Marketplace Assistance Services
With the Affordable Care Act (ACA) now upon us, business owners have much more health plan options than before. You can now go on-line and shop for health plans. With a new way of shopping and many different options available to you, things can get overwhelming. Let KIAA help you and your business.
KIAA has trained staff available to help you, your company, and its employees navigate the Hawaii Health Connector, Hawaii's online health insurance marketplace.
What Employers Need To Know
The Hawaii Health Connector is a place where small business owners can go to seek coverage for their employees. While on the Connector Small Business Employers will be able to:
- Compare insurance plans
- Determine Eligibility for tax credits
- Determine affordability of plans for employees
- Purchase health insurance plans
- Simplify employee insurance plans into one single monthly bill for efficient processing
- Consolidate multiple plan transactions into one single monthly payment.
Small Business Eligibility
In order to take advantage of the Hawaii Health Connector and the tax credits, Small Businesses must meet the following eligibility requirements:
To purchase health insurance through the Connector:
- Have no more than 50 Full-Time Equivalent employees
To be eligible for the Small Business Tax Credit:
- Have no more than 25 Full-Time Equivalent employees
- Have annual average wages of less than $50,000
Eligible companies may qualify for a tax credit of up to 50% health premiums. Some restrictions apply. In order to receive the tax credit, companies must meet the eligibility requirements and purchase their health plan(s) through the Hawaii Health Connector's Small Business Health Options Program (SHOP).
Click here to see if you're eligible.
If you are a Sole Proprietor, it will be advantageous for you to seek coverage in the Individuals and Families Marketplace. In this market, you may qualify for the Advanced Premium Tax Credit.
Deadline to apply for coverage through the Individual & Families Marketplace is March 31, 2014. Plans must be effective by April 1, 2014 to avoid tax penalty.
Click here for more information.
Hawaii Health Connector