New Jersey residents "Not" offered group health insurance through work save even more with state subsidies in addition to improved Federal subsidies. Many bronze-level individual plans have zero premiums. Family premiums can be less than single plans. Families are also given more choice, with each family member able to pick a different network or plan design. The Affordable Care Act income cliff has been removed, and all eligible households never pay more than 8.5% of their household income, and most pay far less. Everyone in NJ needs to learn their cost at https://enroll.getcovered.nj.gov/hix/preeligibility#/ and notify their employer. Similar to the Advance Premium Tax Credit (APTC), New Jersey residents will qualify for new savings based on income. Households with annual incomes up to 600% of the FPL will receive the new and expanded NJHPS. An individual with an income of up to $76,560 and a family of four who makes up to $157,200 can receive state subsidies to lower health coverage costs. Anyone who qualifies will be able to see a lower premium when using our plan comparison tool or after filling out an application. If your employer offers you group health, ask them to learn the detail as they would better serve your interests to cancel the group health and compensate you with better benefits and services. According to the Kaiser Foundation, Independent study in 2019, employers pay 82% of an average $7,188 single premium and 70% of a $20,576 family premium. With these new subsidies, an entire family's health insurance can be less than the 18% an employer asks employees to pay. Most single employees would rather pay $51 a month versus $100 at work, especially if their employer used the employer's premium savings to give more benefits. Small employers should establish a competitive edge against the competition, utilizing open enrollment during the summer to educate employees on the change and implement new benefits and services. Don't waste thousands in savings waiting for your group renewal or look to change when so many others renew year-end. Your employees are learning the truth as GetCoveredNJ bombards residents on the news. Be the first to take off your mask with the law in place and the government's permission to proceed. Employers can take the average $6,000 in employer-paid premium savings and give every employee a defined contribution to purchase benefits and services they want. Don't follow the pack and wait for others to take the lead. Tell your employer to act now as waiting for everyone to take off their mask and following the pack can cost you thousands.

If you learned, you could pay $500 or $100 for your employee's same health insurance plan. What would you do? Would you give me 15 minutes? Communicating with employers in the post-COVID-19 economy is difficult as remote workers use phone mail and emails as the first line of communication. Employees tell your employers. Owners call now. Many employers paying for small group health insurance are doing their employees a disservice. However, they are stuck believing there is no better way or don't have the facts. Employee compensation comes in many forms, and with proper education, your employees will cherish the change. While the government pays 75% of any family's health insurance premiums not offered group health insurance, your company paying for group health insurance is obsolete. Our program is not a trick, but individuals not offered group health insurance get this deal, and we are exploiting it. Don't fight the Fed. Use the premiums savings to compensate employees for other valuable benefits and services. Consider paying your employees differently. They will not disapprove if you give them the money you currently contribute for their group health insurance. Employees will appreciate the change with proper education, especially if you use our system to legally take the money from their pay and automatically pay their insurance premiums each month. We have a seamless system to transition employees from group health to individual subsidized health insurance. Your company can take credit for giving a defined contribution to employees to pay out-of-pocket medical and dental costs, pay off student loans, child care cost, or save funds in a Health Savings Account. To utilize these savings, small employers must give up the offer of health insurance, with the compliance obligations on participation, contributions, and continuation. Compensation comes in many forms but raising pay to cover subsided individual plans is not allowed under the Affordable Care Act. However, using a defined contribution for employees to purchase other benefits and services is legal. As a brokerage firm, we can work one-on-one with your employees to enroll families with any carrier in any individual plans. At the same time, our firm can use our traditional group product education and a paperless enrollment system to accumulate employee demographics and educate and enroll employees on any number of benefits and services 24/7 using their smartphones. A February study shows over 60% of small groups replaced their broker last year for brokers that identified ways to drive down costs and offer better service. Offering non-traditional benefits and increasing productivity by handing over the reins to our technology platform can help your company achieve greater efficiency and allow your company to merge data with payroll and HR administration. The Post-COVID-19 economy has changed for good. The new administration wants socialized insurance and will pay to get it. Don't try to compete with the Fed but take advantage of the savings. Use our service to simplify the transition while expanding your employee's financial and wellness protection. Productivity will excel, and recruitment and retention will increase.

The American Rescue Bill was signed into law on March 11, 2021, vastly changing individual health coverage subsidies. The new subsidies are fully funded for two years, but we feel this new entitlement will be continued at least while President Biden is in office. He ran on fixing Obamacare, and this is the first step. Planned or not, the savings are so significant that employers should consider canceling their group health plans and compensating their employees with the premium saving. An employer can eliminate complying with COBRA, and Family leaves laws. Employees would have a wider choice on plan design, dependents would not be cut out from subsidies, and employers would not have to comply with minimum premium contributions or participation requirements. The list of enhanced supplements and tax savings vehicles is broad and just another form of compensation. Some employees would benefit from first dollar benefits funding into a flexible spending account or health savings account. Others may want an accident, dental, disability, cancer, critical illness, life, long-term care, and vision insurance. Students may wish to pay off their student loans or want more reimbursements for remote offices, including cell phone and internet costs. All of these benefits can be offered on an employer or employee-paid basis. We have a system to educate workers and transition them to individual plans. Our program allows an employer to offer an online platform offering a complete package of customized services and supplemental plans. Studies show that employees desire benefits second to compensation. A more comprehensive choice of services gives small employers the upper hand when recruiting new help and retaining valued workers. Don't try to complete with Federal subsidies and use the savings to provide more first dollar benefits to your employees. Entitlement programs may change but generally never disappear.