The Affordable Care Act (ACA) is the national health reform, which includes new responsibilities and opportunities for employers.
The ACA makes it easier for employers to offer quality health insurance to all employees.
- The ability to offer great insurance is a competitive advantage in the labor market.
- By providing quality insurance plans to employees it is easier to recruit and maintain talent in your workplace.
- Employees are happier, healthier and more productive.
- You can’t be turned down based on the health status of your employees or their dependents, even if they have pre-existing conditions.
- You can’t be charged higher premiums for women, or have your group’s premium increased for employees with high medical costs.
The official ObamaCare enrollment period ended on March 31, 2014. Important Notice: Its urgent, to avoid future fines and penalties, to sign up for health insurance under the Affordable Health Care Act.
Colorado Individuals & Families: Find out the most cost efficient healthcare insurance for you.
The place to buy insurance is Connect for Health Colorado. A Marketplace that is easy and fast to use. It simplifies choices, expands employee options and helps you set your benefit budget.
If you need any help, the Marketplace has a Customer Support Network. You can visit Colorado’s ObamaCare website online.
The ACA makes Federal tax credits available for small employers ad non-profits to help cover the cost of health insurance for employees and their families.
To qualify, employers must:
- Offer health insurance to all full-time employees and cover at least 50 percent of the cost of single coverage.
- Employ fewer than 25 full-time workers.
- Pay average annual wages below $50,000 (not including the wages of owners and their families).
Connect for Health Colorado has a calculator available to help employers find out if they qualify for a tax credit, and if so, what amount to expect.
The results from the calculator are an estimate, but it gives you an idea of the possibilities.
You can access the calculator on their website.
To apply for health insurance coverage through your place of work you need a “Participation Code.” This code must be provided by your employer. Once you have it, you will be able to shop from plans selected by your employer.
Your employer determines the type of coverage offered and how much of the premium you will pay.
If your place of work does not offer health insurance you can shop for coverage through the Individuals and Families Marketplace.
Employee’s family members can be covered through a job-based insurance or by the Individuals and Families Marketplace. If they find coverage under the Individuals and Families Marketplace they may be eligible for financial assistance to reduce the cost of health insurance or for other programs.
Colorado’s Marketplace is Connect for Health Colorado.
If you are self-employed or designated as a business group-of-one, you can also use the Marketplace for Individuals and Families.
All plans in the Marketplace provide more comprehensive coverage and are in compliance with new federal requirements.
The following carriers offer a broad range of health plans in the Small Business Marketplace:
- Anthem Blue Cross and Blue Shield / HMO Colorado
- Colorado Choice Health Plans
- Colorado HealthOP
- Kaiser Permanente
- Rocky Mountain Health Plans
- SeeChange Health
Thanks to the Affordable Care Act small employers and non-profits have the option to offer their employees a multi-carrier, multi-plan menu of choices previously not available in the small group market.
It benefits employers by letting them choose their level of contribution toward employees’ coverage, which lets employees use this contribution to purchase the plan of their choice. It also benefits employees by giving them more health insurance options.
What is SHOP?
The Small Business Health Options Program (SHOP) is a part of each States Health Insurance Marketplace, where small businesses with under 50 full-time equivalent employees can shop for group health plans.
You can use SHOP through Connect for Health Colorado to buy insurance.
SHOP has an Advisory Group that informs the business processes, tools, and support functions that serve the Connect for Health Colorado small business consumers.
If you have any questions or concerns help is available.
Call or chat with a Customer Service Center Representative Mondays through Saturdays from 7 am to 8 pm at 1-855-PLANS-4-YOU (855-752-6749) or call 303-590-9675 if you are outside the United States. If you are hearing impaired, please call our TTY line: 855-346-3432.
Alaska Individuals & Families: Find out the most cost efficient healthcare insurance for you.