Maybe! A business can establish a small group health plan so long as they have:
at least two households in the group
that are either W2s or owners.
Owners don't have to be W2s, and they don't need to be listed on a DE9C, the quarterly payroll tax report (but owners may need to provide proof of ownership).
So, that means that a business with no employees but at least two owners (who aren’t married to one another) would be eligible for a small group plan. - YES.
Or, a business with only one owner and at least one W2 employee would also qualify. The W2 employee does not have to actually elect to enroll and does not have to be full-time. - YES.
But a business with only one owner and no W2 employees would not qualify (and 1099 independent contractors aren’t eligible). - NO.
In general, married couples constitute only 1 household, so most insurance companies will not consider a married couple with no other employees and no other owners as a group. However, there may be a narrow exception with some insurance companies, who may consider an LLC or Corporation where the spouse is not an owner but is a W2 employee. - MAYBE, SPECIFIC CIRCUMSTANCES AND LIMITED PLAN OPTIONS.
There's a lot more to consider, including:
Are small business plans cheaper than individual ("IFP") plans?
What are the pros & cons of a group plan or offering Employee Benefits?
How much will it cost to offer benefits to my employees?
What compliance issues will I need to be aware of if we set up group benefits?
Can we write off the premiums on our taxes?
.... and on and on and on
You'll need help with this, please schedule a phone meeting on our calendar links below.
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