACA for large businesses), workers want these options. As a result, many companies recognize the value of providing benefits as a recruiting tool and to improve worker satisfaction.

Health insurance costs are high, but other benefits may be cheap or even free. For example, suppose it’s feasible for a company to allow flexible scheduling. Employees appreciate the chance to change their schedule to meet their personal needs if the company doesn’t need to enforce standard hours. In that case, it may save money while providing a perk for workers. Similarly, some employees want to be allowed to work remotely, which may not cost the company anything.

For the best group healthcare insurance plans, you need to go to independent agencies like Taylor Benefits Insurance. Independent agencies provide clients with better group plans because they are not in competition with established insurance providers or the federal Obamacare exchange.

Not satisfied with your current plan? Switch to group healthcare insurance and save money, while also getting more benefits for the money you pay. It is as simple as signing up.

Taylor Benefits Insurance has over 25 years of experience writing custom group healthcare insurance plans for clients. We can provide you with a plan you will not find anywhere else. Contact an independent agency and learn about the benefits of switching to group insurance today.