For most employers, health insurance is the most important benefit they can offer to their employees. It serves as a great recruitment and retention tool, and while it can sometimes make business owners and HR managers want to pull their hair out, they also realize that their workers appreciate and may even expect it. Still, finding budget-friendly options your employees actually want can be a challenge. So can keeping up with all the plan changes and compliance requirements created by the Affordable Care Act. And explaining everything in a way your employees will actually understand may be the most difficult task of all. Fortunately, we can help with all of that.
JME Insurance Agency can help you with all of your employee benefits needs.
Click the icons below for more information or give us a call at 972.245.0266.
To get a group quote, simply contact our office at 972-245-0266. JME will educate you on the most current industry trends, present your options in a simplified format, an make recommendations based on the unique needs of your company and your employees.
Offering a Full Range of Core and Ancillary Benefits
For decades, companies large and small have offered group health insurance to their employees. Not only does a good health plan help a company attract and retain quality employees, it can create a healthier, more productive workforce.
The amount an employer spends on group health insurance is, of course, tax deductible as a business expense. Additionally, any amount an employee pays for health insurance and other benefits through a section 125 Premium Only Plan lowers the employee’s taxable income and, thus, lowers the employer’s payroll taxes.
Employees do appreciate the benefits their companies offer, especially the group health plan, and benefit not only from the employer contribution to premium but also from the company’s buying power—employees and their family members often end up with a better plan for a lower price than they could obtain in the individual market.
For all these reasons, most employers have tried to hang on to their group health plans even as premiums increase on an annual basis. The Affordable Care Act, which was signed into law back in 2010, has certainly had an impact on those premiums, but it affects employer plans in many other ways. Large employers, for instance, are now required to offer coverage to full-time employees or face a big tax penalty. With the employer mandate requirement, the definition of “full-time employee” has changed as well to include all employees working 30 hours per week or more. There are also new compliance and reporting requirements that are confusing and frustrating to employers.
In short, there are a lot of great reasons for a company to offer health insurance to its employees, but it’s also a lot more costly and time-consuming than it used to be. That’s why employers need a great benefits advisor that can help them find the right plan or plans for their employees while making sure they’re complying with all of the new laws.
At JME Insurance Agency, we’re employee benefits experts. Our experiences agents can help your company not only with your group health plan but with all of your employee benefits needs. Contact us today to learn more.
Next to health insurance, dental insurance is probably the most popular employee benefit, and for that reason it’s something every employee should at least consider.
While many employees are healthy and may rarely use their health coverage, almost all employees—along with their family members—take advantage of the dental benefit. At about a tenth of the price of health insurance, group dental coverage is a great way for a company to spend its benefits dollars.
There are a number of great dental insurance companies to choose from, and the plan designs range from preventive only to comprehensive DHMO (dental health maintenance organizations) with contracted provider networks to passive PPOs and indemnity plans. The covered benefits, waiting periods, and annual maximums also differ from plan to plan, which can make it confusing for a company to compare all its options.
JME Insurance Agency can help simplify this process. Our licensed agents will explain how dental insurance works, shop the market and present you with a number of options, and help you select a plan that’s right for your employees. Learn more.
Life & Disability Insurance
One of the best ways a company can use its group buying power is to purchase life and disability insurance for its employees. A lot of people don’t have any life insurance, even though everyone needs it, and those that do have it usually don’t have enough. Even fewer people have disability coverage, even though a short- or long-term disability can be financially devastating for a family.
The good news is that group life and disability insurance is very budget-friendly. It’s a great way for a company to round out its benefit package and make sure that its employees are taken care of.
JME Insurance Agency works with several leading life and disability insurance companies, and we would be happy to talk with you about your options. Learn more.
Tax Favored Accounts
There are three types of tax-advantaged accounts employers can set up to help their employees with their eligible medical expenses. Each of these accounts has certain advantages, but there are also rules about how to set up and administer the accounts. That’s why JME Insurance works with some great third party administrators (TPAs) to make sure your plan is set up correctly and beneficial for your employees. Learn more.
What Our Group Clients Are Saying
Ability Connection Texas began working with Susan Murray and her staff at JME Insurance during the renewal period for our 2010 Group Medical Plans. From the very beginning, Susan made us very comfortable by listening to what it was we wanted to be able to offer our employees … which were plan options that were competitive in pricing for not only our agency, but our employees. Susan and her staff worked hard to ensure both were accomplished, and we’ve been extremely satisfied with our plans and the great customer service JME has to offer. Anytime our employees or I need assistance, they are readily available and get a quick resolution. The outstanding knowledge and compassion shown to our employees has given the employees, and me, a true sense of security that we made the right choice to give our allegiance to JME Insurance. Susan and her staff are folks you can trust to work with you and for you to achieve the best options for your organization. Thank you, Susan Murray and all staff members of JME Insurance … YOU ALL ROCK!
Have Questions? Ask Them Here.
Latest Employee Benefits Updates
Deductible and Out-of-Pocket Limits The Internal Revenue Service has announced the deductible, out-of-pocket, and contribution limits for HSA-qualified plans for the 2018 calendar year. The minimum deductible increased by $50 for individuals, from $1,300 to $1,350, and by $100 for families, from $2,600 to $2,700. Meanwhile, the out of pocket…
With the first few weeks of 2017 now behind us and a new administration in the White House, we thought this would be a good time for a quick update. Here are few items that you’ll want to be aware of: Health Reform and the New Administration We know a…
Great news! Blue Cross and Blue Shield of Texas has reached and agreement and signed a new contract with Texas Health Resources and Texas Health Physicians Group (Texas Health) that will keep Texas Health in the HMO Blue Texas (Blue EssentialsSM), Blue Choice PPOSM (BCA), Blue Advantage HMOSM (BAV) and Blue…
Below is a notice from the National Association of Health Underwriters about today's IRS announcement that it would extend the deadline for providing forms 1095-B and 1095-C to their employees. Today, the IRS released Notice 2016-70, which extends the due dates for certain information reporting requirements for 2016 imposed by…
Beginning January 1, 2017, all small group and individual metallic plans will experience a change to their Preferred Retail Pharmacy Network which allows members to pay the lowest copayment at a network of pharmacies designated as preferred. The preferred pharmacy network includes: Walgreens Walmart (including Sam’s Club Pharmacy) Albertsons (including…
NOTE: The following announcement applies to Blue Cross Blue Shield of Texas ACA-compliant individual, small group, and mid-market plans but NOT to grandfathered or transitional small group plans (there are no significant changes to the formularies or preferred pharmacy networks for those plans at this time). EFFECTIVE JANUARY 1, 2017:…
Your group renewal will be coming soon. If your group is 25 or more enrolled (6 or more with some other carriers) and has excellent claims vs. premium history, we will also request a quote from BCBSTX for their partially self-funded plan called Blue Balance Funded. With group size of…
For all BCBSTX groups, the annual deadline for information pertaining to employee count is 8/26/2016. This information is used for the following: To determine if the group plan or Medicare is primary when a member has Medicare To determine if COBRA or State Continuation rules apply when an employee leaves…