Just the other night my spouse and I were having dinner with his boss and the conversation turned to the health care reform bill and what it means for Florida group plans. I was very surprised when I heard my spouse’s boss complain about being told he had to purchase coverage for his employees. It was then that I realized how confused many people, especially small business owners are about the Bill and what it means to them. So, I decided to settle the biggest myth about how the Affordable Care Act actually affects small businesses.
Myth: All businesses must purchase health insurance for their employees by 2014.
Not true! The general rule here is if you have more than 50 employees then you have to purchase health insurance but if you have fewer than 50 full time employees on your payroll then you and your company will be exempt from the “tax.”
The fact is the vast majority of businesses in the United States, including my spouse’s company, will not be affected by any penalties for not purchasing Florida group plans.
Keep in mind also that small businesses with less than 50 full time employees who choose to do the right thing and offer health insurance coverage for their employees will be able to purchase coverage at a discount through state run health insurance exchanges which should net a nice savings and those businesses with less than 25 employees making less than $50,000 per year will also remain eligible for the existing health care tax credit.
No matter what your choice, a Florida group plans or an individual policy gives us a call at (866-217-2873 to talk with an expert about your needs and your options. If you already know what you are looking for then click the link above and take advantage of our fast free quote engine.
We are health insurance consultants with many years of experience in the health insurance field and access to multiple health insurance company’s plans and pricing. We will work with each you to find the right group or individual health insurance plan to fit your needs and budget. Serving clients in and around Greater Jacksonville, Orlando, Tampa, Miami, Florida and more. Contact us at 866-217-2873.
Rodger S. Kamuf is registered with and offer securities through Kovack Securities, Inc. Member FINRA/SIPC. 6451 North Federal Hwy, Suite 1201, Ft. Lauderdale, FL 33308 (954)782-4771. Advisory Services offered through Kovack Advisors, Inc. a SEC registered investment advisory firm. RK Asset Management LLC is not affiliated with Kovack Securities, Inc. or Kovack Advisors, Inc. Registered Representative may only conduct business with residents of the states and/or jurisdiction for which they are properly registered. Linked sites are strictly provided as a courtesy. Kovack Securities, Inc. does not guarantee, approve nor endorse the information or products available at the sites, nor do links indicate any association with or endorsement of the linked sites by Kovack Securities, Inc. nor Kovack Advisors, Inc.