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Do I need to offer benefits?

Do I need to offer benefits?

If you have 50 or more full-time employees (or the equivalent), the Affordable Care Act (ACA) mandates that you have to offer access to health insurance to your employees.  You are not required to contribute the entire cost of benefits, but with 50 or more full-time or equivalent employees you must offer access to coverage through your business. 

It is important to understand that the way the ACA defines a full-time employee or equivalent may be different from the way you define it within your organization. Noncompliance with the requirement to offer coverage through a group plan carries stiff penalties.

If you are not sure how to count the number of full-time or equivalent employees you have, we’ll help you determine your requirements.  These kinds of questions are foundational to our consultation process. 

If you are a smaller business with less than 50 full-time employees or equivalent, you are not required to offer benefits.   However: 

  • It may still be advantageous for you to do so.  Keep in mind that as an employer you can offer certain benefits that employees don’t have access to on their own, and that benefits are often a deciding factor in whether a candidate accepts a job.  Are the benefits you’re offering helping you attract and retain the top talent in your industry?  If cost has been a deterrent, small employers can rest assured that Arrow specializes in maximizing ANY budget to deliver attractive plans that meet the needs of your group.
  • Just because you could, doesn’t mean you should.  There may be times when it is not in your organization’s best interests to offer group coverage. It may prevent your employees from qualifying for subsidies they’d otherwise be eligible for, and you could needlessly absorb those costs in your contributions to a group plan.   

Not ready to offer benefits yet? That’s ok, Arrow will help your employees on an individual basis.

If now isn’t the right time for you to offer group benefits, Arrow is happy to help the people you care about explore and compare their individual coverage options, with no cost or administrative involvement on your end, no pressure to buy coverage and – we promise – no harassment from bots!  We’re here to alleviate everyone’s stress not add to it.  

We make this advocacy resource easily accessible by providing you with a convenient, confidential, HIPAA-protected web portal that allows your employees to:

  • Click to schedule a phone/virtual consultation with one of our licensed experts
  • Send us a secure message and upload any documents they would like us to review
  • Browse rates and apply for coverage directly with the major insurance carriers
  • Get help applying for subsidies through the Maryland Health Connection
  • Get help comparing all their options including other coverage they may have available through a spouse/partner, Medicare or COBRA
  • Text us with any questions from our chat feature

Getting your personalized portal is fast and easy.  Schedule a call and we’ll show you a quick demo, brand it with your logo and send you the link to share any way you like. It’s easy for your employees to access with no logins, passwords or profiles required, they can begin using all the features with one click.