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Small Business Group Migration, employee only coverage

What to consider

Major provisions of the ACA continue to be implemented including the individual and small business (SHOP) exchanges that are set to launch this year. Small businesses will have multiple options to manage health care for their employees under the ACA. Among the various options small employers have:

  •        Renewing their health plan outside the SHOP
  •        Entering the SHOP to purchase a new health plan
  •        Dropping coverage and sending employees to the individual marketplaces
  •        Dropping dependent coverage

The last bullet point means an employer may only cover their employees and not their employee’s dependents (spouse, child, etc.), which may result in these dependent’s purchasing their health coverage inside or outside the individual exchange.

These decisions may be based on many considerations, such as:

  •        The availability and amount of tax credits within the SHOP
  •        The number of eligible employees a group has
  •        The amount of choice inside and outside the exchanges
  •        How much the employer contributes to the health care coverage costs for their employees
  •        The subsidies available for individuals within the individual exchange
  •        The products and benefits available inside and outside the exchanges

What to do

Each option may not only impact your costs, but also employee health, satisfaction, productivity and more. We can discuss with you the options available and what you and your employee’s best choices may be.  We can help you understand impact to your full-time employees but also any part-time employees you have.

We can guide you to a better understanding or your concerns and plans as the exchanges open in October. We will guide you in making the best decision for your business and employees. We can also assist you as you navigate through the health care reform environment that is continuously changing.

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