Although group health insurance is an important part of your employee benefits package, committing to a particular carrier can be a major undertaking. The health of your employees – your most valuable asset – is impacted by the decisions you make. With the rising costs of healthcare, employers walk a fine line between cost containment and providing valuable benefits to attract and retain top talent. At Morin Associates LLC in Groton, Connecticut, insurance is what we do. We can assist you with your group insurance needs and help you optimize your health plan RFP.
Cost of Group Health Insurance
Once your application has been approved, the insurance company will assess your group based on criteria including the location of your business, the size of your company, and the age of your employees to arrive at a final rate. Since the Affordable Care Act was passed, employee health and pre-existing conditions no longer affect group health insurance rates.
Group Health Insurance Tax Advantages
Small business owners may be eligible for tax credits up to 50% of employer contributions to employee health insurance premiums. Under the Affordable Care Act, businesses with fewer than 50 full-time employees are not required to provide group health benefits and will not face any tax consequences if they do not offer these benefits. However, companies that employ 25 or fewer employees who earn an average annual wage under $50,000 are eligible for special tax credits, provided the employer contributes a minimum of 50% of employee insurance premiums.
As of 2016, under the Act, employers with 50 or more full-time employees are required to provide affordable health insurance to employees or pay a tax penalty. Our agent at Morin Associates LLC can help you select the right group health insurance plan with an eye to the bottom line.
Top Rated Group Health Insurance Providers in Connecticut
Morin Associates LLC stands out as one of the premier group health insurance providers in Connecticut (CT). With years of experience and a commitment to excellence, we offer tailored group health insurance plans that meet the diverse needs of businesses across the state. Our expertise in navigating the complexities of group health insurance ensures that companies of all sizes receive the best possible coverage for their employees. As trusted group health insurance providers, Morin Associates LLC knows the importance of comprehensive and affordable health insurance options. We work closely with each client to design customized plans that provide extensive benefits while maintaining cost efficiency.
Choosing the right group health insurance provider in CT is crucial for the well-being of your employees and the overall success of your company. We pride ourselves on offering a range of insurance solutions that cater to the unique requirements of your workforce. From small businesses to large corporations, our plans are designed to offer robust coverage, including preventive care, medical treatments, and wellness programs. We provide ongoing support and consultation to ensure that your group health insurance plan remains relevant and beneficial as your business grows and evolves. Our knowledgeable team is always available to answer questions, address concerns, and provide guidance on optimizing your health insurance coverage.
Partner with Morin Associates LLC, the leading group health insurance providers in CT, and experience the difference that personalized, professional service can make. Trust us to deliver exceptional group health insurance solutions that prioritize the health and well-being of your employees while supporting your business objectives. Contact us today to learn more about our comprehensive group health insurance plans and how we can help your company thrive.