It’s Open Enrollment Time for Small Business

7 Facts Business Owners Need to Know About Open Enrollment:

 Open enrollment deadline for small business

Q1: Must all of my employees have health insurance?

A: Yes. The requirement that Americans purchase health insurance or pay penalties began on Jan. 1, 2014. With limited exceptions, all Americans must maintain insurance or pay 1 percent of their income above the tax-filing threshold. In 2015, the penalty doubles to 2 percent of adjusted gross income.

Q2: Do I have to pay a fine if I don’t offer health insurance?

A: Businesses with:

  • < 50 full-time equivalent employees do not have to offer health insurance and will not pay a fine.
  • 50 to 99 full-time equivalent employees have until 2016 to start offering health insurance to 95% of their full-time employees or pay a fine; and must still carefully track employees’ hours and report information to the IRS beginning in 2015.
  • 100+ full-time equivalent employees must offer affordable health insurance to at least 70% of their full-time employees beginning in 2015 or pay a fine; increases to 95% in 2016. 

Employee healthcare options

Q3: What’s the best way to get employees insured?

A: Because each employer’s circumstance is different, owners should explore all options available—from providing group health plans to contributing defined dollar amounts to their employees monthly. The NFIB Health Insurance Exchange employs licensed exchange agents who are capable of helping NFIB members explore all of their options.

Q4: How can the NFIB Health Insurance Exchange help?

A: Through the NFIB Health Insurance Exchange, NFIB members have the ability to shop online or speak directly to licensed exchange agents. Agents can help members assess needs and shop for and enroll in health plans for themselves and their employees. Members have access to all the plans on the government exchanges (subsidized plans) plus plans off the government exchanges (non-subsidized plans). Many insurers will sell nearly identical health insurance products both on exchange and off exchange. 

Q5: Can my employees enroll in the NFIB Health Insurance Exchange and still receive a government subsidy?

A: Yes. If you, the employer, have lower-wage earners who qualify for a premium subsidy, the NFIB Health Insurance Exchange can calculate that subsidy for them and help them apply for coverage.

Q6: How long does it take to enroll one family?

A: A family of four can usually enroll in about 15 minutes with a licensed agent. 

NFIB Healthcare Exchange

Q7: What’s the average amount an NFIB member saves through the NFIB Health Exchange Exchange?

A: In 2013, the average individual who used the NFIB Health Insurance Exchange saved $3,263.*

For more information on NFIB’s Exchange, visit or call 866-673-3098.  

*Savings amount is based on what NFIB members were paying previously. Each member varies, and not all members will see savings.

Rocket Fuel



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