Texas Employer sponsored health insurance, or group health insurance plans, require a minimum of two full time W-2 employees to form a group. The employer is required by law to cover at a minimum 50% of the employees cost of insurance, but there is no requirement that the employer cover any of the cost for additional family members. The employer contributions are pretax and must be disclosed on the W-2. Group health insurance is still higher priced than individual/family plans and many small employers find it unaffordable.
In 2014 we have seen a significant number of small businesses terminate their employer sponsored group health insurance plans. If you are loosing your group plan, call Rhett to come by the business and help employees sort out their options on healthcare.gov or the private exchange.
The shop program has been postponed by Health and Human Services until 2016; however, some of the health insurance companies have put together a program that functions similar to shop. If you have fewer than 25 employees whose average annual income is below $50,000/year than you may qualify for some tax credits.
Schack Insurance brokers group health and dental plans from four of the major carriers. If you would like to shop for a group health insurance plan, please call Rhett – 817-261-1502.