Small business owners often struggle to provide employee benefits like health insurance coverage to their employees. Understanding the options available and the trends in your region can help you choose the best health plan for your business and for your employees. Currently, employers have three basic options to choose from: PPOs, HMOs and HSAs.
Watch Out for Broker Practices That Cross the Line
We are looking into changing health insurance brokers. The new broker is telling us that in order it to quote us for health insurance, we need to sign a letter that says he is our new broker. Does this sound right?"
-Local Santa Rosa Business Owner
You are correct to suspect that something isn't right here. Some brokers, unfortunately, engage in several varieties of questionable practices. Asking you to sign this letter is just one of them.
Small Business Guide to Health Insurance
One of the ways to keep good employees is to offer good employee benefits, such as health and life insurance. The ACA requires small businesses with more than 50 full-time employees to offer a qualified health plan to eligible employees, ensure that the health plan is affordable and to complete the required paperwork for the IRS. This may seem like a daunting task, especially if you don’t have a full-time HR person on staff. But there are many guides that can help you through the process.
Counting Full-Time Employees Under the ACA
Under the Affordable Care Act (ACA), employers with more than 50 full-time employees are subject to employer-shared responsibility provisions and employer information reporting provisions regarding health insurance and employee benefits. Calculating whether you are an Applicable Large Employer (ALE) is complex, but the IRS does offer an estimator than can help you calculate your employees and responsibility. Having a basic understanding of how employees are counted can help you plan and adjust for the future.
Why Good Posture Improves Your Health
If you remember your parents telling you to sit up straight, you should know that they were only thinking about your health. Slouching is not good for your back muscles, it also lowers your energy levels. Americans today spend way too much time sitting. When you have poor posture, it stresses your joints and makes you appear sloppy. Fortunately, with conscious thought you can improve your posture.
Health Benefits That Benefit Small Businesses In Sonoma County
From finances to management and employee retention strategies, getting a grip on the ins and outs of running a business is no easy feat. One great way to establish an incentive for strong, dependable employees to remain working for your company and to attract additional high-quality workers is providing employee health benefits.
Health Care Laws
Businesses throughout the state of California and Sonoma County that have 50 or more employees are bound by the federal Affordable Care Act, which legally requires these companies to provide their workers with good and reasonably priced health insurance. However, if your business employs less than 50 people, then providing employee health benefits may still be beneficial to the advancement of your company, even though it may not be required by law.