With all the new health care plans and changes, it can be difficult to make sure you’re offering the right health insurance policies for your employees. If you own a small business, the new grandmothering bill can help to give you the extra time needed to ensure that you’re offering the right policies.
If your small business has less than 100 employees, and you’re already offering a group health plan, the grandmothering bill allows you to keep the plan until the end of the next year. Grandmothering is replacing grandfathering as an extension that was granted by the Obama Administration. However, there are some restrictions on plans that qualify for the bill. In order to qualify for grandmothering, group health insurance plans must have been in effect prior to March 2010, and there must be no significant changes that were made to the plan or what was contributed to the plan.
The grandmothering bill was passed to help small businesses ease into the new health care reforms to ensure that they’re not financially devastated due to the changes. It also gives them the chance to make sure that the health care plans they’re offering comply with all of the rules and regulations of the Affordable Care Act, or ACA.
Contact Pacific Group for more information about the new grandmothering bill and how it will affect your small business. With locations in both Laguna Hills and Palos Verdes Estates, we can help your small business with all of your health care needs. We will work closely with you to ensure that you’re able to offer the most comprehensive health insurance plans to your employees that meet the ACA rules and regulations.