It’s not too early for business owners to plan for the federal mandate that will require employers to provide to health insurance to workers.
Although the deadline for smaller companies (50-99 employees) isn’t until 2016*, business owners may want to start planning early. Census year 2015 will be used as the calculation year for companies, so there is still time to make changes. Chris Hennessey details planning strategies available to business owners in preparation for the looming employer mandate including:
- Managing the number of employees to avoid the 50 full-time equivalent employee threshold
- Utilizing consultants or leased employees
- Employing more part-time employees
- Controlling costs through more cost sharing or establishing a low cost, “skinny” health plan
*Employers with 100 or more employees are subject to the employer mandate beginning in 2015.