If you own and operate a small business in California, the affordable care act will allow you to purchase family health insurance coverage for your employees. While businesses with less than 50 employees are not required to offer health insurance, many of them will want to take advantage of the health insurance savings, to give their employees the required amount of coverage.
There is a special insurance market available that will specialize in small business insurance. It will allow you to find the best insurance that fits both your budget and the needs of your employees. The insurance will cover the 10 essential health benefits:
- Ambulatory patient services
- Emergency services
- Hospitalization
- Maternity and newborn care
- Mental and behavioral health, including substance abuse
- Prescription drugs
- Rehabilitative services
- Laboratory services
- Preventive and wellness services
- Pediatric services
Can a Business Choose the Amount of Family Health Insurance Coverage?
As a small business, you get to choose the amount you are willing to contribute to the insurance premium paid by your employees. The company will get similar tax credits and health subsidies that individuals do, to help them offset the cost of the insurance. Family health insurance coverage will be based upon the same criteria as individual insurance and will be just as flexible.
There are many other benefits of offering insurance to your employees. Since everyone will be required to have insurance by January 1, 2014, why not help your employees by making sure they have the best coverage possible? This gives you the benefits of having your employees regain their health faster, in the event of a sickness or injury, because they will be able to visit the doctor and take full advantage of medical treatments as quickly as possible.