Reno Group Health Insurance & Employee Benefit Plans

The City of Reno has been on a steady rebound from the effects of the great recession and is now ranked among the ten most livable mid-sized cities in the U.S. This city has also been named one of the best cities for mid-career professionals not just in Nevada but also countrywide. However, the presence of a skilled work force in Reno does not guarantee productivity. Employers, especially in small businesses, have a challenge attracting and retaining quality employees as well as maintaining a productive and healthy work force. To lessen the turnover, employers need to offer their employees more than a paycheck.

Group health insurance and employee benefits

There is no state law that requires employers to offer group health insurance to their employees in Reno. However, most employers in this city provide this benefit. Providing group health insurance and employee benefit packages is a great move towards recruiting and retaining employees. If you opt to provide your employees’ healthcare insurance you need to cover certain benefits as mandated by Nevada’s insurance laws. Group coverage goes a long way in reducing the amount of money paid in premium costs. It reduces the carrier’s risk through creation of a pool of individuals that are together for other reasons besides just obtaining insurance.

Reno NV Large Group Health Insurance Plans

Companies with more than fifty employees are subject to the ACA (Affordable Care Act) mandate to offer health insurance. They must also ensure that the insurance they offer provides the essential benefits the ACA requires and meets the affordability standards. Companies can use any insurance they prefer, whether they choose a PPO, HMO, or POS, if it offers the coverage and affordability that the ACA requires.

Enabling workers to choose between plans makes sense for many companies. For example, some people may want a “bare-bones” option with a lower premium but those costs more for services that the subscriber uses. These plans may be attractive to subscribers who don’t anticipate heavy use of their insurance and can afford to pay the expenses as they occur. Others want the security of a lower deductible and lower co-payment, even if the monthly premium is higher. Still others prefer the flexibility of a POS or PPO structure rather than the restrictions of an HMO network. If a large company has enough workers to justify the variety of plan choices, workers will likely be more satisfied with their program.

Reno NV Small Business Health Insurance Plans

Small companies with fewer than fifty employees aren’t required to offer health insurance. But many smaller companies want to provide benefits as part of their strategy to compete for top-quality workers. The Bureau of Labor Statistics reports that almost half of small companies offer health insurance and often pay part of the subscriber’s cost. Small firms can obtain assistance in creating and managing insurance plans by going to the SHOP (Small Business Healthcare Options Program), created by the Affordable Care Act. Ask your Taylor Benefits Insurance consultant for more information.

Reno NV Employee Benefit Plans and Employee Benefit Packages

An excellent benefits package can serve several purposes for large and small businesses—attracting and retaining key workers and helping employees live their best lives. Companies in competitive labor markets like Reno need to provide a benefits plan that will grab the attention of workers but also stay on budget.

Nevada requires that large companies offer paid leave based on the time an employee works, up to work hours per year. Workers can use the time off for illness or whatever purpose they prefer. Employees also prioritize benefits like flexible scheduling, remote work, family leave, casual office culture, and wellness programs.