What type of coverage do you need?


Orlando, Fla.—Now that we are in full Open Enrollment season for the Health Insurance Marketplace, also known as Obamacare, it is important to know a few details about what you are expected to provide to your employees as one of the most sought after benefits. 

The Affordable Care Act mandates the responsibility for the cost of insuring full-time employees to businesses with 50 or more full-time equivalent employees, it also provides generous tax credits to smaller businesses with 25 or less full-time equivalent employees.The ACA affects positively small business owners in several ways, following are a few examples:

  • In many cases it drives down the costs of employer coverage by changing the way premiums are calculated.
  • It affects your taxes

The costs are usually calculated based on the ages of your employees and the general health risks of people in your local community or region. Also, you may be able to deduct monthly insurance premiums from your business’s taxes before ACA, but the law also made special tax credits available to some businesses.

Although businesses with fewer employees are not required by law to offer healthcare to their employees, there is also the Small Business Health Options Program (SHOP) for small employers (generally those with 1–50 full-time and full-time equivalent employees who want to provide health and dental coverage to their employees as an attractive benefit.  As an incentive for the business, enrolling in SHOP insurance is generally the only way for eligible small employers to take advantage of the Small Business Health Care Tax Credit. You may qualify if you have fewer than 25 full-time equivalent (FTE) employees making an average of about $50,000 or less.

Certain employers can enroll in SHOP through private insurance companies. As mentioned before, SHOP plans are generally the only way to qualify for the Small Business Health Care Tax Credit to lower premium costs, but other parts of the health care law may also affect employers.

Certain employers are required to provide certain information about the Marketplace to their employees, whether they offer health insurance or not. If you offer health insurance to your employees, you must offer it to all eligible employees when they become eligible for health coverage. That is in most cases a 90 day-waiting period. A group health plan and a health insurance issuer offering group coverage may not use a waiting period that exceeds 90 days.

Employers must provide employees with a standard "Summary of Benefits and Coverage" (SBC) form explaining what their health plan covers and what it costs. The purpose of the SBC is to help employees understand their health insurance options. You could face a penalty for non-compliance.

The plans are offered by private insurance companies with a range of prices and benefits.

We at Garzor Insurance, understand how uneasy this whole process can be when not guided by a professional. We are now also specialists in healthcare insurance coverage, and are proud to now offer assistance with your Healthcare. We can help you find the appropriate group options for your business, based on the amount of employees, and many other factors.

For a consultation or quotes, contact us at (321) 206-8035. 


Mariana Zorrilla CIC,CRIS

Co-Owner - Principal Agent

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