A&B Insurance and Financial Educates Small Businesses on the Affordable Care Act and Utilizing Health Care Allowances

Changes in Health Care Reform in 2014 will offer flexibility for both employers and employees through Health Care Allowance.

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'A little education can save you a lot of money.' - Mark Carbillano, Director of Sales, A & B Insurance and Financial

Tampa, FL (PRWEB) February 25, 2014

A & B Insurance and Financial announces that small businesses will begin to switch to a brand new healthcare solution to offer pure, defined contribution health benefits to their employees over the next few years. This is in response to continually skyrocketing healthcare premiums. Monthly premiums can now be completely controlled by the business. In fact, some businesses have already begun to shift over. The concept of a Health Care Allowance allows small businesses of 50 full time employees or less to cancel their current group insurance plan, and define a specific amount they can afford to pay employees for health benefits. In turn, employees can use their allowance to purchase their own individual or family health insurance plans.

The Health Care Allowance program offers a balance of control of health benefits between employers and employees. The cost of healthcare for small businesses has become unsustainable. Today only 61% of small group size employers with 3 to 199 employees provide health insurance, which is down from 68% in 2000. This new approach to employee health benefits eliminates the cost and complication of group health insurance, and for the first time ever, employees will be able to choose the plan that best meets their needs. By establishing eligibility criteria based on hours worked, a waiting period, etc., employers can keep the amount of the allowance affordable as well.

With this new system, employers will also be able to give their employees all of the advantages of Healthcare Reform and the ACA. With Health Care Reform in 2014 and 2015 this type of plan is the only option that gives employees access to all the benefits of the Affordable Care Act. By cancelling current employer group plans, employees are able to comply with the mandate individually and qualify for a subsidy to gain access to the Marketplace. This is important because individual employees will qualify for some type of government subsidy if they make less than $45,900 a year or if they are a family making less than $94,200 a year.

With the Health Care Allowance program, employers won’t have to worry about the moral obligation of providing expensive health coverage to their employees. Everyone will qualify for an individual or family plan under new healthcare reform legislation and employers will be able to allow employees access to massive government subsidies, more choice, and increased benefits while still controlling health insurance costs for their business. Furthermore, when an employee leaves a job, their plan would be completely portable; this means no more COBRA concerns. This revolutionary new healthcare solution will benefit both employers and employees with increased flexibility and the opportunity to receive the best healthcare plan for their needs.

About A&B Insurance and Financial:
A&B Insurance is a leading provider of affordable Health Insurance and Small Group Health Insurance for individuals, families, and businesses in Florida. We also offer coverage for dental, life, accident, cancer protection, income replacement, short term temporary plans, and overseas travel coverage. For more information, visit us at http://www.ab-financialgroup.com.


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