Healthcare reform brought on some big changes last year, and they continue into the next few years. So what does 2015 hold? Your best bet is to get information directly from your independent insurance agent, but in the meantime, here are a few of the highlights.
Larger employers that employ 50 or more full-time employees must offer health insurance to at least 95 percent of full-time employees and their dependents beginning in 2015. If your company does not offer healthcare, it will be penalized with a fine.
But it’s not as simple as offering health insurance; that coverage must also meet certain requirements. Health insurance must be affordable for your employees, which is defined as their share costing no greater than 9.5 percent of their household income. Coverage is deemed affordable or not based on the lowest cost individual healthcare plan available to the employee, regardless of whether or not he or she chooses family coverage.
All healthcare plans must offer the minimum essential coverage, which basically means comprehensive coverage. It must also provide a minimum value, meaning that the plan’s estimated share of benefits must equal at least 60 percent of estimated healthcare costs. Employees will be responsible for funding the rest.
Do you have questions or concerns regarding employer healthcare? Give us a call for more detailed information.
We’re here to help. Call Sound Benefit Solutions at (925) 244-1330 for more information on San Francisco health insurance.