As a small employer group, chances are you fall into one of the following predicaments:
- You provide a small group health plan for employees and the cost keeps getting higher and higher each year.
- Costs are too high. You don’t offer group coverage, telling your employees to fend for themselves.
Either way, there’s a new alternative. Under the Affordable Care Act, businesses with fewer than 50 full-time equivalent employees will not be penalized for not providing group health insurance to their employees. An alternative concept to offering group insurance is for small employers to provide a way for their employees to purchase their own individual coverage on the public or private exchange. Beginning with effective dates of January 1, 2014 and thereafter, all health insurance plans available through the exchange cant turn you or your employees down or charge you more because you are sick or have a health condition. So you don’t have to worry about one of your employees being denied coverage.