Small businesses are not immune to the compliance issues of the ACA, Affordable Care Act. It’s true, they don’t have the “pay or play” issues that larger employers have, but they still have compliance issues if they provide Group Benefits or Health Insurance for Small Business. There are too many compliance issues to go into in this blog, but to touch on a couple; each employer has to make sure each employee has a copy of the health insurance available to them. Failure to do so and the Dept of Labor will fine you. Another Small Business Health Insurance issue is that all employees, whether they are enrolled in the Health Insurance or not, has to have a copy of the ObamaCare marketplace notification distributed by the IRS last Sept. When you have an agent or broker that does not specialize in Small Business Health Insurance, you run the risk of not being in compliance.
Small Business Health Insurance costs soar if you don’t have a strategy
Whether you have 2 employees or 49, the pricing for plans is all the same now. No more rate adjustments if you have more people. No more plans with super high deductibles either that would be super cheap. Employers are moving to either passing the cost on to the employees and/or not paying as much towards the employees cost. There ARE some other strategies. Many of these Small Business Health Insurance strategies are not really known to agents that don’t specialize in Health Insurance for Small Business. Anyone can help you sign up or quote plans. That takes no skill at all. Small Business Health Insurance is complicated…..very complicated.
Companies spend a ton of money on Health Insurance. Why not use a expert, we’re free.
Whether you have a Farmers Insurance agent help you with your Health Insurance, someone from Paychex, or Brauer Insurance, our fees are built into the Small Business Health Insurance premium. You choose who you want to work with, either a Generalist or Specialist. I always tell people, find yourself a specialist. This stuff is just too complex. It’s not brain surgery, but there is a ton of information and liability associated with Business Health Insurance. There’s just too much at stake. At Brauer Insurance we are the Bay Area’s leader in Health Insurance. I teach this stuff at UC Santa Cruz Extension, I’ve been interviewed on KPIX Channel 5 several times on their ObamaCare segments, etc….