Changes
Jump to navigation
Jump to search
→Options for small businesses with fewer than 50 employees that still choose to provide health care
* For employers that sponsor self-insured plans, requires another information reporting that is separate from the information reporting required for employers with more than 50 FTE [https://www.sba.gov/content/employers-with-up-to-50-employees].
===Options for small businesses with fewer than 50 employees FTE that still choose to provide health care===
Although, health care is not a mandatory service for small businesses with fewer than 50 FTE many small businesses still provide health insurance for their employees. These companies, along with large companies, are seeing rising premiums on their insurance due to the ACA stipulation that health care companies cannot deny coverage when considering an individual's health. However, there are options to compensate with the increased (while also non-mandatory) cost of providing health care, the most obvious of which would entail the end of employee-sponsored health insurance coverage by small businesses or simply increasing the employee contribution to coverage.
Small businesses can try to save on rising health care costs in various ways, such as :*participating in the SHOP Exchange, *negotiating on private insurance plans, *converting their employee group plans into individual employer-sponsored plans, such as Health Savings Accounts or Health Reimbursement Accounts (HSA’s and HRA’s), *switching to direct primary care, *or using Workplace Wellness Programs [http://www.cnbc.com/2015/01/08/5-smart-ways-small-firms-can-slash-health-care-costs.html].
===Effect on Small Businesses with 50 and 99 employees===
