Good Decisions For Small Business Healthcare

/ / All Posts, Health Insurance, Small Business

Under the Affordable Care Act (ACA) a small business above 50 employees is required to provide healthcare for their employees. These companies that have 50 or more full-time employees must provide health insurance to 95% of their employees and dependents up to age 26 or risk paying a tax penalty of $2,000 per full-time employee. An article on Forbes says, “many small businesses still do provide health care for their employees, either out of a sense of responsibility or out of a desire to attract quality candidates (or both).” Although, depending on how those plans are paid for you could run into some […]

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The ACA Boasts Fewer Uninsured

/ / All Posts, Health Insurance, In The News

The Affordable Care Act (ACA) has boasted an increase in healthcare enrollment, which is to be expected as it’s mandatory. What do those numbers look like on paper though? In Colorado alone the uninsured have been cut by more than half over the past two years. The disheartening news is that the drop is due almost entirely to a surge in Medicaid enrollment, according to Biz Journals. The Colorado Health Institute (CHI) and The Colorado Trust released its findings from the 2015 Colorado Health Access Survey and the increase in Medicaid enrollment was one of many things the survey revealed. Another is the way

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1/3 The Healthcare Providers?

/ / All Posts, Health Insurance, In The News

In a recent Washington Post article it was reported that, “Consumers who bought insurance on the health exchanges last year had access to one-third fewer doctors and hospitals, on average, than people with traditional employer-provided coverage” This is not necessarily a negative though as the smaller networks are typically negotiated contracts with the healthcare provider to offer lower costs which results in a lower premium price. An analysis by Avalere Health said, “Compared with traditional employer coverage, exchange plans had networks with 42 percent fewer cancer and cardiac specialists; 32 percent fewer mental health and primary-care doctors, and 24 percent fewer hospitals.”

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How are Health Insurance Subsidies Determined?

/ / All Posts, Did You Know?, Health Insurance

Each year during open enrollment individuals are able to see if they are eligible for health insurance subsidies to help supplement their health care costs. The determinations are based on projected adjusted gross income (AGI) for the year compared to the cost of the second lowest silver plan in an individuals state of residence. These two factors along with how many individuals are in the household will determine eligibility to receive assistance. The only way to receive assistance is to enroll in either your state based exchange or on Healthcare.gov. Documents are required to verify the income that you are claiming is in fact correct. If you qualify

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Help is Coming for Small Businesses

/ / All Posts, In The News, Small Business

When the ACA was written the law has come with its fair share of challenges and there have been many changes. When the law was passed the I.R.S. drafted a regulation that imposes fines on small business for doing what the very law is meant to do, help individual and families afford health insurance. Kevin Kuhlman, policy director for the National Association of Independent Business said, ” Reimbursing employees for the cost of insurance or medical services is a way for small businesses to help their workers without the administrative headaches of setting up a costly group plan.” The IRS has said for doing

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