Business owners who employ more than 50 full-time equivalent employees must offer employee health insurance benefits per the Affordable Care Act (ACA). Small business owners who meet these criteria often struggle to know how to find good employee benefits insurance in Oceanside that’s beneficial to their employees and affordable. Here are some tips for finding the right small business insurance.
Learn the Requirements for Tax Credits
Some small business owners get a tax credit of up to 50% to cover their premiums. Not all businesses qualify, but it’s worth asking one’s accounting and tax professional if they can claim this credit. Costs over the credit might also be eligible to be claimed as legitimate business expenses.
Work with a Broker
There are a couple of reasons why small business owners what to work with a health insurance broker for employee benefits insurance. First, understanding all the plans available and determining their pros and cons gets overwhelming. A broker can guide business owners toward products that make the most sense for their employees and their business’s bottom line.
Secondly, businesses can’t outright buy insurance from Healthcare.gov. Employers interested in purchasing these plans have to go through a broker to initiate and complete the process. Although some employers might initially be turned off by the idea of not being able to purchase plans themselves, working with a broker is advantageous. It’s the easiest way to ensure one’s business is compliant with healthcare laws for employers.
To learn more about small group employee benefits insurance in Oceanside, contact Serra Benefits & Insurance Services online at http://serrabenefits.com.
