Skip to content

Songer Benefits, Inc. Blog

All You Ever Wanted to Know About Insurance

Small Business Health Insurance Compliance

Contrary to what many believe, small businesses do have requirements when it comes to their small business. When speaking to other benefits specialists, I often hear small groups don't have to comply. I don't know if it's a lack of knowledge and education, but nothing could be further from the truth. Small businesses must comply with Sections 125, ERISA, COBRA, HIPPA, and many parts of the ACA and other regulations. 

I recently met a small business owner who owned a computer rebuilding franchise. Even though they were small, they had many part-time employees that pushed them into an ALE category. To their surprise, three years later, they received a bill from the IRS for nearly 30 thousand dollars. 

It is essential to have a trusted advisor who is up to date on compliance. For these events not to happen to your company—Health Insurance and benefits strategy a very much business strategy.