Feds warn against Employers trying to drop sick employees and pushing them into the Exchanges – Covered CA CA HealthLine 11.26.2014
Reasons to have employees get coverage on their own
Free Individual & Family Quotes
Lower Business Expenses – No Group Health Premiums
Less work for the HR Department. Employees get coverage on their own, you don’t have to get involved.
Advantages – To get or keep your group plan
Health Coverage is the 2nd most important benefit to the employees and families, only after their paycheck.
If your employees are on Medi-Cal, they might have to take the entire day off for Medical Services – Presenteeism
Check out related pages in Employer Mandate Section
Better Provider Networks in Group Plans?
Participation Rules –– SHOP is 70% – There is also an annual open enrollment period when these rules are waived!
Management Carve Outs where you only cover owners & managers, OK for dental, Long Term Care, but no longer allowed under §2716
- §4980H – Shared responsibility for employers regarding Health Insurance
- 6056 Reporting
- DELAYED till 2016… Employer Mandate
- Employer Group or Individual Coverage?
- Mandate – Employee Definition?
- Penalties – Not Providing Minimum Essential Coverage
- W – 2 Reporting
- zHistorical Info Employer Mandate –
Small Biz Employer
Employees on their own
|Same in 2014|
Covered CA Brochure on Advantages of EmployER Plans
|No mandate for Employers under 50 employees||
Mandate to have coverage on their own or thru Employer or pay Tax, up to 2.5% of income…
Premiums are FULLY Income tax deductible for EmployER and not considered income to employee.
|Premiums deductible if over 10% of Income|
Additional Tax Credits for employees making less than $50k
Tax Credit (subsidy) for individuals making between 100 and 400% of Federal Poverty Level
|No more Management Carve Outs?|
Except Grandfathered Plans
Saves Social Security Tax 6.2% from Employer
4.2% from Employee
Worker’s Compensation Discount
Congressional Budget Office Report Page 19 – 22
Health Savings Accounts (HSA) where one can get a policy with a high deductible, and lower premium. Then fund a special account like an IRA that is tax advantaged to pay expenses not covered by Insurance
Buyers Guide (from a competitor Agent) but it’s good and well written. We added the bookmarks
Department of Insurance Guidehealth insurance info.net (writtenprior to Health Care Reform)
Quality Dividend CalculatorTM 2011, gives you a simple way to estimate how your choice of health plan will affect the productivity and absenteeism of your workforce.
When employees get higher quality care, they stay healthier, absenteeism drops, and productivity improves
12.2012 only 3% of EmployER’s will drop coverage
Myth – Employers will stop covering employees
Study shows paying fine saves $$$ politico.com/