Health Insurance For Small Business Owners in Georgia

Health Insurance For Small Business Owners in Georgia

Health Insurance For Small Business Owners in Georgia is now easy to get.

The health reform acts that recently passed the House of Representatives will result in a lot of changes in Georgia small business health insurance plans. Changes will occur mainly in how business owners purchase Georgia small business health insurance plans. Most of these changes will not kick in until 2014.

One big change for health insurance for small business owners in georgia is the institution of Shop Exchanges, Small Business Health Options Programs. These SHOP Exchanges will enable small businesses to pool together to purchase Georgia small business health insurance plans. Each state will set up its own SHOP exchange. The purpose of this program is that it will lower Georgia small business health insurance plan costs, although it is predicted they will only be 1-4% lower under the exchange system.


Georgia Health Insurance

The definition of a small business will change too. Currently, a small business is defined as one with at least two employees, but no more than fifty. In the future, a small business will be defined as one with two to one hundred employees. Any Georgia business that meets that definition will be allowed to purchase Georgia small business health insurance plans. Small businesses that grow beyond the size limitations will be allowed to be grandfathered in, and will still be allowed to purchase Georgia small business health insurance plans for their employees. States may be allowed to limit pools to companies with less than fifty employees until the year 2016. After that, they will not be allowed to limit the pools.

Health insurance companies will not be allowed to increase Georgia small business health insurance plan premiums, or exclude coverage, based on pre-existing conditions. This is a major change from current insurance company policies. In the future, Georgia small business health insurance plan premiums can only vary based in geographic location, applicant's age, and the presence of tobacco use. At this time, health insurance carriers are able to increase premiums if the applicant's health is high risk, or exclude services for pre-existing medical conditions for up to eighteen months, typically.

In 2014, small business owners with more than fifty employees will be required to offer a Georgia small business health insurance plan to their employees, or pay a penalty per full-time worker. The Georgia small business health insurance plan coverage also will have to meet certain minimum benefits, which will include preventive medical care. Employers will have to face penalties if the Georgia small business health insurance plan coverage they offer does not meet the minimum requirements.

There may be tax credits offered to small businesses that offer Georgia small business health insurance plans to their employees, if they meet certain criteria, which may be a small number of full-time employees and not making a certain amount of income. Companies should check with a tax expert on whether they, and their Georgia small business health insurance plans, meet these conditions.

So, although the health reform acts will result in a lot of changes to small businesses and Georgia small business health insurance plans, most of these changes will not go into effect until 2014. Until that time, the Georgia small business health insurance plan market is still the same.

Health Insurance For Small Business Owners in Georgia

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