Frequently Asked Questions

Small employers (less than 50 full time equivalent employees) will not be faced with a tax penalty for not offering a qualified health insurance plan to their employees. Large employers (over 50 full time equivalent employees) will pay a tax penalty if they do not offer a qualified health insurance plan to their full time employees.

 No, group medical plans can be started any  month throughout the year. Keep in mind that your rates will stay the  same for 12 months and then renew the following year. At the time of  renewal, we quote all the carriers again to ensure that your company is  receiving the best plan and pricing. 

 Most insurance carriers require that 50%  of the eligible employees participate in the group medical plan;  however, small employers have the right to determine who is eligible.  Dependent upon their business entity type, a small employer with 2  managers may even be able to have 1 employee on a group plan. We can help you figure out those details!  

 Insurance companies base their prices on  the group’s average age, location, and SIC code. Once rates are  determined, an employer is only required to pay 50% of the employee’s  portion of the lowest priced plan. You may want to offer 2 plans, then  allow employees to “buy up” if they would like a richer plan. 

 There is NO ADDITIONAL COST to your business! This gives you more time and money to manage the day to day operations. 

 Most insurance carriers ask for your quarterly wage and premium report along with the first month’s premium to get started.