At any point during the year, a business can decide to join a group healthcare plan and begin enrolling their employees. However, the company must meet certain participation requirements, which can be challenging for smaller businesses. You might also be required to contribute a certain amount toward the plan premiums.

However, during Small Group Special Enrollment each fall, any business can start a group healthcare plan with a minimum of one enrolled employee. And you won’t be required to contribute to premiums!

This opportunity allows smaller employers, who often lack the budget or participation required to enroll in a group healthcare plan, to provide this valuable benefit to their workers. And if you establish a cafeteria plan for your employees, they can pay their healthcare plan premiums with pre-tax dollars. Taxable income is lowered and families can save a significant amount on their income taxes each year.

Employees appreciate the ability to participate in larger networks and access more providers, and of course they benefit from high quality healthcare that potentially saves them money. Employers appreciate a healthier, more satisfied, more loyal workforce. Everyone wins!

If you don’t meet qualifications set forth by the Affordable Care Act in order to take part in a group healthcare plan, Small Group Special Enrollment will be your opportunity to help your employees access a variety of options.

But do take note: The Small Group Special Enrollment Period begins on November 15 and only lasts one month. That only gives you 30 days to review plan options, make a decision, and notify employees of the potential new benefit. Contact one of our group health plan experts now, so that we can begin the process of comparing plans. Then we can help you select the options that are right for your business, and guide you and your employees through the process of enrolling in a quality group healthcare plan.