On December 13, 2016, President Obama signed the 21st Century Cures Act into law. While the act covers mainly medical research and innovations, it also includes a provision for Qualified Small Employer Health Reimbursement Accounts, also known as a QSEHRA.
What is a QSEHRA?
A QSEHRA is available to employers for plan years beginning after December 31, 2016 and can be a great option for employers who have less than 50 full-time employees and do not currently offer group health benefits. The QSEHRA is established to reimburse employees for their individual health insurance premiums and eligible unreimbursed medical expenses. Premiums paid to purchase other group health coverage (e.g. through a spouse’s employer sponsored plan) are NOT eligible for reimbursement through the QSEHRA. QSEHRA eligibility requirements must be the same for all eligible employees although the HRA benefits can vary based on the age and family-size of the employee.
QSEHRA Rules and Regulations
Questions about setting up a QSEHRA? Call Benefits Network at 724 940 9400 (Wexford Office) or 814 445 4943 (Somerset Office)
Most employers are not able or willing to offer insurance coverage to their part-time, seasonal and temporary employees. However, they also understand the importance of having health insurance especially now that employees can incur significant fines for not having coverage.
Benefits Network’s Your Health Insurance Shop can help. Our Individual and Senior Product Specialists can help your employees who are otherwise ineligible for group coverage. Our team will:
And the best part – there is never a fee for our help! A Your Health Insurance Shop representative can conduct an enrollment fair onsite at your place of work or schedule appointments with individuals at their convenience.
Contact your Benefits Network Consultant today about providing this service to your part-time, seasonal and temporary employees free of charge to you and your team.