Under the Affordable Care Act there are new rules for reimbursing employees for individual health insurance. And as of today, employers using an Employer Payment Plan or non-compliant reimbursement plan face penalties of up to $100 per day per employee.
Over a third (37 percent) of employers offering health benefits still have a grandfathered health insurance plan, according to Kaiser Family Foundation’s 2014 employer health benefits survey. Each year, however, the number of grandfathered plans decreases which means it may be the year your business has to look for a new health insurance plan. Will you be able to keep your grandfathered health insurance plan? This article covers the health plan changes that trigger the loss of grandfathered status.
It’s a common small business challenge. You want to contribute to employees’ healthcare, but traditional employer health insurance coverage is not in the cards. At the same time, employees are mandated under Obamacare to purchase coverage and the business would like to chip in, if they could. Can employers help employees with their Obamacare coverage? Is reimbursement for individual health insurance still allowed?
A common question we receive from small employers is, “Can we still use a Health Reimbursement Arrangement (HRA) to reimburse employees for their health insurance? The answer is, it depends. This article covers when an HRA may be used for individual health insurance reimbursement. We’ll also cover HRA alternatives to help with employees’ health insurance costs.
With the 2016 Obamacare open enrollment period right around the corner, all eyes are on which plans will be offered in the Health Insurance Marketplaces, and whether costs are going up or down. So far, 11 states have announced their 2016 proposed rates and the premium increases are surprisingly modest.
A few minutes ago, the Supreme Court ruled 6-3 in favor of ObamaCare in King v Burwell. The ruling confirms Health Insurance Marketplaces in all states can provide premium tax credits to individual policyholders. This decision is a huge win for small business owners and employees across the country. Since the passage of ObamaCare, small businesses have been saving up to 60 percent by giving money to employees to buy their own personal plans directly from insurance companies.
BREAKING NEWS: The Supreme Court just announced their ruling in favor of ObamaCare. The ruling confirms Health Insurance Marketplaces in all states can provide premium tax credits to individual policyholders. “In reality, this decision is a win for Democrats, Republicans, Businesses and Employees. For the first time since the law was passed, Congress will now focus on passing piecemeal improvements to the Affordable Care Act that make the law better for consumers and employers alike. We expect a flurry of new bills to be introduced in the coming months,” says Zane Benefits CEO and President Rick Lindquist. Full impact analysis to follow within the hour. Stay tuned.
Small businesses are changing the way they offer employee health benefits. Owners and employees are saving up to 60 percent by giving money to employees to buy their own personal plans directly from insurance companies. However, a Supreme Court ruling expected this week threatens to limit these savings.
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.