Group Health Benefits Guide for Your Georgia Small Business

Georgia small businesses face unique challenges when it comes to providing employee benefits, including group health insurance. Besides the 10 minimum essential coverages required under the Affordable Care Act, there are additional Georgia state mandated benefits that must be provided:

• TMJ disorder treatment

• Autism spectrum disorders

• Diabetes care management

• Clinical cancer trials

• Bone marrow transplant

• Off-label prescription drug use, when used to treat life-threatening illnesses

Offering health insurance can have numerous benefits for your small business such as:

• Attracting and retaining top talent

• Improving employee health and well-being

• Boosting employee productivity and job satisfaction

• Demonstrating that you value your employees’ financial stability

• Helping to protect your business from potential legal issues

Fun fact: In 2023, about 879,084 Georgia residents signed up for health insurance under the Affordable Care Act, that’s over 170,000 more people, as compared to 2022. On May 2, 2023 Georgia Governor Brian Kemp signed multiple bills, including SB 65. This new law will allow Georgia to run its own marketplace for individual health insurance under the Georgia Access website. 

Choosing the right group health benefits for your Georgia small business

In order for your small business to attract and retain top talent, you may need to get creative with your benefits offerings. For example, if your company has a significant number of employees with young families, you may want to consider offering childcare benefits and/or flexible work schedules.

When choosing a health plan for your small business, there are several factors to consider, such as:

• The size of your business

• The number of employees

• Your budget for health benefits

• The level of coverage you want to provide

• The network of health care providers included in your plan

You may want to professional guidance, such as consulting with insurance brokers, financial advisors, or benefits consultants. This can help your small businesses make informed decisions based on your unique needs and budget.

Implementing group health benefits for your  Georgia small business

• Understanding enrollment and eligibility requirements involves knowing the enrolllment process. This includes things like deadlines, waiting periods and qualifying events for employees to join the group health benefits plans.

• Communicating health benefits to employees requires providing clear and comprehensive information about plan details, coverage options and costs through employee handbooks, meetings and online resources.

• Managing employee contributions and payroll deductions involves setting up payroll systems to accurately deduct and remit employee contributions, as well as monitoring and addressing any changes or discrepancies in deductions.

• Monitoring and evaluating the effectiveness of your group health benefits plan requires reviewing utilization data, employee feedback and cost trends to assess the plan’s performance. You’ll also need to make adjustments, when necessary, to make sure it meets the needs of your employees and business.

Navigating legal requirements and compliance 

Understanding Georgia state laws on group health benefits involves familiarizing yourself with regulations related to plan eligibility, coverage requirements and notifications to employees. 

Complying with federal laws, such as the Affordable Care Act (ACA), requires understanding and adhering to provisions such as offering essential health benefits, providing coverage for preventive care and complying with reporting requirements.

Small businesses throughout Georgia may also be subject to specific legal requirements, such as the Georgia Health Insurance Continuation Law. This law gives employees of businesses with between two and 19 employees up to three months of continuing health care coverage after losing employment.  

FAQ

Q: What are the advantages of offering group health benefits to my employees?

A: Offering group health benefits can help you attract and retain top talent, take advantage of tax credits and deductions, improve employee health, enhance productivity and boost employee morale.

Q: What types of group health benefits plans are available to small businesses in Georgia?

A: There are several types of group health benefits plans available including HMOs, PPOs, POS plans, EPOs and HDHPs.

Q: How do I choose the right group health benefits plan for my small business?

A: When choosing a group health benefits plan, it’s important to consider several factors, including cost, network size, coverage, deductible and co-payments along with input from your employees.

Q: Can small businesses take advantage of tax benefits for offering group health benefits?

A: Yes, small businesses can often take advantage of tax credits and deductions for offering group health benefits to their employees.

To qualify for the Small Business Health Care Tax Credit you must meet the following conditions:

• Have fewer than 25 full-time employees

• Average employee salary is $56,000 or less

• You pay 50% or more of full-time employees’ premium costs

• You offer coverage to all your full-time employees

Q: How can I make sure that my employees have access to the health care they need?

A: To ensure your employees have access to the health care they need, consider a  through Allstate Benefits. We suggest you choose a plan with a large network that offers wellness programs and resources that encourage your team to take advantage of preventive care services.

Offering group health benefits to your employees can be a great investment in your small business. It can help you attract and retain top talent, improve employee health and well-being and demonstrate that you value your employees. By following the steps outlined in this guide, you can choose the right plan for your small business and set up group health benefits with ease. Get your free and fast quote for a health benefit plan for your Georgia small business today.