How does a small business employer help an employee who receives subsidized Obamacare coverage but still struggles to afford the cost of out-of-pocket costs including the large deductibles?
The easiest way is to set up an employer-sponsored supplemental insurance coverage. This option is increasingly popular because it is exempt from most types of tax regulations associated with the Affordable Care Act. As a result, employer can set it up almost any way they choose. A popular product is Core Health Insurance that is available in about 42 states.
Other options include Health Savings Account, a Health Reimbursement Arrangement or even an employer paid Individual Retirement Account that can be used for health care expenses. Each of these is available without charge through Freedom Benefits. Each option has its advantages and disadvantages so individual consideration is necessary to find the best fit for your situation.
The overall goal is to provide tax-free financial help for an employee to get through this current national health care crisis. I am pleased discuss the options that fits your situation.