• Medical Jobs
+234 909 1403 251
HealthFlex
×
  • Home
  • Medical Courses
    • Bioinformatics
    • Social Work
    • Veterinary Medicine
    • Public Health
    • Pharmacy
    • Nursing
    • Medical Laboratory Science
    • General Medicine
    • Dentistry
    • Clinical Psychology
    • Chemistry
    • Biology
  • Medical Study
    • Medical Study Program in Canada for Nigerian Students
    • Medical Study Program in China for Nigerian Students
    • Medical Study Program in Germany for Nigerian Students
    • Medical Study Program in Lithuania for Nigerian Students
    • Medical Study Program in Philippines for Nigerian Students
    • Medical Study Program in Romania for Nigerian Students
    • Medical Study Program in Russia for Nigerian Students
    • Medical Study Program in Turkey for Nigerian Students
    • Medical Study Program in UK for Nigerian Students
    • Medical Study Program in Ukraine for Nigerian Students
    • Medical Study Program in USA for Nigerian Students
  • Blog/News
  • Latest Offers
  • Gallery
  • Contact

Group Health Insurance: Is It Mandatory?

Group Health Insurance: Is It Mandatory?
November 4, 2019AGNES JOSEPHUncategorized

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, new health coverage requirements have been made that may affect small business owners.

How the Affordable Care Act changed insurance coverage for small business owners

Generally speaking, ACA 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:

  • Any plan offered by an employer must meet benefit and coverage standards defined by the Affordable Care Act.
  • Any plans offered by the organization should meet the standards of affordability set forth in the guidelines of the ACA.
  • Eligible employees must be offered health insurance within the first 90 days of their employment.

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:

  • Hiring and retaining talent. You know how important health insurance and access to medical care is to you and your employees. By offering group health insurance coverage, you may be better able to hire and retain the workers you want.
  • Multiple ways to buy. You may be able to purchase an employer-based group health insurance plan through special government-run marketplaces, direct from the insurance company, or through private licensed online marketplaces.
  • Help from licensed agents. When you shop with a licensed agent, your agent can often help you manage employee enrollment and also serve as your main point of contact with the insurance company.
  • Possible tax credits. When they purchase coverage through government marketplaces, some small businesses with 25 or fewer employees with average annual wages of less than $50,000 may be eligible for a special tax credit of up to 50% of the employer contribution toward employee health premiums.
  • Preventive care coverage. Under all Obamacare-compliant plans, certain preventive care services are covered without deductible, co-payment or coinsurance.
  • Coverage for pre-existing conditions. Under the ACA, any health insurance coverage offered under the SHOP Marketplace includes coverage for pre-existing conditions.

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. Contact your health insurance representative to see how you can provide your employees with health insurance coverage today.

Source: ehealthinsurance.com

Add Comment Cancel


Recent Posts

  • Careers Available for You in the Fitness Industry
  • A Guide to Studying Biology in the U.S for International Students
  • How Qatar Health Insurance Works for Foreigners
  • Where do Cardiopulmonary Rehabilitation Specialist Work?
  • Kinesiology- A Good Major to Consider

Recent Comments

  • AGNES JOSEPH on Pathways to Canada Permanent Residence
  • Anita Musa on Pathways to Canada Permanent Residence
  • Anita Musa on Canadian Open Work Permit Requirements
  • AGNES JOSEPH on Exploring Medical Careers Abroad
  • Anita Musa on Exploring Medical Careers Abroad

Archives

  • August 2022
  • July 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • September 2015

Categories

  • Latest Offers
  • Medical Abroad
  • Medical Conference
  • Medical Jobs
  • Medical Tourism
  • News
  • Study abroad
  • Uncategorized

Categories

  • Latest Offers
  • Medical Abroad
  • Medical Conference
  • Medical Jobs
  • Medical Tourism
  • News
  • Study abroad
  • Uncategorized

Archives

  • August 2022
  • July 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • September 2015

Text Widget

Fugiat dapibus, tellus ac cursus commodo, mauesris condime ntum nibh, ut fermentum mas justo sitters amet risus. Cras mattis cosi sectetut amet fermens etrsaters tum aecenas faucib sadips amets.

Calendar

November 2019
M T W T F S S
 123
45678910
11121314151617
18192021222324
252627282930  
« Oct   Dec »

Medical Travel is a Nigerian based specialized medical platform that assist Individuals with medical education and treatments.

+234 909 1403 251, +234 803 4383 061

info@medicaltravel.ng

Office: i172, Road 5, Ikota Shopping Complex, VGC, Lekki, Lagos, Nigeria.

Quick Links

  • Contact
  • Medical Study
  • Medical Jobs
  • Medical Tourism
  • FAQ

Latest News

  • How Qatar Health Insurance Works for Foreigners Aug 8

    Qatar has a highly developing healthcare system that has been...

  • Health Insurance for Foreigners in Saudi Arabia Aug 1

    Health insurance in Saudi Arabia used to be free for...

  • 4 Tips for Foreigners to Choose the Best Medical Insurance Policy Jul 19

    Ensuring that you and your family can access healthcare abroad...

Copyright ©2019 all rights reserved
Designed by Webplanet Consulting & Services