The rule in the past has always been that businesses with less than 50 employees did not offer health insurance. This was not true in every case, but it was common for most small businesses. With the new Affordable Care Act, small business health coverage has become more affordable and offers tax credits and health subsidies for the owners of these businesses.
Since all individuals will be required to have health insurance coverage beginning January 1, 2014, the act makes it possible for small businesses to cover this health insurance to its employees. The main reason to offer your employees health coverage is to allow them to be workers that are more efficient. When someone gets sick, he or she is more likely to visit a doctor before it becomes a threatening illness, as long as the employee has the insurance to help defray the cost of the visit. They are also more likely to get their prescriptions filled and take them as directed, if they know the cost of the medication will be affordable due to their insurance coverage.
Small business health coverage is more affordable than ever because you can choose how much coverage to offer your employees. All of our insurance plans cover the 10 essential health benefits, such as doctors’ visits, prescription drugs, and hospitalization. If your business qualifies, then you may also get extra tax credits and subsidies when you offer this insurance to your employees. Everyone needs to have some way to pay for their health, and these plans make it possible for small business to take care of their employees, just as their larger counterparts have always done.