Under the Affordable Care Act (aka Obamacare), households with income between 100% and 400% of the Federal Poverty Level (FPL) may be eligible for a federal premium tax subsidy to cap the cost of their health insurance premium.
If you’re one of the 2.7 million U.S. small businesses who doesn’t offer health insurance, here’s something you’ve likely heard from employees: “We have to buy health insurance now. Can the company help us pay for it?” Whether employees have asked directly, or you’ve overheard conversations at the water cooler, you know employees would appreciate help paying for health insurance.
Health Reimbursement Arrangements, also called Health Reimbursement Accounts or HRAs, are a type of health plan used by employers to reimburse employees’ medical expenses. HRAs are both similar, and different, to other popular medical reimbursement plans such as Health Savings Accounts (HSAs) and Flexible Spending Accounts (FSAs). In this article, we’ll cover what an HRA is and how an HRA works.
Your small business doesn’t offer health insurance, but you’d like to help employees with the coverage they’ve purchased on their own. In this FAQ article, we’ll answer a common small business question, “Can we use a Health Savings Account (HSA) to reimburse employees for their health insurance?”
As a small business owner, recruiting and retaining top quality employees is key. You need employees who feel satisfied with their work, positive about their pay, and have a desire to be long-time contributors. You want them to feel loyal to your company and advocate for your small business. Individuals like these are the ones to get and keep. So, how do you make that happen? One piece of the employee retention puzzle is benefits.
For most small businesses, traditional group health insurance is out of reach. But, that doesn’t mean health benefits are not attainable. As an alternative, small businesses are adopting employee health benefit allowances to help with the cost of employees’ personal health insurance.
Small business owners are constantly analyzing and evaluating their budgets and bottom lines. Sometimes you have to cut back on certain things here and there. Other times, you add something to the budget in an attempt at a long term return. It may be tempting to opt out of providing health benefits, but there's long term value in offering them. This article outlines the ways adding health benefits can actually create more value to your small business.
It’s a common small business challenge - you want to help employees with the cost of healthcare, but traditional job-based health insurance is not in the cards. If this sounds familiar, your business has likely asked, “Can we give employees money for health insurance?”
The IRS recently announced the Health Savings Account (HSA) rules and requirements for 2016. This article reviews the HSA contribution limits, HDHP minimum required deductibles, and out-of-pocket maximums for 2016, as set annually by the Internal Revenue Service (IRS).
Until recently, small businesses wanting to provide health benefits to employees were limited to implementing a group health insurance policy. Small business owners know that this is often not a viable option. Cost, employee participation requirements, and restriction of provider networks are just a few of the obstacles associated with group health insurance.
Disclaimer: The information provided on this website is general in nature and does not apply to any specific U.S. state except where noted. Health insurance regulations differ in each state. See a licensed agent for detailed information on your state. Zane Benefits, Inc. does not sell health insurance.