On June 25th, the Supreme Court upheld a significant provision of Obamacare. The Supreme Court confirmed that health insurance tax subsidies will continue to be available in both the state and federally-run Health Insurance Marketplaces.
What was the case all about and why does it matter to small businesses?
Recently, we wrote an article featured on Synnovatia.com that helps small business owners understand the Supreme Court ruling, King v Burwell. Below are highlights from the recent Zane Benefits feature on Synnovatia.com.
Article Highlights - A Quick Guide to the Supreme Court Ruling on Subsidies
As discussed in the article, small business owners should understand these three facts about how the Supreme Court decision impacts owners, small businesses, and employees.
1. Supreme Court Says Health Insurance Subsidies Stay
On June 25th, the Supreme Court ruled 6-3 in favor of Burwell. The ruling confirms subsidies will continue to be available through the Health Insurance Marketplaces in all 50 states and D.C.
2. Health Insurance Subsidies Provide Significant Savings
In 2014, 87 percent of people who shopped on healthcare.gov were eligible for discounts, paying an average of only $82 a month for health insurance. Most small business employees will pay less for individual coverage than they would for similar insurance coverage through work.
3. Small Businesses Shifting To Individual Health Insurance
Savvy small business owners are pairing individual health insurance with a reimbursement plan. This alternative model of health benefits is sometimes called "defined contribution” health benefits.
To read the full article on Synnovatia, click here.
Synnovatia is a website that helps entrepreneurs and small business owners reach their full potential. Synnovatia’s forte is creating innovative strategies that help small businesses outperform each and every year. The Synnovatia.com feature titled, "A 2-Minute Guide to the ObamaCare Supreme Court Ruling" helps small business executives understand health reform.
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