Employees No Longer Reimbursed for Health Insurance Premiums
Not all companies offer employees health insurance. However, the Affordable Care Act has now made it a requirement for companies with at least 50 full-time employees to offer their workers health insurance. Some companies are still finding ways around that requirement.
Smaller companies that aren’t required to offer health insurance try to offer a “benefit” by reimbursing employees for all, or part, of the premium they pay for individual health insurance. However, the Affordable Care Act has ruled this to be a violation of federal laws. By providing cash reimbursement, employers are effectively creating a group insurance plan without actually meeting the requirements for providing group insurance.
The federal government has ruled similar workarounds to be violations of the ACA. For example, employers cannot work with insurance vendors to offer employees a reimbursement plan that also allows them to use tax credits for marketplace coverage. Employees are also prohibited from offering high-risk employees like seniors a choice between enrolling in a group health plan or getting a cash bonus.
By working with the St. Louis insurance experts at Senior Health Solutions, employers can find a group insurance plan that can better meet the needs of their employees while saving money.
St. Louis health insurance specialists find the right employee plans that meet federal guidelines Senior Health Solutions specializes in finding insurance plans for seniors, who often struggle with finding affordable health care. Seniors often find themselves in situations where employers want to reduce or deny their benefits, such as by offering cash reimbursements.
We encourage employers to call the St. Louis health insurance specialists at Senior Health Solutions to find group plans that not only meet the needs of their employees, but also meet federal health care guidelines and are affordable. We can help you find the group plan that meets your company’s budget without putting you at risk of violating federal laws and facing stiff penalties.
Call Senior Health Solutions today at (636) 244-4415 or fill out our online form to have a representative contact you with a range of insurance options.
