Become a Credible Employer: Why it’s Important in Light of Healthcare Reform
If you think you have plenty of time to get in compliance with the Patient Protection and Affordable Care Act, think again.
If you’re not currently offering medical insurance for your workers, you’ll face some challenges when shopping for coverage. The reason is that health insurance providers look at a group’s history when setting rates for coverage. Employers who have more than 100 employees and don’t have claims history will probably find it difficult – and more expensive – to find health insurance coverage. Companies with fewer than 100 employees who are not currently offering health insurance will not have rate history for providers to consider when setting premium.
Take action now to become what insurance companies refer to as a “credible employer”. One of the advantages of working with The Contractors Plan is that our plan is held in trust, so your company becomes part of a larger pool for rating purposes. This has significant advantages and usually results in a more affordable premium.
Fines for non-compliance start in 2014, which isn’t that far away. Contact The Contractors Plan for more information on how to start positioning your company to comply with PPACA today. The longer you wait, the more difficult it will be to obtain coverage, and it’s likely costs will be higher as well.
We’ll be posting more information about health care reform and its impact on government contractors on our blog. If you have questions, please give us a call or email firstname.lastname@example.org.