Rare Opportunity for Small Business Group Health Insurance

written by John McAndrew

Is your small business struggling to qualify for ACA group health insurance?  What if we told you there was a way?

November 15 is the start of an Affordable Care Act (ACA) Special Enrollment Period – limited by regulations to a one month window (45 CFR 147.104) – for small businesses that want to offer employees the benefits of a group health insurance plan but who have not met the employee minimum participation or employer minimum contribution requirements. 

Omnia Benefit Partners LLC can untangle the particulars of the Affordable Care Act as it applies to your small business in your state, to help you minimize costs and maximize employee productivity – all in time to take advantage of this window.

In a nutshell, if you’ve been unable to offer your employees group health insurance coverage because:

  • Too few employees want to or can afford to enroll,
  • The minimum contribution exceeds your budget, or
  • “Who has time to sort through the regulations? I have a business to run!”

…then call Omnia Benefit Partners LLC. We will:

  • Help you understand your options and choose between them
  • Save you money on insurance and taxes, and
  • Get your employees covered and provide ongoing support

How many productive days have been lost this year to employees out (or, worse yet, spreading contagious untreated illnesses) with preventable illnesses like allergies or the flu – or researching cures on company time? How many potential star employees are hampered by depression, anxiety, or other chronic, unaddressed health problems?

Small Group health insurance coverage reduces sick days and increases employee contentment and retention. In today’s job market, it is virtually impossible for small employers to compete with big businesses for top talent without being able to offer employee benefits such as health insurance or insurance alternatives.  According to a survey by Glassdoor, health insurance is the benefit most valued by employees, even more highly than vacation and paid time off. Employee health problems, reduced productivity, and time away from work cost American employers hundreds of billions of dollars every year. And leaving your employees to buy their own individual health insurance coverage post-tax and at a higher cost from the ACA Marketplace/state Health Insurance Exchanges allows a risk to company productivity to go unmanaged.

Omnia Benefit Partners LLC can help you manage the costs as well as the risks. Call us now for a no-obligation consultation to take advantage of this one-month window. We can help you meet the new calendar year with your team prepared to work at capacity.

 

References

See https://www.law.cornell.edu/cfr/text/45/147.104 for full ACA definitions, or consult your state’s ACA regulations for state-specific definitions.

https://www.glassdoor.com/research/how-50-benefits-correlate-with-employee-satisfaction/

https://www.omniabenefits.com/definitions-small-group-special-enrollment-period