Group Health Insurance for Small Companies in Texas
What will companies with less than 50 employees do starting in 2014 as far as health insurance is concerned?
The short answer is the company can do what ever it wants to do. Employers with less than 50 employees do not have to offer a group plan or they can. Only employers with more than 50 employees will be mandated to offer health benefits.
So what is best? The short answer is it depends. Today group health insurance is better coverage then an individual policy. In theory starting in 2014 individual policy’s will be as good of coverage as group plans. The answers is we do not yet know if this will be true.
Today our office works with individuals for health coverage for people and there families. We also work with small companies, most of which employ less than 50 employees (EE).
Contact your agent and make start keeping tabs on the changes comming so you can be prepard. If you do not have a agent or broker feel free to call on us , at our office in Sugar Land, TX (713-481-6501).
Small Group Specialist (Agent certification for TX)
The trade association for health insurance in Texas has a certification for agents and brokers specifically for small group market . Small Group is a company of 2-50 employees. The Certification is SGS or Small Group Specialist. The TDI or Texas Department of Insurance web site refers to this certification as : ( Small Employer Health Benefit Plans Specialty Certification) TAHU (Texas Association of Health Underwriters) is the Trade association in Texas for Health Insurance and they do talk about this certification for Texas Insurance agents and brokers on the TAHU web site.
ACA or PPACA (Health Care Reform) Links of note IRS Q & A on Employer Shared Responsibility Provisons. ( Jan 2014) HealthCare.gov Link for official Info on ACA. Other info for group insurance A loophole that small business can look into. (KHN 03/15/2013) Self insurance, which is not for all groups.
A checklist for Small buisness
WSJ on Wellness. (a short vidoe) Want a raise? then get in shape.