Remus Benefits Group has partnerships with a few top Group Health Brokers that work hard for our clients. Or we can work with your existing Broker to design an affordable voluntary benefits package to fill the gaps for your employees out-of-pocket expenses.
Many small businesses are confused about whether or not they are required to provide mandatory group health insurance for employees. Under the Affordable Care Act (Obamacare), new health coverage requirements have been made that may affect small business owners.
Generally speaking, Obamacare does not require most small business owners to offer group health insurance coverage. If the organization has fewer than 50 full-time employees, small business owners are not subject to a penalty for not providing health insurance for their employees. Many small employers opt to provide coverage anyway, in order to help them hire and retain the best workers.
As of 2016, if the organization has 50 or more full-time employees, it is required by law to provide health insurance to all employees or be subject to a penalty.
Special rules and requirements may apply when employers offer coverage:
Employers under this umbrella are also subject to the Employer Shared Responsibility Payment if the coverage they offer is not affordable for their employees, or it does not meet the minimum standards.
Should small business provide health insurance coverage for employees?
There may be a number of advantages to offering health insurance coverage to your employees:
If your small business is required to provide health insurance under the ACA, don’t leave your company at risk for potential penalty. Even if you’re not required to provide coverage, offering health insurance to your employees may be a good idea.