Business owners have a new resource for information about the upcoming health care changes and requirements under the Affordable Care Act (ACA), also known as “Obamacare.” A new website enables employers to enter their business’s information, including current health insurance information, company size and location, and receive information about changes under the ACA, as well as the requirements and penalties under the law.
It’s important for business owners to understand the requirements — even those who believe they are already in compliance with the law. For example, consider a California business owner of more than 50 full-time employees who offers health insurance to his employees and plans on continuing to do so. He may believe that since he already offers his employees insurance, he is compliance with the law. But this may not be the case, as health plans must meet minimum coverage requirements under the health care law.
Among the information the website offers businesses is the timeline for implementation of key features of the ACA, the key things an employer needs to know about the new healthcare law, and whether an employer must offer coverage to his/her employees in order to avoid penalty fees under the law.
Although individuals will be required to carry insurance as of January 2014, businesses with more than 50 employees have been given an extension until 2015 to offer insurance to employees without penalty.
Always Consult an Expert
As a business owner, you want to make sure you are in compliance with the law and that you’re receiving the most comprehensive coverage at the best price for your employees. Benefit Packages has been in the business of health insurance for over two decades and will be an Exchange Certified Agency in California. We work with well-known carriers like Anthem Blue Shield and Blue Cross of California, and our experts will help you understand how the changes to healthcare will affect your business and find your best options for coverage. Visit our website or call us today at 1-800-356-3615.