Tag Archives: Group Health Insurance

Will Medical Marijuana Be Covered By Employee Health Plans?

As of 2022, 37 states (and Washington, DC) have legalized marijuana in some form. But the costs associated with medical marijuana are not covered by health insurance plans, even in states that have legalized weed. These facts seem at odds. If medical marijuana is legal in a state, and if a doctor recommends medical marijuana for a patient, why can’t

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Stressed Businessman Worries That He's A Victim Of Healthcare Fraud

How Healthcare Fraud Costs Us All

It takes a village to maintain your health insurance coverage. That village includes the health insurance company in charge of your plan, the network of doctors and hospitals that manage your care, the employer who might offer you group coverage, and the state and federal governments that provide mandatory benefits and possible tax credits to you and your employer. And

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Happy Young Woman Talks To Agent On Phone About Section 125 Plans

A Section 125 Plan Offers Tax Benefits For Your Small Business

Let’s say we could offer you a way to reduce your small business’ payroll taxes. Now, let’s say we could offer you a way for employees to reduce their taxable incomes. If we could provide both of these benefits in one package, would you take our offer? Of course you would! So, Small Business Owner, let us introduce you to

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Small Business Employees Take Advantage of Company Wellness Programs

What’s The ROI On Employee Wellness Programs?

In a survey by the Society for Human Resource Management, about three-fourths of HR professionals reported that their organizations offered wellness incentives in 2014. Of this number, about two-thirds reported that their wellness program was “somewhat effective” or “very effective” in reducing healthcare costs. So, wellness programs reduce business costs. But how do you, a small business owner, determine how

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Small Business Owners: Consider The Partial Self-Funded Model For Your Business!

When a small business owner considers group coverage for employees, their search starts with the Big Question: How do I pay for my employees’ health insurance? The Big Answer is a bit complicated, but we’ll cover the bases in this post. To pay for employees’ health insurance, you can structure group coverage in one of two ways: through a (1)

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One Hundred Dollar Bills Represent Health Insurance Costs For Small Business Owners

Small Business Owners — You Can Get Help Paying For Health Insurance Costs!

Are you a small-business owner with fewer than 25 full-time employees? You could be eligible for a small business tax credit! This federal subsidy is targeted to businesses with low to moderate-income employees, and it offsets the cost of paying for employees’ health insurance premiums. To qualify for the small business tax credit, your firm must meet the following requirements:

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Man researches whether his small business will have to pay the employer shared responsibility provision?

Employer Shared Responsibility Provision – Does It Apply To Your Business?

On January 1, 2015, the Employer Shared Responsibility provision went into effect. As of 2017, the provision — and possible penalty for non-compliance — applies to “large” small businesses in California. In this post, we’ll discuss who falls under the shared responsibility provision (SRP) and how the penalty is calculated. Who Is Subject To The Shared Responsibility Provision? The Affordable Care Act’s employer SRP

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Two small business owners discuss defined contribution plan

Defined Contribution Health Plans — How Do They Benefit Your Small Business?

Employee retention is a crucial part of reducing company costs. And a key part of employee retention is that your business offers access to quality healthcare coverage. But you’re not a health insurance expert. You’re a small business owner with a small HR department and limited resources to navigate the health insurance industry. How do you offer comprehensive coverage and keep

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Young woman talks to colleagues at small business

The Small Group Definition Has Changed. Will Your Business Be Impacted?

Under the original provisions of the Affordable Care Act, the term “small business” applied to companies with no more than 50 employees. As of January 2016, that definition has changed. If your firm has 1 to 100 full-time equivalent employees, you are now eligible to purchase healthcare coverage through Covered California. Known as the Small Business Health Options Program (SHOP),

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