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Do All Small Business Employees Have to be Offered the Same Healthcare Benefits?

Introduction

As you approach open enrollment and renewal season, you may wonder what you should do as an employer to guarantee your employees are taken care of. Navigating budget and group health insurance options are critical for small businesses to thrive. However, following federal and state regulations is essential to keep your business compliant as you consider your options. We’re pretty confident you want to avoid legal repercussions, so we’re here to help you understand your responsibilities as a small business owner when it comes to healthcare benefits. 

Because we acknowledge how confusing some legal stipulations may be, we’re here to guide you through all the pressing questions you may have about the benefits you can offer your employees. MonsterQuoter is here to help you save the hassle of finding out your responsibilities concerning offering group healthcare benefits. Below, we lay down some crucial information so you can make the best decision for your business and the well-being of your employees. 

What Does The Affordable Care Act Say About Offering Small Business Employees Healthcare Benefits? 

The Affordable Care Act does require employers of 50 or more employees and full-time equivalents to offer affordable group health insurance. However, according to the ACA, business owners with fewer than 50 full-time or full-time equivalent employees are, in fact, considered “small businesses.” So, if you fall into this category, you can choose whether or not to offer group health insurance.

Do I Have To Offer All My Small Business Employees the Same Healthcare Benefits?

The bottom line: no. You can provide certain employees with unique health insurance benefits. However, there has to be a reason. Your decision to offer some employees different health care benefits should be based on work-related reasons, such as tenure, full- or part-time status, etc. 

If you offer coverage to any full-time employee, you must offer it to all employees working full-time at your company.

Should I Offer My Employees Health Insurance?

This is a complicated question. For instance, if the majority of your employees are low paid you shouldn’t offer health insurance because it then excludes them from getting the federal subsidies for themselves and for their families. We can help you figure this out.

But, in other cases, why not stand out from other small businesses in your industry? It is proven that employer health coverage can improve retention, and having good health insurance can heavily influence employee satisfaction. So, if you want to keep your employees happy and healthy, you may want to consider offering them some sort of insurance coverage. 

But finding affordable health insurance for both you and your employees is critical to your bottom line.  

Now it is easy to shop for group health insurance rates on MonsterQuoter. You’ll be happy you started the process to offer your employees health coverage. With unbeatable insurance rates, small business owners shopping for good health insurance quotes can obtain and compare their rates in just a couple of minutes. By filling out the information required for our quoting tools, business owners with companies of all sizes can find the perfect coverage for their employees without breaking the bank. 

So, what are you waiting for? Shop independently for health insurance coverage options, or reach out to our team of unbiased health insurance strategists for more information! 

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