Get Help With Insurance

FAQs

For small companies (less than 100 employees):

1. How many people are needed for group/company health insurance? Only two people and one must be a W2 employee.   A husband and wife do not qualify as a group.
2. Can 1099s be covered under company insurance? United Health Care does offer coverage for 1099s.
3. When can a company sign up for health insurance? Any time during the year but the start date must be on the first of the month.
4. How much must a company pay for the employee’s insurance? 50% of the premium of the lowest price plan that is offered.
5. Does a company have to offer insurance to part time employees? With health insurance, 30 hours per week is considered full time and all employees working 30+ hours must be offered insurance.  For those working 20-29 hours per week, it is up to the company if they want to offer it.   Insurance is not available to those working less than 20 hours per week.
6. Why not just give the employees extra money in their paycheck and let them buy their own insurance? There are a number of reasons but the main ones are that you are paying payroll taxes on that money and you can’t write it off like you can health insurance the company pays.
7. Does a company have to pay for dental and/or vision insurance for its employees? Yes, the company must pay 50% of the premium.
8. What if a company wants to offer health insurance but it really is unaffordable. Is there another option?  Yes!  There is what is called a health share ministry.  It is not insurance but it functions like insurance.  There are some restrictions though.   Call me and I will explain.

For individuals:

1. When can I sign up for health insurance? Open enrollment is November 1 – January 15.  For a January 1^st start date, you must apply by December 15^th.   You can enroll any time during the year if you qualify for a special enrollment.  Qualifiers are things like losing company coverage, getting married or divorced and some others.
2. How do you qualify for a subsidy? It is based on age and income.  An agent or broker can help you to determine if you qualify.
3. If I do qualify for a subsidy, how much will the subsidy be? It depends on age and income.  The older you are and the less you earn, the higher the subsidy.  If you are an individual and your adjusted gross is more than $48,560 you do not qualify.  For a couple, it is $65,840.
4. What is the penalty for not having insurance? In 2019, there is no penalty.
5. I don’t qualify for a subsidy but I can’t afford insurance. Is there another option?  Yes, there is what is called a health share ministry.  Call me and I will explain.