Finding The Right Medical Insurance for Your Business
For Kansas and Missouri business owners who have fewer than 50 full-time employees it is not required by law to offer employees health insurance benefits. However, many small business owners choose to offer health benefits to their employees in order to attract and keep good employees. Many business owners have found that benefits packages offering health benefits creates a positive work environment where employees are more productive.
If you are thinking about offering Health Benefits to your employees let Omni help you find the right group plan for your business. We will take the time to make sure you are offering the best coverage and understand exactly what your plan offers and how it will effect your business.
Am I required to offer health insurance to my employees?
The answer is no if you have a business with fewer than 50 full-time equivalent employees. Under the Affordable Care Act, businesses with less than 50 employees are not required to provide health insurance to their employees, and employers will not face tax penalties if they decide not to offer their employees health insurance.
Should I offer Health Benefits to employees?
Many employers have chosen to offer health benefits to employees and have found that by offering health benefits they are able to attract and keep higher quality employees. Businesses who offer benefits have the tax advantages of deducting their contributions to the plan. Offering benefits to employees also benefits a business owner, who can get personal benefits for less money than if they purchased a policy privately. Offering health insurance has been shown to decrease absenteeism and improve overall employee health and morale.
Do I have options for choosing Health Benefits?
Yes, The Small Business Health Options Program or (SHOP) Marketplace allows small businesses that provide health coverage to their employees a marketplace to choose a group policy that fit the needs of the small business. The SHOP Marketplace is open to employers who have 50 or fewer full-time employees, this includes non-profit organizations. Also you can enroll a business in SHOP at any point throughout the year.
Can I cover my self if I offer health benefits?
Yes
Does my business have to pay a portion of the premium?
Yes, group health insurance plans require the employer to pay for a portion of each employee’s monthly premium. This is one of the defining characteristics of group health insurance. Some plans may also require the employer to pay a portion of the premium for an employee’s dependents. However, even when an employer is not required to cover a portion of the premium for an employee’s dependents, you may opt to do so.