1st Time Offering Company Health Insurance – Small Business

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Hi, hoping someone on here can help. My insurance… guide? broker? has been exceptionally helpful, other than this lingering question.

As the title states, I’m a small business owner and will be offering company health insurance for the first time, with a planned effective date mid-Spring 2021. My business is in Missouri, we have 8 total employees including myself and a second owner. It hasn’t been made clear to me how we, as a business, can contribute to our employees premium. The agent I’ve been working with more or less said, write up the rules and follow them. Giving examples like: Employee Tenure 0-1 year $50 employer paid premium, Tenure 1.1-2 $75, etc. etc. He also said non-exempt $100, exempt $125 (all figures are factious but I hope you get the point)

Is that really how it works? We just come up with a system and allocate appropriately? There aren’t any guidelines ruling this?

submitted by /u/Usernamenotfound247
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Hi, hoping someone on here can help. My insurance… guide? broker? has been exceptionally helpful, other than this lingering question. As the title states, I’m a small business owner and will be offering company health insurance for the first time, with a planned effective date mid-Spring 2021. My business is in Missouri, we have 8 total employees including myself and a second owner. It hasn’t been made clear to me how we, as a business, can contribute to our employees premium. The agent I’ve been working with more or less said, write up the rules and follow them. Giving examples like: Employee Tenure 0-1 year $50 employer paid premium, Tenure 1.1-2 $75, etc. etc. He also said non-exempt $100, exempt $125 (all figures are factious but I hope you get the point) Is that really how it works? We just come up with a system and allocate appropriately? There aren’t any guidelines ruling this?
submitted by /u/Usernamenotfound247 [link] [comments]Read Morer/HealthInsurance

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