Skyline Benefit-Medicare & Covered California

Generally, employers are required to contribute at least 50% of the monthly premiums for each employee, while the employee contributes the remainder from his paycheck. The small business healthcare tax credits have been available since 2010, with significant changes implemented in 2014. To qualify for a tax credit of up to 50% of premium expenses for any two years, small business owners must pay at least half of employees’ healthcare premiums and have fewer than 25 full-time-equivalent employees who earn an average of $50,000 or less per year.

There is no law requiring small business owners to provide health insurance. The Affordable Care Act (ACA) makes substantial changes that small business owners should be informed of when offering group health insurance. Large employers with at least 50 full-time employees may face penalties if they do not offer coverage under the ACA. However, small businesses with fewer than 50 full-time-equivalent employees will not be penalized if they do not provide coverage. If you are qualified as a small business, you can apply for small business health insurance at any point throughout the year. When shopping for the best insurance plan, it is a good idea to talk with a broker. Your broker can show you coverage options from different insurance carriers in your area and answer your questions about your options. These services are available free of charge, and their business consulting can also save you money and time.

Federal law requires all plans to be sold to small businesses on a guaranteed issue basis. That means small businesses cannot be turned down by an insurance company based on the health status of the group. Small businesses might be ineligible to buy coverage for other reasons. For example, insurance companies might have minimum premium contribution or participation requirements. Generally, a small business is defined as a business with 2 to 50 full-time employees. This often means, at least one owner and one full-time equivalent employee, or common law employee. A common law employee is defined as someone who works for your business with at least 30 hours per week, and who is not your spouse.

If you sign up for Medicare Part A (Hospital Insurance) and Medicare Part B (Medical Insurance) during the first 3 months of your Initial Enrollment Period, your coverage starts the first day of the month you turn 65. If your birthday is on the first day of the month, your coverage starts the first day of the prior month.

Most people should enroll in Medicare Part A (Hospital Insurance) when they are first eligible, but certain people may choose to delay Medicare Part B (Medical Insurance). In most cases, it depends on the type of health coverage you may have. If you have Medical coverage from your employer, you may be able to delay Medicare Part A and B without having to pay a penalty if you enroll later.

Unlike individual health insurance plans, small business health insurance plans can be purchased at any time of the year as long as you qualify as a small business. You generally need to have at least one full-time employee on payroll in order to qualify for coverage. You will need to pay at least 50% of the monthly premiums for your employees. However, you are generally not required to contribute toward premiums for their dependents.

You have the following three options: 1. Original Medicare It includes Medicare Part A (Hospital Insurance) and Part B (Medical Insurance). If you want drug coverage, you can join a separate Medicare drug plan (Part D). However, this option is not recommended as Original Medicare covers about 80% of your overall healthcare cost with no out of pocket maximum. 2. Medicare Advantage Plans (Medicare Part C) Medicare Advantage plan is an all-in-one alternative to Original Medicare. These bundled plans include Part A, Part B, and usually Part D. Most plans are HMO plans and have $0 premium. They have lower out-of-pocket costs than Original Medicare and most plans offer extra benefits like vision, hearing and dental. 3. Medicare Supplement Plans (Medigap) Medicare Supplement plans help to fill gaps in Original Medicare and they are sold by private companies with a monthly premium ranging between $150 and $300. With this plan, you can go to any providers that accept. More freedom.

Heather, we are an independent Medicare agency, and our Medicare team can help your mother apply for her Medicare. There are a few ways to sign up for Medicare but during the pandemic, we recommend online thru Social Security's website. Have your mother come in with her ID and we will help her sign up for her Medicare online. Once she gets her Medicare card, we can also assist her with the right Medicare plan for her. Thank you.