While owners of businesses that have fewer than 50 full-time employees are not required to offer their workers health insurance coverage, many do nonetheless. For some it is more of an employee benefit-oriented decision while others want to take advantage of tax breaks and other fiscal perks. Regardless of the reasons, the challenge for these small business owners often lies in creating a flexible and customized health insurance plan offering.   WHEN IT COMES TO HEALTH INSURANCE PLANS ONE SIZE DOES NOT FIT ALL For a few small businesses, a health insurance plan that is right for mostly si ..read more

Small group health insurance can be confusing, and the health insurance marketplace can be an asset for small businesses. However, even the marketplace can be a bit overwhelming for business owners, especially if they are tackling this project for the first time. Like any other asset or business investment, owners want to ensure to the extent that they can that their purchase of a small group health insurance plan is the best one. But how can you know? And how do you best navigate the small business health insurance marketplace?   THE HEALTH INSURANCE MARKETPLACE EXPLAINED Like many other ..read more

For owners and HR managers of smaller businesses, offering health insurance coverage to their employees is arguably a given. And, while it can be relatively costly, for those companies that are considered “small businesses” by the Affordable Care Act (ACA) there are financial and tax incentives that can make it affordable. And affordability is a key factor for employees, as well. For example, if you happen to have a fairly small business with a large number of older employees, premiums will tend to be higher. As one financial website has noted, “Health insurance rates go up as a policyholder ..read more

Small business owners and HR managers working in what the Affordable Care Act, or ACA, classifies as a “small business” – those with 49 or fewer full-time employees – have a full plate. And when it comes to determining the best choices for employee benefits such as health insurance coverage, the options, details, and various factors to be considered can be complex and time-consuming. This holds true for additional benefits for dental and vision insurance options.     THE BEST DENTAL INSURANCE COMPANIES IN 2023 Here are the best dental insurance companies as reviewed by Forbes Advisor ..read more

If you’ve been in business for more than a year or so you probably already know that what the Affordable Care Act (ACA) classifies as a “small” business are those with less than 50 workers. And those small businesses with between 2 and 49 full-time equivalent (FTE) employees are not legally required to offer health insurance to their workers. However, there are several solid reasons why these business owners should choose to offer small group healthcare coverage.     WHY SMALL BUSINESS OWNERS SHOULD OFFER HEALTH INSURANCE The benefits that stem from offering employees health insuranc ..read more

Health insurance coverage can be costly, and the cost seems to go up from one year to the next, with some years more so than others. It’s bad enough for the individual or head of a family to buy their own insurance. It’s a fiscal challenge that is multiplied tens of times over for businesses. Despite optimistic promises from government officials and others, insurance premiums did go up and have continued to do so since the passage of the Affordable Care Act, commonly referred to as Obamacare. One study by The Heritage Foundation noted that Obamacare more than doubled health insurance costs for ..read more

Conscientious business owners prefer to offer their employees desirable benefits to foster loyalty and retention. In addition, most small employers understand that a robust and attractive benefits package is essential for attracting quality candidates when hiring. So, what makes for a “great” benefits package? It depends. As one company has noted, “While this can differ depending on who you ask, the standard in most industries consists of health insurance, dental insurance, flexible spending accounts, retirement savings plans, vacation time, and additional paid time off for events like family ..read more

It’s been almost 13 years since the inception of the Affordable Care Act (ACA), formally known as the Patient Protection and Affordable Care Act and informally referred to as Obamacare.  A historic U.S. federal statute that was enacted by the 111th United States Congress and signed into law by President Barack Obama on March 23, 2010, it has changed healthcare coverage in several respects here in the U.S. Along with the Health Care and Education Reconciliation Act of 2010 amendment, the ACA represents the healthcare system’s most significant regulatory overhaul and expansion of coverage s ..read more

We all know that things change. However, while we might believe that “nothing is certain but death and taxes” as the proverb goes, even taxes change from year to year. And this is equally true when it comes to the details, benefits, and requirements of small group health insurance. Each year things change, costs typically go up, some aspects or features are added, while others go away. Unfortunately for the often overworked and excessively busy small business owner, small group health coverage isn’t really a “get it and forget it” product. As we move into the year 2023 and are in the throes of ..read more

Almost every small business owner works hard to make their business a quality operation. And this often includes providing their employees with as many benefits and perks as possible.  This is due in part to the desire to be a “good employer” and to reward their employees, and also in part to the need to be sufficiently competitive in the employer market. Smart employers know that, in order to attract and retain a quality workforce, a desirable benefits package offering is a huge advantage. However, small businesses that are truly “small” in that they have less than, say, 10 employees may ..read more