Small Business Health Insurance in Georgia
Every business comes with its own unique set of challenges. However, finding affordable health insurance is a challenging task most all small business owners must go through.
Understanding the options you have for small business health insurance in Georgia is an important step you need to take before you can choose which health coverage is best for your employees.
Use this guide to help you consider all of your potential small business health insurance options before making your decision.
Georgia Small Business Health Insurance Options
The Affordable Care Act defines a small business as 50 or fewer full-time equivalent employees. In the state of Georgia, health insurance for small businesses falls into two primary categories: Individual and group.
- Individual health insurance plans are purchased by individuals to cover themselves and/or their families. Small business owners who can’t offer group plans typically acquire individual plans.
Keep in mind that Individuals can only get individual health insurance during open enrollment ( 11/1/17 thru 1/31/18) Outside those dates , they can only obtain it if they have a Qualified Life Event or QLE such as loss of coverage, marriage, divorce , death and child birth among others.
- Group health insurance plans are a type of employer-sponsored coverage. The costs are usually shared between the employer and employees, with coverage potentially extending to dependents as well.
As you weigh the benefits of each plan, remember – the best small business health insurance plan for your business ultimately depends on your needs, your employees’ needs, and how much you’re willing to spend.
For employees to be eligible for small business health insurance in the state of Georgia, they must be:
- Listed on the DOL-4 (Quarterly Tax and Wage Report)
- Working 30 or more hours per week*
- Covered by worker’s compensation insurance
* If you and your employees are salaried, the salary must at least meet the equivalent of what a Georgia employee would earn working 30 hours per week at minimum wage.
Additional Resources for Your Georgia Business
- The U.S. Department of Labor provides useful information on the reporting requirements for Small Businesses
- A guide to the 2016 Employer Mandate changes
- You can also contact us at ShopBenefits.com by filling out a contact form online. We’re always happy to answer any questions you may have – it’s why we’re here!
Shopbenefits.com is committed to making insurance easier and more accessible for businesses of all shapes and sizes. Contact us for your complimentary review or call (404) 256-2171 and ask for Al Schiebel to get your affordable quote today!