Small Business Health Insurance Nevada

Small Business Health Insurance Nevada – The Affordable Act affected many businesses in Nevada in many ways. The Department recommends that each company’s management consult its own legal and professional advisors, as the Insurance Department can only provide a general overview of the requirements. Our goal is to provide a framework that will allow the company to develop a basic understanding of these changes and thus ask the right questions of its various advisors.

The US Department of Labor and the IRS provide detailed and up-to-date resources to use when making health insurance decisions as a small or large employer. The Department of Labor has a complete list of helpful links, and the IRS provides questions and answers for employers under the Affordable Care Act. The following links should be bookmarked or returned here as you consider the implications for your organization.

Small Business Health Insurance Nevada

If you have 50 or more full-time or full-time equivalent employees and you do not provide minimum affordable basic insurance to your full-time employees (and dependents), you will be required to pay tax to the IRS.

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The law expressly excludes from this assessment all companies employing fewer than 50 full-time employees or full-time employees.

For employers with 50 or more full-time or full-time employees who do not offer minimum affordable basic coverage, the grade will be calculated in one of three ways:

For the sake of your headcount, your full-time employees and number of full-time equivalents are used. It includes:

To calculate the annual average, add the monthly totals of full-time and full-time employees for the last calendar year and divide the total by 12. Round to the nearest whole number.

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Note that this calculation takes into account all employees employed by the same person, entity or group. For example, a person who owns two unrelated businesses, each with 40 full-time employees and their counterparts, may be considered a large employer with 80 employees. If you have questions about your situation or are using an employment or temporary rental company, consult an attorney.

To qualify as minimum basic insurance, the plan must be an employer-sponsored plan, defined as, with respect to the employee, a group health plan (including comprehensive and self-insured plans) or a health insurance plan group offered by the employer to the employee that is (1) any health benefit plan offered in a small or large group market in Nevada; or (2) a health plan grandfathered under the Affordable Care Act that is offered in the group marketplace.

The minimum value is defined by the US Department of Health and Human Services as coverage of at least 60 percent of the total allowable cost of benefits provided under the plan—it is a measure of benefit, not a measure of contribution.

A minimum value calculator will be made available to employers by the IRS and the Department of Health and Human Services. Employers can enter certain plan information, such as deductibles and copayments, into the calculator and get a determination that the plan offers a minimum value. If the plan covers at least 60 percent of the total estimated eligible cost, the plan will meet the “minimum value” test.

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If an employee’s contribution to an employer’s insurance premium would cost the employee more than 9.5 percent of that employee’s modified annual gross earnings, then coverage is considered “unavailable” to that employee. If you offer multiple health insurance options, the Affordability Test is for the cheapest option available to the employee that also meets the minimum value requirement.

Since employers generally do not know the household income of their employees, employers can use one of the “safe havens” defined by federal law. Under Safe Harbor, an employer can avoid paying if the cost of an employee’s insurance does not exceed 9.5 percent of the wages the employer pays the employee that year, as listed in box 1 of Form W-2, or if the coverage meets a from two other secure ports based on design.

For more information on safe harbors, see Federal Register, Vol. 78 n. 1 on p. 218 (Jan. 2, 2013) at

To qualify, you must have at least 50 full-time employees or a combination of full-time and part-time employees equivalent to at least 50.

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For example, 40 full-time employees working an average of at least 30 hours per week plus 20 part-time employees working an average of 15 hours per week would be equivalent to 50 full-time employees. As an employer, you must determine each year, based on the actual number of employees, whether you will be required to pay an assessment.

For example, if you employed 50 or more full-time employees (including full-time equivalents) in the previous calendar year, you will have to pay an assessment.

If you have seasonal workers, you should average the number of employees over the months of the year to see if you have 50 or more employees. The average may take into account fluctuations during the year. If you are close to 50 full-time employees (including equivalents) and want to know what to do in 2015, a special transition assistance scheme has been proposed. The IRS policy provides additional information on determining the average number of employees for a year, information on how to count salaried workers who may not count hours worked, and additional information about seasonal workers. Additional information is available at: or – counselors.

Employers will not have to pay an assessment if two conditions are met: The employer employs an average of 50 or more full-time employees (including equivalents) for 120 days or less, and the employees bringing the employer over the 50 employee threshold are employees seasonal. If these two conditions are met, the employer is not subject to the assessments that would apply in the event of non-insurance for full-time employees.

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There is no provision for a cash payment to an employee to avoid assessment. Under Internal Revenue Code section 4980H, an employer with 50 or more employees may be assessed whether any full-time employees are eligible for a premium advance tax credit or a cost-share reduction. Generally, this may be the case when: (1) an employer does not offer its full-time employees (and their dependents) the opportunity to enroll in the minimum necessary coverage under a qualifying employer-sponsored plan; or (2) the employer offers its full-time employees (and their dependents) the opportunity to enroll in a minimum basic insurance under an employer-sponsored plan that is either not available in relation to the family income of employees or does not provide a minimum value.

Health care reform affects small employers and large employers differently. So it’s important to know how your business will rank when considering how it will affect you.

An employer with one to 50 full-time or part-time employees is considered a small employer.

Since 2014, the assessment by health insurers for individuals and small businesses has changed. They can only use age, family composition, geographic area and smoking as assessment factors. Nevada has also expanded its overview of health insurance rates. Nevada is currently reviewing all health insurance rate changes in the individual and small group insurance markets.

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The law also requires insurance companies to cover most of your health care contributions. This means that insurers selling policies to individuals or small groups must spend at least 80 percent of their premiums on direct medical care and efforts to improve the quality of care or offer a premium discount to customers of theirs.

The Nevada Department of Insurance is committed to consumer protection and transparency regarding health insurance costs, read more about Nevada health insurance rates here.

Buying insurance for your business can be confusing. As you navigate the Affordable Act and the challenges and opportunities it has created in the health insurance market, remember that the Nevada Department of Insurance is here to help.

If you still have questions after reading this guide and speaking with an agent, broker or insurance company, contact the Nevada Division of Insurance in Northern Nevada at (775) 687-0700 or from Southern Nevada at (702) 486-4009. The department can also be reached from rural Nevada by calling (888) 872-3234.

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Remember to always check with the Nevada Division of Insurance to see if the person or company you are working with is licensed, certified or authorized to do business in that state. This opinion column was contributed by Matt Morning, founder and director of photography at Kimera Collective, a full-service production agency in Reno.

Excitement, fear, hope, fear – these are all the emotions you feel when starting a small business. At least that’s how I felt when I started mine, and I’ll be the first to admit that the last thing I thought about when I started Kimera, my film production company in Reno, was health insurance benefits.

I was what the insurance industry calls me

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