Employer Health Insurance Contribution Requirements

How much do I have to contribute to my employees' healthcare?

In this video, we’ll take a closer look at employer contribution requirements and why they were created in the first place, as well as explore how HRAs can help small businesses and medium-sized businesses offer quality health benefits on a budget.

With all of the regulations and restrictions surrounding group health insurance plans, it can be frustrating for small and midsize business owners (SMBs) to find a plan that works for their employees.

One of the most difficult requirements for SMBs to meet is the minimum contribution requirement that mandates how much employers must contribute to their employees’ group health insurance premium costs.

With group health insurance premiums becoming more expensive each year, employers are required to contribute increasingly higher amounts to meet their plan’s minimum contribution requirement.

While most employers want to help their employees with their healthcare, SMBs with tighter budgets may not have the kind of money to fully contribute to a group health insurance plan. Luckily, there are other ways for SMBs to take care of their employees’ healthcare without breaking the bank, like health reimbursement arrangements (HRAs).

While meeting the minimum contribution requirements that come with traditional group health insurance plans can be a challenge for small and midsize business owners, HRAs come with no such restrictions. If you’re interested in offering a formal, flexible, and cost-controlled health benefit, an HRA is an excellent choice for both you and your employees.

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