With all the new health insurance reforms and laws under the Affordable Care Act, or ACA, it can be easy to get confused about what type of health insurance you are required to offer your employees. Knowing what regulations and rules you must follow can help to ensure that you are not faced with fines throughout the year.
Many employers are not aware that if you offer health insurance to your employees, you may qualify for special tax credits. If you have a company with 25 or fewer employees that have average annual salaries of less than $50,000, you may be able to qualify for special tax credits for up to 50 percent of the amount you contribute to the policies, as long as you contribute at least 50 percent.
No matter if you offer health insurance to your employees or not, you must make sure that all of your employees are aware that they are obligated to seek health care coverage under the ACA. You also must let your employees know that they are guaranteed access in the individual market and may qualify for special subsidies.
For all of your small group health insurance needs for your business, contact the insurance experts at Integrity First Insurance Services in Thousand Oaks, California. We will work with your business to ensure you are able to provide your employees with the most comprehensive health insurance coverage.