HOW LONG DOES IT TAKE TO GET MY EMPLOYEES ID CARDS?
We pride ourselves on the speed with which we can turn around a new enrollment opportunity. Cards are often received within a week of enrollment.
CAN I REACH A PERSON?
We’re here to help in our offices in San Diego, CA. Call us 7 AM – 5 PM PST and you’ll get one of our dedicated friendly staff ready to help answer any questions you may have. (888) 505-7724
WHAT IS MEC?
MEC stands for Minimum Essential Coverage and it satisfies the ACA’s mandate. Our blog details more about what MEC is and what it covers.
WHAT ARE THESE HEALTH COVERAGE “MANDATES”?
Employers must offer at least Minimum Essential Coverage (MEC) to any benefit-eligible employee. Non-compliance will generally result in a penalty of $2,500.00 PER eligible employee.
Employers must offer a minimum value plan that meets 60% actuarial value including hospitalization services. The MV plan must be offered at a maximum contribution of 9.86% of the employee’s income – YOU pay the difference. Ex: CA Minimum Wage Employee – A $10.00/hour employee working a minimum of 30 hours per week has a maximum employee contribution of $128.18 per month.
If the plan cost is $300 – YOU pay the difference of $171.82 per month. Non-Compliance will generally result in a $3,750.00 penalty PER employee who enrolls in coverage through the state exchange AND receives a premium subsidy.
For more on Penalty A & B compliance check out our blog.
The Individual Mandate
The individual mandate will be going away starting January 1st, 2019 for the majority of Americans. Those individuals living in the District of Columbia, Massachusetts, or New Jersey will still continue to be penalized for the individual mandate. To learn more about the penalty, please ask your SBMA representative.
HOW AFFORDABLE IS SBMA’S COVERAGE, REALLY?
Coverage is less than $100/mo for many of our offerings. This makes healthcare accessible to lower-wage earners as well as those who choose not to invest in traditional major medical. For a full breakdown, check out our calculator to compare the cost of ACA penalties vs. MEC compliant plans.