Group Health Insurance

Health Insurance is an integral part, and commonly the corner stone of most employee benefit programs, providing insurance against the risk of incurring catastrophic medical expenses. Coverage provides reimbursement of expenses incurred as a result of pregnancy, sickness or injury.

In 2014, under the Affordable Care Act (ACA) the Individual Mandate goes into effect.  The Individual Mandate requires all non-exempt individuals to maintain the minimum essential health coverage for themselves and all non-exempt family members or pay a penalty, called the individual shared responsibility payment, with their federal income tax return. The individual’s health insurance coverage is required to provide the minimum essential coverage or an individual would pay a potential penalty for non-compliance. To meet the individual mandate, coverage may be obtained through government programs such as Medicare or Medicaid; an employer or individual insurance market; or through the Exchange.

In 2015, employers with 100 or more full-time or full-time equivalent employees will be subject to the Employer Mandate and may be subject to a penalty if they do not offer health coverage to their full-time employees.  Even if the employer does offer their full-time employees health coverage, the health coverage must:

  • Provide minimum essential coverage
  • Be affordable
  • Meet the minimum value requirements

If an employer does not offer health coverage to its full-time employees, or the coverage is deemed to be unaffordable or does not meet the minimum value requirement, then the full-time employees may obtain health insurance through an exchange and qualify for a premium subsidy. An employer penalty would apply if an employee applied for coverage on the exchange and was deemed eligible for a subsidy either because the employer did not offer a plan that included the minimum essential coverage or the coverage the employer offered did not meet the minimum value or affordability requirements.

Beginning in 2016, employers with 50-99 full-time or full-time equivalent employees will be subject to the same Employer Mandate provisions outlined above.

While Midsouth Benefits provides you with the guidance needed to navigate through the Health Care Reform maze of regulations and compliance requirements under the Affordable Care Act, we never lose site of the bigger picture.  By effectively communicating and sharing our knowledge of the health insurance industry and trends, Midsouth has proven capable of providing solutions for employers without cutting back on benefits.

We achieve this by:

  • Evaluating needs using a personalized and client centric approach
  • Providing strategic planning that defines objectives and outlines actions needed to achieve insurance goals
  • Utilizing expertise of the Midsouth team to analyze and streamline the carrier/vendor selection process
  • Educating employers on all aspects of the insurance process and providing employees with a better understanding of healthcare and the value of benefits.
To find out how we can help you with your Group Health Insurance, contact us by email or 770.579.7099

4994 Lower Roswell Road, Suite 5 Marietta, GA 30068