Group Health Insurance for Denver and ALL of Colorado

Although group health insurance is an important part of your employee benefits package, committing to a particular carrier can be a major undertaking. The health of your employees – your most valuable asset – is impacted by the decisions you make. With the rising costs of healthcare, employers walk a fine line between cost containment and providing valuable benefits to attract and retain top talent. At our agency, Lightship Insurance in Denver, Colorado, insurance is what we do. Our brokers can assist you with your group insurance needs and help you optimize your health plan RFP.

Cost of Group Health Insurance

Once your application has been approved, the insurance company will assess your group based on criteria including the location of your business, the size of your company, and the age of your employees to arrive at a final rate. Since the Affordable Care Act was passed, employee health and pre-existing conditions no longer affect group health insurance rates.

Group Health Insurance Tax Advantages

Small business owners may be eligible for tax credits up to 50% of employer contributions to employee health insurance premiums. Under the Affordable Care Act, businesses with fewer than 50 full-time employees are not required to provide group health benefits and will not face any tax consequences if they do not offer these benefits. However, companies that employ 25 or fewer employees who earn an average annual wage under $50,000 are eligible for special tax credits, provided the employer contributes a minimum of 50% of employee insurance premiums.

As of 2016, under the Act, employers with 50 or more full-time employees are required to provide affordable health insurance to employees or pay a tax penalty. Our agent at Lightship Insurance can help you select the right group health insurance plan with an eye to the bottom line.