ObamaCare compliance for small businesses can be tricky. Even the smallest employers have requirements they HAVE to comply with or face penalties. As part of our service, we help all of our small businesses to comply with the ObamaCare rules. Some are fairly easy, like having the Summary Plan Designs and Summary of Benefits and Coverage available for employees upon them asking. Your broker should have set you up with those papers in a neat binder to hand out to satisfy the ObamaCare requirements. The SBCs are a bit more complex, and have examples of what the employee could possibly pay given certain examples like birth of a child, a surgery, etc. The SPDs are a bit easier and are actually a handout of what the company plan covers with copays, deductibles, etc…..
One of the first things I ask an employer that I meet is if they are compliant with the ObamaCare regulations. Some tell me that they are exempt because they are small, others tell me that they have until 2014 to comply, and others look at me with a very confused, almost embarrassed look. When I gently tell them that they should ALREADY have the required ObamaCare compliance paperwork in place, that usually sparks another conversation, which sometimes leads to an angry phone call from them to their broker.
ObamaCare compliance for Small Businesses is VERY easy to set up. If you have a broker that “specializes” in Health Insurance or Employee Benefits, they should be dialed into the whole ObamaCare compliance. If not, YOU may be at risk. Remember, the ObamaCare compliance requirements fall on the EMPLOYER, not the broker. So, if you are found to be in violation, it’s the company that suffers….not your lazy or incompetent broker!….was that too harsh??
Brauer Insurance is an expert at ObamaCare compliance for Small Business. We have a unique protocol that WE put together for our clients that completely insulates the employer from liability….Oh, and did I mention that this service is ) FREE!?
Steve Brauer-Principal/Broker….Brauer Insurance Services LLC….(408) 421-5555