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With over 76 years of experience, The Jordan Insurance Group is an industry leader in Life Insurance strategies and Employee Benefits. We strive for excellence through our due diligence in selecting products to satisfy our clients’ needs with proven benefit designs and tax strategies. Our Team utilizes a diversified multi-level approach in preserving, protecting and growing wealth for our business and individual clients.

The ACA and your Business: What does it mean?

William Jordan William Jordan , 1/13/2014
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The Jordan Insurance Group, MD, ACA and BusinessThe Affordable Care Act is now underway as of January 1, 2014.  Changes are affecting millions of people all over the United States.   People who previously could not get health insurance are now insured, and some insured people are seeing changes in their health insurance.  Businesses are affected by the Affordable Care Act also, but how? Businesses with 50+ employees must offer group health insurance to everyone.  What if I choose not to?  You will have to pay a fine by December 31, 2014.   What if I do sign our business up?  Wonderful, let's find ways to make it affordable for your employees.  If health insurance costs more than 9.5% of your employees families income, than it is too expensive.  It would be a good idea to go another route, otherwise you will face a fine of $3,000 per employee until health insurance becomes affordable. At this point, it would be a good idea to explore all cost reducing options so that you can offer affordable health care. Businesses with 50 or less employees can choose to not offer any health insurance.  But we still want to help.  Great!  Here's a few options for you:  Small businesses who don't offer affordable health care can choose to pay health care costs relating to their employee.  There is no minimum or maximum amount of money you need to contribute.  You can also choose to provide group coverage, even though you are not bound by the Affordable Care Act law, making you an awesome employer. Do you still need clarification?  Contact The Jordan Insurance Group today at 410.312.0811for more information. Content provided by Transformer Marketing.