Group health benefits include various healthcare coverage options that enhance employees’ financial well-being. Key components are:  

• Medical Insurance: Covers doctor visits, hospital stays, and preventive care. 
• Prescription Drug Coverage: Helps pay for medications. 
• Dental Insurance: Covers routine check-ups, cleanings, and some procedures for dental care. 
• Vision Insurance: Covers eye exams, glasses, and contact lenses. 
• Mental Health Benefits: Provides access to counseling services and mental health treatment. 
• Wellness Programs: Initiatives to improve employee health, like gym memberships and wellness challenges. 
• Flexible Spending Accounts (FSAs) or Health Savings Accounts (HSAs): Pre-tax accounts for out-of-pocket health expenses. 

A 2023 Kaiser Family Foundation survey found that 99% of large employers and 89% of small employers offer health benefits, highlighting their importance in attracting and retaining talent. 
 
Kaiser Family Foundation Survey

Open enrollment is a designated period for employees to enroll in or change their health insurance plans. Key points to consider: 

• Timing: It typically occurs once a year. Specific dates may vary by employer, and it’s important to check with yours for details. 
• Changes: Employees can enroll in new plans, adjust existing coverage, or opt out entirely during this time. 
• Group Special Enrollment Periods: Employers are able to waive the contribution and participation requirement during this time frame, typically 11/15 to 12/15. 
• Qualifying Life Event: Outside the open enrollment period, employees may qualify for a special enrollment period due to life events such as marriage, divorce, or the birth of a child. 
• Plan Comparison: Employees should review and compare plan options based on coverage, costs, and benefits to select the best fit for their needs. 

HealthCare.gov
Open Enrollment Period 

Small business health insurance refers to coverage provided by small employers (typically with fewer than 50 full-time equivalent employees) for their staff. Key benefits include: 

• Affordable Coverage: Employers can offer access to comprehensive health benefits that individuals may struggle to afford. 
• Attraction and Retention: Health insurance helps attract and retain talented employees, creating a more loyal workforce. 
• Tax Benefits: Employers may qualify for ACA tax credits by providing coverage. 
• Improved Employee Health: Insurance access promotes preventive care and regular medical visits, leading to healthier employees and lower absenteeism. 

According to the Small Business Administration (SBA), approximately 59% of small businesses offer health insurance, highlighting its significance in the workplace. 
 
Small Business Health Insurance  

To qualify for small business health insurance under the Affordable Care Act (ACA), you generally need fewer than 50 full-time equivalent (FTE) employees. If you meet this requirement, you can purchase health insurance through the Small Business Health Options Program (SHOP), which is available for small businesses. If you have fewer than 25 FTE employees, you may also qualify for a tax credit by offering health insurance. 

For eligibility, you only need 2 full-time employees, and one of those can be the owner. These practices allow even very small businesses to access group coverage and potentially lower costs. 

If your small business has 50 or more FTE employees, you are classified as a large employer and must comply with the employer mandate, requiring you to offer health insurance or face a penalty.  

Healthcare.gov
Small Business Health Options Program (SHOP)