Small Business

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  • There is a distinction between ‘small’ and ‘large’ employers when it comes to health insurance. For group health plan purposes, a small business is an employer that has between 1 and 50 employees or a business partnership (between family or non-family members).
  • Offering health benefits to employees means not only better access to care for them, but more manageable costs for the employer and employees that work for them.  Employees with health insurance are protected from the financial burden that can arise from illnesses or injuries, as well as preventive care maintenance that can help reduce sick days, and lost productivity.
  • Businesses with 50+ employees that do not offer insurance and even some that do can be subject to fines if an employee purchases health insurance on the exchange and receives a subsidy or if the employer sponsored coverage is not considered ‘affordable’ or does not meet the minimum requirements for coverage.
  • Businesses with less than 50 full-time employees or full-time equivalents will not be subject to these penalties.
  • Some small businesses with less than 25 employees are eligible for a temporary tax credit of up to 35 percent to offset the cost of providing insurance to employees.