Health Care Reform: What Does it Mean for Your Small Business?

Many small business owners might be going in to panic mode as the new year gets closer. Sweeney & Sweeney Insurance wants you to know we are here to help you through this big transition. In this article we have outlined some key points that you as an owner need to start thinking about now. Below are some questions you can ask yourself to help you make the best choice for your business.

  • Do I have to offer coverage to my employees? If you have 50 or more
    full-time employees, you are required to offer affordable coverage to your
  • How many of my employees are considered full-time? According to the
    ACA regulations, full-time employees are 30 or more hours per week. If you are
    anywhere near 50 employees you need to be very clear who is considered a
    full-time or part-time equivalent. This can be a very confusing process, but
    Sweeney & Sweeney has trained professionals to help you walk through these
  • What coverage classification should I choose for my employees? The
    coverage’s will be tiered as, bronze, silver, gold, and platinum. Be sure to
    balance the best offerings with a plan your employees can afford (May not
    exceed 9.5% of the employee’s gross income).
  • Will I offer coverage for dependents? This is a tricky concept and
    you need to be extremely careful. Choose the best balance that your employee’s
    family can afford. If a dependent is offered affordable coverage through an
    employer they may NOT go to the individual exchange and receive a subsidy. If you
    decide to offer employee only coverage, then their dependents can go to the
    individual exchange to receive a subsidy. It is very important to balance what
    is best for your employees and we recommend speaking to a health care
    professional about this.
  • Should I handle these decisions on my own? It is highly recommended
    to choose an Agency who is Health Care Reform certified to walk you through these
    extremely important steps to insure your employees are getting the best deal
    and to avoid any penalties to your business. Sweeney & Sweeney Insurance is
    here to help. Give us a call for more information!

Health Care Reform: Health Insurance Plans at a Glance

What To Expect in 2014! 

Many of you are probably wondering what will change about your health insurance plans come January 2014. To get started, all Individual and Family Health Plans will disappear on January 1, 2014. If you have a Grand-Fathered plan that has been active and unchanged prior to March 23, 2010, then you are exempt from this requirement. The rest of us will be required to find a new plan that meets the required “Essential Health Benefits” law. Provided below is an image to show how the plans will be tiered.


You are now probably wondering what the plans must include
as “Essential Health Benefits”, as defined by the Health Care Reform.
Specifically, the plans must include these 10 categories of care:

  1. Ambulance Services
  2. Emergency Services
  3. Hospitalization
  4. Maternity and Newborn Care
  5. Mental Health, Substance Abuse, Behavioral Treatment
  6. Prescription Drugs
  7. Rehabilitative and Habilitative Services
  8. Laboratory Services
  9. Preventive and Wellness Services
  10. Pediatric

We are very excited to share with our community that
Sweeney & Sweeney will be offering health coverage inside and outside the
Exchange. Open Enrollment begins October 2013 and goes through March 2014.
Please be aware that this is the ONLY time you can obtain health coverage, and you must enroll by December 15, 2013 to have a January 1 start date for coverage. Call us for further information and stayed tuned for more to come! We still have appointments open for December!