Setting Up Group Plans

[ABC]

I do not think you will be able to stay grandfathered. So that brings up a gang a problem with having different classes.

It sounds like you are after prevailing wage jobs bring up other issues in labor. I do not think Individual policies would qualify on a prevailing wage.

Your best option is to use labor firm. That way you shave down your employee base into a insurable number and still bid on prevailing wage jobs. I would think that would be one affordable option.

Come 2014 if you do not insure your employees you could be looking at fines in the ball park of $1 million.

 

[somarco]

fines in the ball park of $1 million

True, but cheaper than buying health insurance on 600 employees.

 

[MDO]

I do not think you will be able to stay grandfathered. So that brings up a gang a problem with having different classes.

It sounds like you are after prevailing wage jobs bring up other issues in labor. I do not think Individual policies would qualify on a prevailing wage.

Your best option is to use labor firm. That way you shave down your employee base into a insurable number and still bid on prevailing wage jobs. I would think that would be one affordable option.

Come 2014 if you do not insure your employees you could be looking at fines in the ball park of $1 million.

In the security industry due to licensing I would have to create the labor firm but it is an option. I was under the impression that the fine was $750 annually per uninsured employee. Is this correct?

Why would our current plan loose its grandfathered status by purchasing additional plans based on a specific class with no HCE's enrolled?

Thanks again,

MDO

 

[ABC]

It's a $2,000 per employee fine for not providing health insurance. There are also other rules about house hold income vs premium cost that you would have to be a ware of.

Staying grandfather would be very difficult with a fully insured plan. Right now most carriers are not going to admin them both they are just going to move all fully insured biz to a non grandfather status.

Are you working with a broker?