There is a lot of misconceptions about ObamaCare and how it affects Health Insurance for businesses. Many employers think that they are required to provide Health Insurance for their employees no matter what size the company. Only companies that have over 50 employees have been mandated to offer coverage to their people. The businesses that have over 100 employees will have to offer coverage beginning in 2015, employers with 50-99 employees have a reprieve for one year, until 2016. No employer with under 50 employees will ever have to offer coverage under ObamaCare. Health Insurance for businesses is very complicated under ObamaCare. Even if you are a smaller employer offering coverage, there are many mandates and compliance issues that need to be met.
Mandates and compliance issues with ObamaCare and Health Insurance for small business
Even if you have only a few employees, there are certain compliance issues you have to have in place to comply with ObamaCare. When you work with a brokerage that knows what they’re doing, they will help you with these issues. If you have a broker that is a General Practitioner, you take your chances. Having a Specialist does not cost you any more money….and…..you get the valuable expertise that comes with knowing this crazy dysfunctional Health Insurance world. If you offer coverage now and you have not distributed your SBCs and SPDs to your employees, you better hope you don’t have a Dept of Labor audit anytime soon.
Health Insurance even for small businesses is complicated
If this was 1995 or even 2005, this would not be an issue. You could have a Farmer’s agent or someone else that barely knows the industry, help you purchase Health Insurance for your business. Nowadays, its a new world. IRS filings, Dept of Labor (DOL) requirements, penalties, mandates, strategies….its enough to make your head explode. Have an expert help you…if not us, then find an agency that specializes in Health Insurance for businesses and is certified with ObamaCare and the State of CA for Consumer Directed Health Plans.