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New Orleans Health Insurance Benefits for Your Business

new orleans health insurance benefits

If you own a business in New Orleans health insurance benefits are a great way to attract high-quality candidates to your company, keep your employees healthy and happy, and to even receive important tax benefits for your business. Some of the great health insurance benefits that New Orleans businesses can offer their employees include:

  • Major medical health insurance
  • Life insurance
  • Dental insurance
  • Short-term and long-term disability coverage
  • Cancer care coverage

Through a PEO like Canal HR, health insurance benefits for your New Orleans business are more accessible than ever before. Keep reading to learn about the health benefits that your business needs.

New Orleans Health Insurance Benefits: Common Offerings

Employer-sponsored health insurance is extremely common: Over half of insured Americans receive health coverage through their employer. Employees are also far more likely to stay with their current employer if their health insurance benefits are valuable. Let’s review the most common health insurance benefits that New Orleans businesses should consider offering to their employees. 

Major Medical 

Major medical health insurance provides coverage for both general medical services, such as annual check-ups and more serious injuries or illnesses. Generally, major medical is the most common type of health care coverage that employees receive through their employer. When an employer provides major medical coverage to employees, it is generally through a group health insurance plan where the employer pays the premiums.

The type of group health insurance plan you select will determine how employees can use their benefits and seek out healthcare services. The two most common group plans are Health Maintenance Organizations (HMOs) and Preferred Provider Organizations (PPOs). Traditional plans are a third common option that many of our own clients choose. As a New Orleans business owner, you have varying options for the types of health insurance benefits you can offer to your staff. 

With Canal HR, New Orleans health insurance benefits like major medical coverage are easy to navigate. Through either traditional, HMO, and PPO plans, you can ensure that your company’s health benefits can accommodate both preventative and immediate healthcare needs. 

Life Insurance 

Life insurance is among the most common insurance benefits that employers offer — it’s also one of the most convenient and helpful insurance plans that you can offer your employees. 

Through “group-term” (also called “voluntary term”) life insurance, the employer serves the policyholder and pays premiums to the insurance company in exchange for employee benefits.

In the unfortunate event of an employee’s death, the life insurance provider pays their beneficiaries a lump sum known as a death benefit to help cover end-of-life expenses. 

While it can be a difficult topic to discuss, life insurance is an integral part of any New Orleans company’s health insurance benefits package. Canal HR partners with Transamerica Life to offer businesses life insurance plans that are easy to administer, come at lower cost than private health insurance, and give your employees and their beneficients peace of mind. All your employees will need to do is update their policy info and beneficiary list on an annual basis. 

New Orleans Health Insurance Benefits: Additional Offerings

Dental, short-term and long-term disability, and cancer are highly valuable insurance benefits for employers to consider offering. With Canal HR, you can offer your employees these additional health insurance plans at an affordable cost and help your business stand out in the job market. 

Dental Insurance 

Dental insurance is occasionally included in certain major medical health care plans. However, dental coverage generally requires a separate insurance plan. Though the Affordable Care Act (ACA) doesn’t require employers to offer this coverage, dental coverage is a highly sought-after benefit among many job candidates. 

If you’re a small business owner in New Orleans, you may wonder if health insurance benefits like dental coverage are something you can afford. Thankfully, your business may qualify for a tax break in order to cover dental premiums. If your business meets the following measures, you can qualify for these tax breaks:

  • Fewer than 25 full-time employees
  • Average employee wage is less than $50,000 per year
  • Your business agrees to pay a minimum of 50% of premium costs

Supplemental Insurance Benefits: Short- and Long-Term Disability and Cancer Care

Both disability insurance and cancer care coverage are considered supplemental health insurance plans, which are meant to cover serious healthcare needs that traditional medical insurance is not meant to cover.

Disability insurance protects a percentage of an employee’s wages in the event that a non work-related incident has left them unable to work. Also called income-protection policies, both short-term and long-term disability health insurance plans are a good alternative to federally-funded programs.  

The difference between disability insurance and workers’ compensation insurance is that the latter is designed for workers who have been injured while on the job. For New Orleans employers, it’s important to note that most Louisiana disability insurance plans will protect around 60% of the employee’s earnings.

Cancer care plans may include short or long-term disability coverage, but may also include hospital indemnity insurance and long-term care insurance. Most people who must undergo cancer treatment will definitely need cancer care coverage in order to supplement the cost of their needed services. 

New Orleans Health Insurance Benefits Through Canal HR

New Orleans business owners know the importance of caring for employees in unforeseen circumstances. With Canal HR, New Orleans health insurance benefits packages can be both flexible and comprehensive to best serve your company’s many needs. 
From major medical plans to supplemental coverage, we have helped many local businesses develop insurance coverage plans that they need to stay healthy and happy. Get in touch with us today through the Canal HR website to learn more about employee benefits, worker’s compensation, payroll administration services, and more.