What if a small business does not offer health insurance?
December 21, 2013
Under the Affordable Care Act, a small business is one with less than 50 full-time equivalent (FTE) employees. Small business are not charged penalites for not offering affordable health insurance to employees under the law.
If a small business chooses to offer group health insurance, it might qualify for a Small Business Health Care Tax Credit by offering insurance and paying at least half of the employee's premium.
Because a small business is not required to offer insurance, you have a few options:
1) Offer group health insurance using a small business tax credit
2) Offer group health insurance if you don't qualify for a small business tax credit
3) Offer individual insurance plans to your employees (through AHIPE sounds pretty good to us)
Contact us for your complimentary review to see what option is best for your business.