Fully-insured health insurance is imperative for attracting and retaining talented employees. We are here to help your business be successful by providing the best benefits packages at the lowest rates and communicating those benefits to your employees. Every business has unique needs and listen to you. We shop all of the major carriers each year at renewal and hold enrollment meetings to help your employees select the right coverage.
Because of the Affordable Care Act (ACA) , small groups can purchase group health insurance inside or outside of the Health Insurance Exchange. The ACA offers employers’ tax credits if they offer their employees group health care and if the employer pays at least 50% of the employees’ portion of the health care premium.
The Connect for Health Colorado website has a tax credit calculator for small employer groups.
If your group meets the criteria, you may be eligible for a tax credit at the end of the year. Here are the basic parameters:
- You have fewer than 25 employees.
- The average wage of the employees must be under $50,000.
- Owners and their families are removed from the calculation.
- You must pay a percentage of the employee premium in order to benefit.