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The Affordable Care Act requires employers with 50 or more full-time equivalents to provide health insurance for workers, or pay a significant penalty.
However, if you have fewer than 50 FTEs on the payroll, you are exempt from that requirement. You do not have to offer a traditional health insurance plan at all.
That opens a number of more affordable, cost-effective solutions that are possible for small employers that aren’t available to large employers unless they’re willing to eat the ACA penalty.
Health sharing plans are quickly becoming a popular, cost-effective non-insurance alternative to overpriced employer group health insurance plans.
These plans typically cost up to 50% less than traditional health insurance.
They also usually offer much more freedom to members to choose their own healthcare providers.
