News Summary
Texicare has introduced affordable health coverage plans tailored for small businesses in El Paso, aiming to bridge the gap in the health insurance market. Launching under Texas Mutual, Texicare provides plans that cater to local employers, supporting their employees’ healthcare needs. Recognizing the unique challenges faced by small businesses, Texicare’s offerings promote wellness and accessibility, including options for virtual care. With over 15,000 registered small businesses in El Paso County, Texicare’s initiative is poised to positively impact both individual businesses and the local economy.
Texas – Texicare, a newly established health affiliate of Texas Mutual, has launched a health coverage initiative tailored specifically for small businesses in El Paso, Texas. This new offering aims to address the challenges that small employers face in providing health benefits to their employees, particularly those with between 2 and 250 workers. Starting January 1, 2025, El Paso businesses will have access to affordable health plans designed to fill a significant coverage gap in the state.
Many small business owners express a desire to offer health coverage but often do not do so due to the high costs and other limitations. Research indicates that approximately 68% of small businesses currently lack health benefits for their employees. Texicare seeks to empower these businesses by providing targeted health plans that are more than just a formality; the plans are designed for real-world utility, enhancing health care access for employees.
Texicare’s health offerings include two main plans: the Essential Care plan, which provides four $0 visits to six different types of health care providers annually, and the Savings Care plan, allowing employees to make tax-free contributions into a health savings account. In addition, Texicare has made arrangements with local health care entities, such as The Hospitals of Providence, ensuring that members receive quality care. The company also partners with CirrusMD, offering virtual health care options to cater to the needs of rural Texans, many of whom may have limited access to in-person health services.
The initiative is supported by Texas Mutual, the state’s largest workers’ compensation insurance provider, which has a history of over 30 years in the industry. Texas Mutual has allocated a total of $300 million to Texicare, with the latest funding round contributing an additional $240 million. This financial backing emphasizes the commitment to establishing a robust health coverage infrastructure for small businesses, particularly in areas with significant insurance gaps.
The Texas Legislature played a pivotal role in prompting Texas Mutual to explore health care plans for small businesses back in 2021. This initiative began with a pilot launch in West Texas and has now expanded its reach to larger markets such as Houston. Texicare’s goal is to extend its services to even more Texas communities in the future, as approximately 5 million people across the state currently lack health coverage.
El Paso, home to over 15,000 registered small businesses, represents a key market for Texicare’s health plans. The company emphasizes that its healthcare offerings are available exclusively through licensed insurance agents, encouraging business owners to engage with their current agents to learn more about the available options.
In addition to insurance plans, Texicare prioritizes empowering small businesses to enhance employee wellness, which in turn can lead to increased productivity. The company’s tailored approach to health coverage, reflecting the unique needs of Texas businesses, represents a significant step in addressing the healthcare challenges faced by small employers. The introduction of Texicare is expected to not only benefit small business owners but also to improve the overall workforce health landscape in Texas.
Deeper Dive: News & Info About This Topic
- OAOA: Texicare Brings Health Care Plans to El Paso
- Business Wire: Texicare Brings Innovative Health Care Plans to El Paso
- Midland Reporter-Telegram: Texicare Expansion in Texas Healthcare
- El Paso Inc.: In Nog Heaven, You Might Want to Thank a Cow
- Business Wire: Texas Mutual Approves Additional $240 Million for Health Affiliate Texicare
- Wikipedia: Health care in the United States
- Google Search: Health Insurance for Small Businesses
- Google Scholar: Small Businesses Health Coverage
- Encyclopedia Britannica: Health Insurance
- Google News: Small Business Health Care
