Get ready for ACA enrollment

By Suzanne Smaltz, HealthMarkets Insurance Agency

With open enrollment for Affordable Care Act (ACA) coverage just a few short weeks away (Sunday, November 1-Tuesday, December 15), small business owners with employees who aren’t covered under a group health insurance plan but are enrolled in an ACA plan and are therefore responsible for obtaining and paying for their own coverage may be wondering how they can reimburse employees’ individual market premiums.

New regulations finalized in 2019 allow employers of any size to reimburse employees for the cost of individual market coverage, starting in 2020.*

While the guidelines surrounding this law are complex, I can help a small business owner determine if he or she can or should reimburse employees for their ACA premiums.

The law requiring healthcare coverage is still in place for Ohioans. People with preexisting conditions and those who qualify for subsidies may want to stay with or elect an ACA plan. Others may wish to choose a plan outside of the ACA. The best way to find out which coverage options are right for you as an individual, or your employees as a small business owner, is to schedule a time to meet with me to go over your individual circumstances. As always, my guidance is free of charge.

Licensed insurance agent Suzanne Smaltz, with HealthMarkets Insurance Agency, is located at 526 S. Main Street, Suite 104, in Akron, inside the Bounce Innovation Hub. To schedule an appointment, call 330-285-3600.

HealthMarkets Insurance Agency, Inc. is licensed as an insurance agency in all 50 states and the District of Columbia. Not all agents are licensed to sell all products. Service and product availability varies by state. Agents may be compensated based on enrollment. No cost or obligation to enroll. *Source, VeryWellHealth.com/employer-reimbursal-of-individual-premiums-4065150 46627-HM-1120