Group Health Plan Requirements
- Group Health Plans are for the full-time (FT) employees of a single business.
- Full-Time (FT) is defined as regularly working at least 30 hours/week. The employer has the option to change the definition of FT to 20 hours/week in order to make more employees eligible.
- A minimum of two employees (owners included) must enroll in the medical coverage.
- A husband and wife count as one employee, there must be at least one other FT employee enrolling.
- The plan must be offered to all FT employees. Eligible employees may decline the medical plan by signing a waiver acknowledging that it was offered to them – as long as a minimum of two employees (including owners) enroll in the medical coverage.
- The employer must pay a minimum of 50% of each employee’s premium – not dependents. The employer’s 50% portion usually ranges between $200 – $400 per employee per month. Many employers pay more than 50% to ensure that an employee enrolls. Employee’s total cost depends on the medical plan chosen by the employer; usual range is $400 – $800/month based on each employee’s age.
We suggest starting with a complimentary phone conversation to confirm that the Group Requirements can be met before engaging our Group Advisory Service.