Big changes are come in the next year? the Affordable Care Act puts more 
mandates in place. Consumers and business owners can expect the full employer mandate to take effect, fines and penalties to increase for people who choose to go without insurance, and higher contribution rate to 50 percent with insurance companies.
With all these changes on the horizon, many small businesses wonder if they have new options that allow them to offer insurance to employees without excessive costs.
insurance options for small businesses
The Affordable Care Act requires all companies with more than 49 full-time employees offer health a group health insurance policy to every employee and dependents they who are under the age of 26 companies with fewer than 50 employees have the opportunity to use the SHOP market a group insurance policy, or individual repayment plan
- SHOP market -. With SHOP market, employers can offer either a doctor plan, a dental plan or both. Employees can choose either a specific plan within a category of coverage or the employer may choose the plan from a private insurance company. The SHOP market has a minimum participation rate, but in 2016, the requirements are lowered to make it easier for companies to use this plan
- policy of the group health insurance -. While group health policies can be more expensive than others, they are an attractive option for large companies. With a group insurance policy, the employer buys coverage and covers a minimum percentage of the cost. Group health policies offer valuable benefits for companies who need insurance for a large number of participants
- individual repayment plans -. The health insurance market or the stock market, as it is commonly known, is where Americans can choose and customize their own insurance plans. Because these plans are often cheaper than a group policy, many employers choose to reimburse employees for the cost of their insurance through an individual repayment plan. This way, employers can take advantage of lower costs, while contributing to employee insurance premiums each month.
Depending on the size of your business and what you can afford to offer your employees, one plan may work better than the other. The advantages are an important part of keeping and retaining talent so that your business can grow each year, and with the many options available, your company can control costs while keeping employees happy.
Conclusion
Group health insurance policies, individual repayment plans and plans of market SHOP are three insurance options that employers must offer employee health insurance in 2016.
What plan will work for your small business? Leave a comment below.
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