Tag Archives: group health insurance

As the various insurance implications surrounding Obamacare continue to affect both individuals and small businesses, it is important that you make sure that you are complying with the Affordable Care Act. Depending on the size of your small business and the amount of full-time employees that you have, you may be required to offer them health insurance. As we observe how recent health care reform is affecting our California small businesses, there are some trends that are worthy of acknowledgement:

  • Obamacare has contributed to the growth of consumer-driven health care. As a consumer-driven industry, employees and patients are acting as medical consumers and controlling how their health care allowances are spent. Since the responsibility of controlling health care choices is transferred to the employees, small business employers benefit from consumer-driven health care.
  • As a small business employer, it is important that you educate yourself of the various health insurance options available to you. When it comes to small businesses and health insurance, you have the luxury of offering your employees tax-free money so that they can make their own health insurance purchase.
  • The entire way employee benefits work is altered by recent health care reform. Rather than providing your employees with a group health insurance plan, you now have the luxury of offering your employees a health care allowance instead. If you have experienced the inability to offer your employees group health insurance in the past due to failure to meet minimum requirements, you can now offer employees this commodity, tax-free!

Contact Bernardini & Donovan Insurance Services for all of your California business’ health insurance needs. We understand that the various implications surrounding Covered California may have you confused, and that is why we are available to dispel any myths and reveal only the truth.

Did you know that as a small business owner with fewer than 25 employees you may be eligible to receive a tax credit? This is only of course if you qualify to offer your employees health coverage through the Small Business Health Options Program, also known as SHOP.

The Small Business Health Care Tax Credit is typically awarded to small businesses whose full time employees make an average of $50,000 or less annually. In order to qualify, you must be willing to pay at least 50% of the premium costs of your full time employee’s health care. You will not be required to offer health coverage to your part time employees or to the dependents of your full time employees. If you have fewer than 10 employees, expect to receive the ultimate benefits. The smaller your business, the larger tax credit you can expect to receive.

Employers abiding by the SHOP qualifications can receive up to 50% of their contribution towards employees’ premium costs. As a tax-exempt employer, you can receive up to 35 percent of your contribution towards employees’ premium costs in tax credits. Remember, this tax credit is only available for those employers who have provided their employees’ health coverage through the SHOP Marketplace.

How to Qualify for the Benefits of the Small Business Health Tax Credit:

  • You must have 50 or fewer full time employees in order to offer health coverage through the SHOP Marketplace.
  • As a SHOP member, you must offer health coverage to each full time employee.
  • In order to qualify, about 70% of your employees must enroll in your SHOP plan.
  • You will need to be relatively close to a SHOP service area in order to take advantage of this program.

Bernardini & Donovan Insurance Services strives to provide Redlands, California residents with excellent insurance services custom tailored to meet your unique needs. Contact us today and allow us customize a unique health insurance package for your family based on your needs.

 

With all the confusion surrounding the implications of the Affordable Care Act, it is imperative that you utilize all the available options as a business owner. The Small Business Health Options Program has been put in place to guide small businesses through the process of offering health coverage to their employees.

As a small business owner with 50 or fewer full-time employees, you are given the opportunity to take advantage of the Small Business Health Options Program Marketplace, also known as SHOP. If you are a small business owner with less than 25 employees, you may be eligible to receive tax credits when purchasing health coverage for your employees through the Small Business Health Options Program.

Benefits of The Small Business Health Options Program, Include:

  • You are in control of what coverage you offer your employees and how much you pay toward employee premiums.
  • Your business’ needs and your employees’ needs can be met by choosing between 4 different levels of coverage.
  • You can choose to begin coverage at any time. As long as you enroll by the 15th of the month, coverage will begin on the 1st of the following month.
  • As previously mentioned, as a small business with fewer than 25 employees, you may be eligible to receive a tax credit.

Qualifying Terms for The Small Business Health Options Program, Include:

  • Any business with 50 or less full time employees may be qualified to offer employees coverage through SHOP.
  • If you are interested in using SHOP, you must offer coverage to every single one of your full time employees.
  • If you are looking to use SHOP, you may be required to have a large majority your employees enroll in your SHOP plan. This percentage is typically around 70 percent.
  • You must be within the boundaries of a SHOP service area to utilize the service.

Bernardini & Donovan Insurance Services strives to provide Redlands, California residents with excellent insurance services custom tailored to meet your unique needs. Contact us today and allow us customize a unique health insurance package for your family based on your needs.

When a business gets started there are a number of things that need to happen in order to attract employees. One of the benefits that needs to be in place is health insurance. The Covered California SHOP Exchange is a way for small businesses to provide group health insurance for their employees. Here is how Shop works for small businesses:

How Shop Works

  • Each participant in the plan completes a profile and receives a group ID.
  • The employee of the company enters the SHOP program and they are then issued an ID of their own. In order for them to      access their plan they are also issued a password.
  • Once inside the plan the employee enrolls in the health plan that they need for themselves.
  • Once the employee has made their selections the employer then verifies that they work there.
  • All information is taken care of by the SHOP and then from there it is given over to the insurance carriers.

Any small business owners who have questions about the SHOP in California, should contact Bernardini & Donovan Insurance Services. They can help answer all of your questions about Covered California SHOP.

 

In California small businesses that are struggling to provide health care coverage for their employees now have hope. The Covered California SHOP (Small Business Health Options Program) Exchange will provide a greater selection of group health insurance coverage, previously only offered to businesses with larger numbers of employees. Small business owners who are interested in joining the Covered California SHOP Exchange can do so just as long as they have less than 50 employees, for the time being.

As part of this revolutionary program, small businesses with fewer than 25 employees, as well as an annual earning that is less than $50,000, can earn a 50 percent federal tax credit for any health care coverage that is purchased via SHOP. To date 375,000 small business employers in the state of California are eligible for this small business tax credit.

Here at Bernardini & Donovan Insurance Services we offer additional information regarding the Covered California SHOP Exchange. If you would like assistance in determining if you are eligible or how to be a part of the SHOP program, contact the insurance professionals at Bernardini & Donovan Insurance Services, located in Redlands, CA today.

 

New policies related to healthcare have many small business owners concerned of what is to come in 2014. News reports are tossing around penalty figures of $2000 per person per year. And that is just the start of the penalty scale. Bernardini & Donovan Insurance Services explains what a small business owner needs to know about his or her responsibilities under the Affordable Care Act:

  • Small businesses won’t be penalized. Businesses that employ less than 50 full-time employees will not be held to the employer responsibilities outlined in the Affordable Care Act.
  • However, you can qualify for a tax credit. A small business that pays average yearly wages of less than $50K, has less than 25 full-time employees and offers affordable health insurance could receive incentives in the form of a small business tax credit. Beginning in 2014, this credit could be up to 50 percent and will help offset group health insurance costs.
  • You may have more buying power than you think. According to HealthCare.gov, the average small business pays  18 percent more for group health insurance than a larger company would. Small businesses that employ less than 100 people on average will have access to the Health Insurance Marketplace, reducing costs by giving access to plans seen by larger corporation.

Contact Bernardini & Donovan Insurance Services at 877-251-2447 today for more information on group health insurance for small businesses.

You’ve finally found the dream job position you always wanted. It will offer a great salary and bonuses throughout your career. As you fill out the employee paperwork, you are asked on whether you want to participate in the employer’s health insurance program.

Joining Group Health Insurance Plans

Many employers who hire a certain number of employees will offer health insurance programs through the company. There are many benefits on why you should participate in one. While you will have a portion of your wages go into the health plan, your employer will also pay toward the costs. In addition, the insurance is group rated, which means you will have more opportunities of being placed on a good plan.

Most employers will give you the opportunity to choose the plan you want. Also, you may be able to place your spouse and your children on the same plan. Make sure you read about all the benefits and coverage you will get when you are asked to participate in it.

Find Affordable Health Plans Through Bernardini & Donovan Insurance Services

Just because you own a business doesn’t mean you should go broke trying to pay group health insurance for your employees. Find the insurance coverage that works for your company’s budget while letting your employees have the health insurance program they need to stay healthy by looking at the insurance products offered through Bernardini & Donovan Insurance Services. For more information about Bernardini & Donovan Insurance Services in the Redlands area, and throughout California, contact Bernardini & Donovan Insurance Services at 877-251-2447.

Your business has grown to the point where you can hire as many employees that you need to handle operations. You’ve developed the employee positions and hired the qualified workers. There is just one other thing you need to do: find the right employer’s health insurance plan that you can afford.

5 Steps Business Owners Can Take To Find the Right Group Health Insurance           

Finding the right health insurance and employee benefits does not have to be a long and arduous process. You can find the insurance you want and the one that your employees will be happy with by following these 5 steps.

Step #1: Research the Insurance Industry

Never purchase a product without finding out more about it. This includes health insurance. Find out about the industry and how it personally affects you as you can make smart decisions when it comes to buying group health insurance.

Step #2: Talk With Your Employees about Benefits

While you don’t have to ask your employees about health insurance, it is a good idea to get their opinion about it. Create a survey and ask them about the types of employee benefits they would like to have. In this manner, you can look for insurance that will cover their needs.

Step #3: Get Quotes

Ask your agent or broker to prepare different quotes so you can get a general idea on how much the insurance will cost.

Step #4: Compare Plans

Once you get the quotes, you can now compare the insurance plans so you are getting the most affordable prices with the best offered coverage. Now is the time to pull out the questionnaires your employees filled out so you can use their opinions to help with the decision-making.

Step #5: Commit To the Policy

Once you choose the policy, you need to commit to it without second-guessing yourself. Just move forward with your choice with the full knowledge that your employees are properly protected.

Bernardini & Donovan Insurance Services Provides the Quotes You Need

Choosing insurance is never easy, but it can be done if you are using the right company who offers affordable insurance products. Bernardini & Donovan Insurance Services offers premium group health insurance at the quotes you can afford. For more information about Bernardini & Donovan Insurance Services in the Redlands area, and throughout California, contact Bernardini & Donovan Insurance Services at 877-251-2447.