Health insurance is a mess right now. What with the economy still being less than desirable, the government potentially shutting down again in two months, and the Affordable Care Act seemingly making things even more confusing than ever before. But one thing has not changed throughout all of this.
Your employees are relying on you to give them affordable health insurance. All politics aside, whether you believe one way and your employees believe another, your workers, just like every other citizen in this country, have a need for standard medical treatment, as well as preventative health care. If you value your employees, you owe them that much.
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Insurance for small businesses might be a scary prospect. Maybe, because you think that your business is so small, you would never be able to afford the health insurance for business owners that is available out there. That is just not true.
Even before the ACA was passed as a law, you had a variety of options to choose from. Now that the ACA is in place, not only do you have more options, but those that you had prior to its enactment should now be much less expensive than before.
The ultimate goal when purchasing insurance, is low rates, right? Not only for you, but for your employees as well. You cannot go into insurance shopping assuming that you will not be able to afford anything.
Even with some of the additional fees and taxes that got tacked on with the ACA, small businesses are still going to be able to afford insurance for their employees. A fine example:
A small business with less than 25 full-time employees is looking to provide its workers with health insurance. If the business covers at least half of the costs of that health care coverage, then they actually may be eligible for a federal income tax credit.
Not only is health insurance for business owners more affordable under the ACA, but it is actually easier to apply for and understand. You just need to take the time to look into it. Your state’s health care website is a great place to get guidance. As well as through actual insurance options.
And the government is really trying to make this transition as simple and smooth as possible, despite its definitively rocky start. If you contact the department in charge of it all, while it could take some time to get a reply, you will get the right answer when they do.
Even if you disagree with the Affordable Care Act, getting insurance for your employees is not about that. If nothing else, think of each employee as an investment. You take the time to train them properly, so that your business can run smoothly and efficiently. You are investing in them to make your company work. If you do not insure them, you are not protecting your assets.