Your employees are your greatest asset. As a business owner, you most likely already understand how providing health insurance for your business has a huge impact on the attraction and retention of talented employees in your office, giving them greater satisfaction and peace-of-mind.
Whether you currently provide health insurance to your business or you are thinking about offering health insurance for the first time, there are a number of things to consider:
Are small businesses required to offer employees health insurance?
According to the insurance requirements of the Affordable Care Act (ACA), employers who have less than 50 full-time employees are considered to be a small business and are not required to provide group health insurance in 2020.
Though, legally, small businesses aren’t required to offer health insurance, many do so anyway. Health coverage is one of the number one benefits employees want from their company.
Does my business qualify for group health insurance?
What are the perks?
2019 & 2020 Changes
Upon renewal in 2019 or when choosing a plan for the first time in 2020, all employers in the state of Arizona will need to offer their employees COBRA.
COBRA allows individuals to maintain their group health insurance, and potentially vision and dental coverage after a job loss or other qualifying event. All of the premium can be charged to individuals receiving COBRA continuation coverage. The employer pays nothing. COBRA requires that continuation coverage extend from the date of the qualifying event for a limited period of 18 or 36 months. The length of time depends on the type of qualifying event that gave rise to the COBRA rights.
How to get a free quote:
Providing insurance for yourself and your business has numerous advantages, but it’s also okay to wonder what the costs will be.
Desert Mountain Insurance Services is a no fees brokerage, meaning we are able shop around to the leading carriers to find a company and plan that fits your business’s needs and provide management of your accounts, again for no fees. We want to help you see what options are available while helping you make an informed choice that can benefit you for years to come.
If you would like us to help you find a plan or change your current business health insurance plan(s) please visit our website or give us a call at 480.348.2200
Bureau of Labor Statistics: https://www.bls.gov/news.release/ebs2.t02.htm