Your small business does not offer traditional health insurance coverage, but you want to help with employees’ insurance costs. As such, your business gives employees a taxable raise or bonus to use toward healthcare. But here’s a thought. Your small business could save money, and contribute more to employees’ healthcare, by setting up a tax-advantaged reimbursement plan.
Making the decision to offer health benefits involves careful consideration. For small dental practices, just knowing where to start can be a challenge. Last week, we wrote an article featured on DentistryIQ discussing employee health benefit options for small dental practices.
As small business owners navigate the Affordable Care Act (ACA) they face an uphill battle. As a way to hold on to current coverage and delay rate increases, many small businesses have kept their non-ACA health insurance plan under a provision known as “grandmothering.”
Health Savings Accounts (HSAs) are commonly known as medical spending accounts paired with a high-deductible health plan. But before you use all of your HSA money on prescription glasses and co-pays, here's a thought. HSAs can also help with retirement savings.
A common question we receive from employers, health insurance advisors, and accounting professionals is, "How does ZaneHealth comply with the various federal regulations and reforms?" In other words, is ZaneHealth legal?
Health Reimbursement Arrangements (HRAs) have been one of the easiest ways for small businesses to offer employees a flexible, tax-advantaged health benefit that controls company costs. And yet, new Affordable Care Act (“Obamacare”) rules limited HRA use for plans beginning January 1, 2014.
For decades, the predominant way for Americans to purchase health insurance has been through the group health insurance market; you get coverage through work. But then, enter the Affordable Care Act (“Obamacare”). The ACA changed the rules by making individual health insurance guaranteed-issue, discounted, and easier to buy.
The Affordable Care Act (aka ACA or "Obamacare") made it possible for smaller businesses to offer health benefits, but nothing about it is simple. Last week, Zane Benefits President and CEO Rick Lindquist wrote an article featured on Entrepreneur.com discussing five tactics to make buying health benefits easier and more effective.
Many small businesses do not offer formal health benefits, but they want to help with employees’ health insurance costs. So, the business gives employees a taxable raise or bonus to use toward healthcare. Is giving employees a lump sum for health insurance still allowed? Yes, as long as the business does not require employees to prove they purchased health insurance. Are there pros and cons to this approach? Absolutely.
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.