The Affordable Health Care Act (ACA) FAQ for Georgia Small Businesses
Successfully running a small business in Georgia is filled with many challenges – like the hiring and retention of employees. One of the most complex challenges for any small business is the world of health insurance. And with significant changes made to the Affordable Health Care Act each year, it’s increasingly important for you to understand the ACA and how it applies to your business.
First, let’s define Georgia small businesses according to the Affordable Health Care Act. If you have fewer than 50 full-time equivalent (FTE) employees, you are not considered an applicable large employer and are therefore not subject to the ACA’s employer shared responsibility provision.
This list of frequently asked questions will help you better understand the Affordable Health Care Act for Georgia Small Businesses.
Am I legally required to offer affordable health insurance to employees?
The short answer is no. If you have fewer than 50 FTEs, you aren’t required by law to provide health insurance for your employees. Deciding whether or not to offer coverage is up to you.
Whether you provide health insurance or not, if your business is covered by the Fair Labor Standards Act, you are required provide all new hires with notice about the ACA’s basic provisions. Get sample notices from the U.S. Department of Labor.
Are there any other eligibility and enrollment requirements?
If you choose to offer health insurance to your employees, you will need to follow any new requirements for eligibility and enrollment. For instance, the Affordable Health Care Act requires you offer coverage for eligible employees within 90 days from their employment start date.
How does the ACA protect my business?
The Affordable Health Care Act provides small businesses in Georgia with rights under the law. No matter where you purchase your employee health benefits with, insurance providers cannot turn down your company based on any pre-existing conditions or the health status of your employees.
How do I calculate FTE employees?
One of the largest ACA compliance concerns for a small, yet growing business is becoming an applicable large employer and having to comply with the employer mandate. This is especially true if your business is on the cusp of 50 full-time equivalent employees.
To determine your business’s number of FTEs, add up all the hours of your full- and part-time employees. As an example, if you have two employees each working 15 hours per week, that adds up to one full-time worker.
Get Help with Shop Benefits
To better understand the Affordable Health Care Act as it applies Georgia small businesses, many employers are seeking guidance from reputable health insurance advisers and health benefits companies. At ShopBenefits.com, we know navigating the world of health insurance can be complicated – and that’s why we’re here to help.
Our dedicated agents don’t just give you the link; we’re there to provide advice and a guiding hand whenever you need it. We’ll work with you to determine the number of full-time equivalent employees you have based on legal definitions and ensure you’re offering affordable, adequate coverage for your employees.
Have questions about the options and flexibility Shop Benefits can offer you? Please contact us online or call (404) 256-2171 and ask for Al Schiebel. Get your affordable quote today!