Park City, Utah (PRWEB) December 01, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on small business health insurance.
According to Zane Benefits’ website, for many employers and brokers, the Affordable Care Act can feel like a moving target. However, for small groups with less than 50 employees who are not mandated to provide health insurance in 2015, the options for small group health insurance are a little more clear. Looking into 2014, small groups have five main options for health insurance:
1) Individual Health Insurance
The first option is a relatively simple approach, yet it achieves results: direct employees to the individual health insurance Marketplace in the state where they reside to purchase individual health insurance. Eligible employees can access discounts on their premiums via the individual health insurance tax credits.
If the small group would like to contribute to employee's premium expenses, they can use defined contribution allowances to reimburse employees for the unsubsidized portion of their premium. For many small groups, this is the most cost-effective solution because the small group can contribute any amount and individual health insurance costs, on average, less than small group plans.
2) SHOP Marketplace
The SHOP Marketplaces are new state- or federally-run exchanges for small businesses. Small group health plans are available on the Marketplaces and could be a good coverage option for employers with 50 or fewer employees if they can meet certain requirements.
3) Private Health Exchange
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