Open registration is the time period where anyone can sign up for person 
health insurance plans. These are the time consumers have the ability to modify or add to their existing plans, and this year it began on 1 November 2015 and ends January 31, 2016. It is also the perfect opportunity for small companies that do not currently offer insurance health to create a plan that works for their employees, but does not degenerate costs through the roof.
As the landscape of health benefits in changing countries, many small businesses are turning to health insurance plans financed by employers that allow companies to retain employees by offering benefits health while controlling costs. To understand how this works, it is important to have a good basic knowledge of the market for health insurance.
Open Enrollment Basics
The health insurance market (also known as Exchange name) is where consumers can buy plans individual health insurance that fit their budget and their families. During open enrollment, Americans have more options than ever regarding health insurance. The ACA has created advantages to make the insurance more accessible and affordable for the average American. These benefits are:
- Lower costs
- Coverage for All
- Portability
- choice
individuals have the opportunity to shop for a plan that best fits their needs, without limitations for pre-existing conditions. Insurance can be taken from employer to employer, make new more portable options for the average American.
Americans who use the exchange to purchase health insurance are also eligible for tax credits of government bonuses to help offset the cost of insurance each month. So how can a company turn this into a work situation for the employer and the employee?
repayment programs are a win-win
While small companies are not required to offer insurance to employees unless they have more than 50 to full-time status, many choose in order to make the environment and culture more attractive to an exceptional talent. One option for small businesses is to use a personal insurance plan funded by the employer complies. With a personal insurance plan funded comply employer, your employees buy their own insurance and are reimbursed at a fixed amount of the company to help cover costs. You are basically repay their insurance, but with a predefined amount that allows the company to contain its costs. Employees can still access the money available on the Exchange, as well as tax credits for premiums granted by the government.
Timing is good
The open enrollment period is the perfect time to implement an employee-funded individual plan health insurance, as Americans have the opportunity to register and choose their own insurance plans.
What is your plan to do to take advantage of the open enrollment business this year? Leave a comment below.
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