DC Exchange Requires Small Businesses to Offer Plans
The District of Columbia Health Benefits Exchange is one of the only places that requires small business owners to provide health insurance to its employees under the new Healthcare Exchange, beginning January 2014. Small businesses under Obamacare will offer “metal” plans known as the Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan.
Small Business ObamaCare
Under ObamaCare businesses with 50 or more employees are required to offer health insurance, however in DC businesses with less than 50 employees will be required to offer health coverage to their employees.
Small Business Owner Premiums for Employees DC
A small business in DC may offer its employees an HMO or PPO plan with the employer paying out $144 a month for an HMO plan for a 27 year old and up to $1,037 for a PPO plan for a 55 year old. These premiums have a wide range due not only to HMO/PPO choice but also on which metal plan is offered.
Small Business Owners Receive a Tax Cut
For employers with less than 25 employees the employer may receive up to a 50% tax credit.
When do business owners have to purchase by?
The Healthcare Exchange’s open enrollment begins Oct. 1 and will offer coverage beginning in January. Small business owners in DC will have a little more time to buy coverage though. They are given until 2015.
Further Questions:
For further questions about the metal plans in your state call 800-980-7956 or contact Medicoverage.
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