Health Insurance

Employers with less than 51 employees are not required to offer health insurance but may be eligible for a tax credit (up to 50% of premium beginning in 2014).  Employers with 51 or greater employees are subject to penalty if they do not provide and insurance option for their employees.

October 1, 2013- employee notices of the existence of the Health Insurance Marketplace (“Marketplace”), previously referred to as the “Exchange” must be provided to existing employees no later than October 1, 2013.  Here is a link to the model employee notices which the DOL released on May 8, 2013. There is also a version if you do currently offer healthcare coverage.  The notice requirement applies to all employers with more than one employee.

October 1, 2013- You or your broker will be able to begin shopping for health care plans for January 1, 2014 and beyond dates.  States had 3 choices regarding how to manage the health care needs of its citizens: 1) create their own State Marketplaces; 2) create a State Partnership Marketplace and 3) decline and citizens will have access to the Federally Facilitated Marketplace.  Approved State Marketplaces include California, Colorado, and New Mexico.  Indiana, Georgia and Tennessee citizens will shop for coverage through the Federally Facilitated Marketplace.

January 1, 2014- First possible effective date for coverage under new Marketplace plans.   

If you need help navigating these waters and thinking through all of your options, please Health Insurance Quote