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Texicare Launches Affordable Health Coverage for Small Businesses in El Paso

Texicare Health Coverage for Small Businesses

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.

Texicare Launches Affordable Health Coverage for Small Businesses in El Paso, Texas

El Paso, Texas – Texicare has launched a new health coverage option specifically designed for small businesses in Texas, filling a critical gap in employee health benefits. This health affiliate of Texas Mutual targets businesses with two to 250 employees, addressing both the limited access and high costs that have historically hindered small employers from providing health coverage.

Executives from Texicare emphasize that many small business owners desire to offer health benefits but are often unable to do so due to various limitations. Approximately 68% of small businesses do not provide health coverage to their employees, a statistic that underscores the need for more accessible options. In fact, research has shown that many small business owners want to offer health coverage but face significant barriers.

Texicare, backed by Texas Mutual—the state’s largest workers’ compensation insurance provider with over 30 years of experience—seeks to empower small businesses to provide health care and, in turn, strengthen the Texas workforce. The company is committed to developing health plans that go beyond conventional insurance, aiming to create coverage that employees can utilize effectively.

Affordable Health Coverage Plans

Texicare will start offering its plans to small businesses in El Paso beginning January 1, 2025. Business owners will have access to a range of customized health plans tailored specifically for Texas businesses. Two of the noteworthy plans include:

Essential Care plan: This plan includes four $0 visits to six different healthcare provider types annually.
Savings Care plan: This option allows employees to make tax-free contributions into a health savings account, providing a flexible approach to managing health care costs.

Partnerships for Enhanced Care

Texicare also boasts partnerships with several local healthcare entities, including The Hospitals of Providence. Such partnerships ensure that members have access to quality health care services. In addition, collaborations with CirrusMD provide virtual healthcare options for employees, catering particularly to those in rural areas with limited internet access. TempoPay is another partner offering flexible payment solutions to support Texicare’s clients.

Funding and Legislative Support

In a significant move to stimulate this initiative, Texas Mutual has approved an additional $240 million in funding to Texicare, bringing the total funding to $300 million. This financial support was prompted by Texas legislation in 2021, which encouraged Texas Mutual to explore opportunities for providing healthcare plans for small businesses across the state.

Future Expansion Plans

Texicare initially launched its health care options in West Texas, with plans to expand into larger markets, including Houston. There are over 15,000 small businesses registered in El Paso County alone, demonstrating a substantial target market for Texicare’s affordable health solutions. Currently, the number of uninsured individuals in Texas stands at approximately 5 million, highlighting a crucial need for accessible health coverage options.

The overarching goal of Texicare is not just to provide insurance, but to create an environment that promotes employee wellness. Healthier employees contribute to improved productivity and workplace morale, making health coverage an essential part of any business strategy. With Texicare, small businesses in Texas can now look to a more sustainable solution for providing health benefits to their workforce.