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September 12, 2014September 8, 2016

How Obamacare Will Affect Your Small Business

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.

August 29, 2014September 8, 2016

5 Reasons The Insurance Agent Is More Important Than Ever

Despite common initial reaction to recent health care reform, health insurance brokers are still important, if not more important when it comes to the health care industry. With the majority of California residents still wondering how the Affordable Care Act will affect their lives, insurance brokers are able to help individuals and small businesses navigate through the various health insurance regulations. Gathered are 5 reasons why your insurance broker will become even more vital of an asset to you:

If you are one of the many individuals who will be purchasing health insurance for the first time, your insurance broker will be able to answer any questions you may have, and guide you through the process of successfully enrolling in health care.
Your insurance agent will be able to tell you whether or not your existing health insurance plan can become a grandfathered plan where you can keep it. You can even ask your insurance agent to help you determine which plan is the most cost effective and which provides the most benefits to you.
As a small business owner, you may be able to purchase SHOP coverage through your insurance broker. Likewise, your insurance agent can help make sure that you are following all new rules and regulations under Obamacare, and help you assess the various health insurance options.
As a small business owner, you can utilize the various benefits of having an employee benefits broker by your side. Your insurance broker will be able to manage your health care costs while ensuring that your organization complies with all rules and regulations.
Most importantly to note, your insurance agent has been in the industry far longer than any health care reform navigator, therefore, they will best be able to assist you.

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. Contact Bernardini & Donovan Insurance Services for all of your California health insurance needs.

August 11, 2014September 8, 2016

SHOP: How It Can Benefit Your Small Business

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 15^th of the month, coverage will begin on the 1^st 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.

October 4, 2013September 8, 2016

Small Group: Covered California Opened for Enrollment Oct. 1st

Due to the signing of the Affordable Care Act, most adults will be required to purchase public or private insurance by the beginning of the new year or face a fine. Under California’s new Small Business Health Options Program (SHOP), Covered California opened for small group enrollment on Oct. 1, 2013, for coverage beginning Jan. 1, 2014.

California businesses with less than 50 employees can benefit from better choices, online tools and competitively priced, small group health insurance plans similar to those previously only available to large group employers.

While small businesses are not required to enroll in the Covered California’s SHOP, and are not penalized for not participating, the exchanges will allow you to more easily provide health insurance to your employees. In addition, some businesses with less than 25 employees may be able to take advantage of Federal tax credits only available through SHOP.

Small business owners can begin enrolling in the SHOP plans on October 1, 2013, when the health exchange opens. The plans are competitively priced, and will allow you to offer your employees the ability to choose from a variety of plans, while possibly qualifying for federal tax credits.

Are you ready for the new federal health care laws going into effect in 2014? If you have questions about how to provide affordable small group coverage for your employees, or are confused about how an exchange works, contact the Redlands, California insurance experts at Bernardini & Donovan Insurance Services today.

Tag: shop

5 Reasons The Insurance Agent Is More Important Than Ever

Small Group: Covered California Opened for Enrollment Oct. 1st

let Bernardini & Donovan find the right plan for you

let Bernardini & Donovan find the right plan for you

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