What if I told you there are opportunities for small business owners to attract better talent and have healthier employees? Here are 3 ways the ACA can benefit small business owners.
1. Better recruiting and higher retention.
You now have the opportunity to reinvent your employee benefits for your small business. Gone are the days when only the larger employers could offer the benefits it takes to recruit the best employees. With the ACA, you are now able to offer employees access to discounted health insurance benefits such as individual health insurance which provides qualifying individuals access to premium tax credits.
2. Think outside of the box – Self-Insurance.
Your Group is never too small to self-insure. Before the ACA small business owners had limited options for providing health insurance to employees and the idea of self-insurance was just for the big boys like Walmart, Target, etc. but now it’s available to all business owners. We want to help you offer affordable competitive benefits through self-insuring.
3. Increased productivity.
We have programs in place to improve your employees productivity, employees who have enhanced access to health insurance services and options tend to be healthier and cost your business less. Healthy employees are able to come to work more and produce at a higher level of productivity versus an employee who does not have access to health insurance services and is constantly sick. Some of the unforeseen costs of having sicker absentee employees are their replacement costs. The expense of finding a new worker, training them, allowing for their learning curve, et cetera.
These are just some of the ways the Employer Mandate benefits small business owners. Stay educated, we are a resource for your questions and here to help you. Contact FreedomCare today.
*For purposes of the employer mandate – FTE classifies all employees who work 30 hours or more.