Changes in health care requiring which employers have to offer health insurance may have the business owner shopping for a high quality yet affordable provider for employees. Options for Group Health Insurance in NJ can seem overwhelming and complicated. You may not know what the best options for you and your company are, and you want to offer you employees comprehensive coverage at a rate that won’t hurt your profitability.
There are several options for Group Health Insurance in NJ including but not limited to Aetna, Horizon, Amerihealth, and Health Republic. Oxford is an insurance provider that caters toward small groups, while United Health Care specializes in large groups. Insurance providers know how to navigate the system of employee benefits, individual health care plans, life insurance, disability insurance and long-term care planning. They provide the best insurance plans from multiple companies to find an ideal fit for your business.
For small businesses, an added expense such as health benefits may have business owners concerned about their ability to adequately provide coverage for their employees in a cost-effective manner. Because the new laws require businesses to offer health care coverage, federal tax credits have been initiated to provide reimbursement for up to 35% of the premiums employers pay towards medical, vision and dental coverage for their employees. Certain criteria must be met to qualify for the tax credit. The company must have less than 25 full-time workers; even if the total number of employees (part-time or less) is greater. The average annual salary paid must be less than $50,000 per worker. The employer has to pay at least 50% of the total premium for employee coverage, not including dependents. This can provide some relief from the expenses of health care coverage for the employer.
The Affordable Care Act has changed the way insurance is offered and how we provide it. More employers are required to provide health care benefits to more employees, an expense that businesses, especially smaller businesses, haven’t had to deal with before. The laws are changing quickly but insurance providers stay up to date on the latest information for individual and group policies. You can click here to read about your options for Group Health Insurance in NJ and fill out a contact request for more information.
