the affordable care Act is in full effect. And, if you're like many small business owners or managers, you have done your homework. You understand the needs of your business under Obamacare and you finally have the feeling that you get. Do your employees feel the same way? Probably not.
In fact, most employees (heck, most of the US population), are still confused this Obamacare means to them, their families and their health insurance. It is a problem. Many companies make changes to their health benefits because of Obamacare, which means employees do not fully understand these changes. And, they might miss opportunities for better health insurance.
Employees need your help to understand Obamacare. To help, we've boiled up four essential Obamacare facts to help you and your employees understand the main impacts of Obamacare. Let's start.
4 essential Obamacare made to help employees understand
What many people do not realize is that the Affordable Care Act aka ACA or Obamacare, introduced new changes that greatly benefit people and individual health insurance. There are four main things all small business owners, managers and employees need to know about how Obamacare impacts individuals and families.
1. If you do not have a health insurance coverage, you'll probably pay a penalty to the tax-time, called the cost of individual or shared responsibility individual Mandate .
2. There are new options for the purchase of health insurance by Health Insurance Markets .
3. Most employees are eligible for significant discounts on health insurance, called Credits and grants investment allowance. In addition, Medicaid eligibility has increased in many states.
4. individual health insurance new advantages. For example, you can not be charged or misappropriated or more because of a pre-existing medical conditions and all health insurance plans cover essential health benefits . In fact, these changes are Obamacare individual health insurance (not traditional health insurance employers) a better and more affordable for you, your family, and your employees make.
what small businesses need to know to understand Obamacare
As a quick reminder, we will also talk about what small businesses need to know about Obamacare. There are three essential facts Obamacare key for small businesses.
1. Small businesses (with fewer than 50 employees) are not required to offer traditional health insurance. "The employer mandate" of the ACA is not true for small businesses.
2. There are new reporting requirements for employers of all sizes.
3. because of the new benefits of individual health insurance, savvy small businesses are transitioning employees for individual health insurance, and helping a repayment program premium. in fact, it is estimated that by 2017, 60% of all small businesses will go to individual health insurance and the premium refund.
Conclusion
While your small business is to get the hang of Obamacare, employees still need help to navigate that the affordable care Act means to them, their families and their health . by helping them understand these essentials, they will feel more confident with the health benefits you are offering, and be ready to take control of their health care.
Do you understand Obamacare? What questions do you have? Leave a comment below.
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