The cost of health insurance can be expensive, but employer contributions can help spread the cost between employees and employers, so it’s more affordable for both parties.
If an employer chooses to contribute towards health insurance premiums. The employer will select a plan and determine the amount they will cover, and employees are responsible for the plan’s remaining costs. However, some health insurance carriers require employees to cover at least 50% of the premium.
Due to Affordable Care Act (ACA) requirements, employers should cover at least 50% of their employee’s premiums to meet affordability requirements. HRs are responsible for ensuring that the proper premium amounts are deducted from their employee’s paychecks and responsible for the full monthly premium amount, and carriers will prepare a list bill each month.
Experienced brokers like our team here at Cosmo Insurance Agency will walk you through the process of getting insurance for your business.
Cosmo Insurance Agency is a full-service independent insurance agency based in Hackensack (Bergen County) and Lakewood (Ocean County), New Jersey that offers an all-encompassing range of insurance options for both individuals and businesses. Cosmo keeps its promise to assure an efficient and creative approach to the services we offer. Each of our clients experience a personalized and long-term relationship with us. Our New Jersey based team of health brokers guides our clients in helping them choose the most cost-effective options. By incorporating our knowledge of the insurance guidelines for healthcare, employee benefits, life insurance, self-insurance, dental, disability, and long term care insurance, we keep our clients up-to-date with affordable plans that cover all their specific insurance needs.
