According to the Affordable Care Act (ACA), employers with fewer than 50 full-time employees or full-time equivalent employees, which, according to the U.S. Treasury, refers to employees who work more than 40 hours, do not have to provide group health insurance coverage. While this might enable some employers to save on their total operating cost, it does not mean much to most businesses in the U.S. To contextualize why this is the case, we need only look at an article published by the U.S. Small Business Administration (SBA), which referred to U.S. businesses that generate upwards of $40 million in sales annually and have a workforce of 1,500 as a “small business.” Essentially, any business meeting this criterion will, by law, have to provide group health insurance coverage to its workers.
Quality Group Health Insurance Coverage Made Easy
No one understands more than ArmadaCare just how challenging it is to run a business and comply with a government mandate requiring group health insurance coverage for employees at the same time. And for these reasons, this healthcare and insurance services firm proudly offers customizable coverage solutions that meet the unique needs of its clients. For example, ArmadaCare provides supplemental health insurance plans that allow employers more say in what is or is not covered by an employee’s insurance policy. There are even a few plans that cater specifically to employers with employees working remotely. Of course, it does not end there. ArmadaCare also offers comprehensive mental health coverage for employees. Lastly, nearly all these policies factor in generational shifts that can sometimes dictate the type of group health insurance coverage an employer might need.
All in all, depending on the size of your business, you may have no choice but to offer group health insurance to your employees. But doing so doesn’t mean you have to break the bank or settle for subpar coverage. To learn more about ArmadaCare, a leading healthcare and insurance services headquartered in Hunt Valley, Maryland, consider visiting them online at armadacare.com today.