URGENT – Small Business Owners

Healthcare Open Enrollment – Opportunity

Under the Affordable Care Act (ACA), small business employers (1 – 50 employees) must have at least a 70% participation rate (75% in NJ) of their employees to qualify for a Group health plan. The participation rate is based on the # of employees in the plan plus those with valid waivers (coverage via spouse, Medicare, or Medicaid) as a percentage of total employees.

For example, if the total employee count (including owners) is 5, then at least 4 employees must be in the plan or supply a valid waiver for the employer to qualify for a Group plan.  This 75% requirement makes it difficult to qualify for Group health coverage, especially for small employers.

GOOD NEWS – from Nov 15, 2015 through Dec 15, 2015 the 75% participation is not required. During this short window of time, small employers can apply for Group health coverage without any participation requirement for an effective date of Jan 1, 2016.

If you are a small business owner who desires having a Group health plan but has not been able to qualify due to the participation requirement take action NOW by calling us at 973-771-5120 or visiting us at http://www.mywealthdirection.com/Directional-Benefits.10.htm