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Small Business Health Insurance in Tennessee

Welcome to HealthTN.com’s resources for Tennessee Health insurance for small businesses in 2015. We know owning a business is challenging, even if it’s small, and navigating the federal health Insurance and SHOP marketplace can be overwhelming. There are new changes coming in 2015 – 2016 that will effect a lot of small and medium sized businesses, consider starting a relationship with an expert Small Business Insurance Agent and stay ahead of the changes.  We work with you and your team to make sure you and your employee’s get the best possible coverage at the most affordable rate.

Help is just a phone call away — (615)-541-4257

How to buy Health Insurance for your Business in Tennessee

To secure insurance policy or compare your current coverage with other options you’ll need to speak to a health insurance Agent or visit the Small Business Health Options Marketplace or SHOP at healthcare.gov. Our agents are trained on the S Although there are a lot of online resources small business health insurance is not something we recommend just signing up for online, it takes time and an expert knowledge of your businesses specific needs. We can walk you through every step. We have over 50 licensed and qualified agents, one of which is sure to be an expert in your area or worked with businesses with similar needs.  Start by emailing – info@continentalha.com – or calling (615)-541-4257 and asking for an agent in your area. An agent can meet with you on site or over the phone and at a time of your choosing, to help you navigate all of the small business health insurance options in Tennessee.

Are you Self-Employed and looking for Individual Insurance?

If you are interested in comparing individual insurance, you can search here for Tennessee Health Insurance. Click the “Enroll Now” button and you can see how much subsidy you qualify for, compare the lowest plans in your area, and connect to a health insurance over the phone and actually complete your enrollment on the spot.  We have a page for self employed business owners in Tennessee.

Employer Pay or Play Tax Calculator

You may want to start by using our Tax Calculator

2015 Tax Credit for Small Businesses

The tax credit for small businesses has relieved millions of business owners of the burden of paying health plan premiums for their employee’s. To qualify for the credit, small businesses must:

  • Have less than 25 full-time equivalent employees
  • Pay at least 50% of their employees’ health insurance premiums
  • Pay an average annual salary or wage less than $50,000.00 to each full-time employee
  • Here is a good reference for Small Business Health Care Tax Credit Scenarios

Owners are not included in the number of full-time employees. Their personal incomes and health insurance premiums are not considered as employee income and premiums. The tax credit cannot exceed the amount of tax liabilities.

Start the process of determining your tax credit by calling – (615)-541-4257


 

Some Frequently Asked Small Business Insurance Questions

(Current to 2015 regulations)

Does it cost more for my small business insurance if I use an agent or a broker?

Not at all.  The premiums you pay will be the same with or without the help of an agent or broker.  Agents and brokers are paid by the insurance companies whose policies they sell.  On the contrary, an agent or a broker is likely to save you money on your premiums by accurately assessing your needs and available options. HealthTN’s agents are licensed with all of the major carriers so we can cross compare the best plans in Tennessee.

How do I calculate the number of equivalent full time employees in my business?

You can calculate your businesses FTE’s at the federal Marketplace. The FTE’s are not state specific, so what is calculated on the Federal level should apply to any business in Tennessee.  You can access the SHOP FTE calculator here.

(Answer Coming soon)  You can ask this question via email at Info@continentalha.com, we’ll be back to  you in no more than 24 hours.

What qualifies as a part-time employee in Tennessee and does my business need to give them health insurance?

A part-time employee is anyone who works less than 30 hours a week or less than 120 days per year.  So any seasonal employee that works 40 hours a week for less than 3 months would still be considered a part time employee. Any business is welcome to provide health insurance to their employees but large businesses (in excess of 50-100 employees) may face penalties.  If your business is close, it would be safest to contact an insurance agent or the Federal Marketplace to verify your businesses situation.

If I own a Sole Proprietorship, or am a Partner in a business, should I be counted as a Full Time Employee?

No, a sole proprietor or business partner should not be counted as a Full Time Employee.  It’s also the same if you own more than 2% of an S Corporation.

I own a business in Tennessee, does Obamacare require me to offer my employees health insurance?

No, but large employers who choose not to provide health insurance to their employees could face penalties.  Businesses with 100 or more employees are subject to Employer Shared Responsibility portions of your

Do independent contractors (Form 1099) qualify as Full Time Employees?

No, Independent contractors that have worked for your business do not qualify as employees. You can see what is defined as an Independent Contractor at www.irs.gov.  If an employer-employee relationship is determined to exist, regardless of what they are called, they may added to the number of Full Time Employees for your business.

What does “Employer Shared Responsibility” mean under the Affordable Care Act?

Small Businesses with less than 50 employee’s represents over 95% of all Small Businesses and are completely exempt from the employer responsibility provisions.  The provisions only apply to businesses with 100 (Full Time Equivalent) FTE workers in 2015.  In 2016 that number will be reduced to businesses that employ 50 or more.

(Answer Coming soon)  You can ask this question via email at Info@continentalha.com, we’ll get back to you in no more than 24 hours.

Can my business write off my health insurance expenses?

(Answer Coming soon)  You can ask this question via email at Info@continentalha.com, we’ll get back to you in no more than 24 hours.

I have a lot of seasonal Employees, how do I handle those?  Do they count towards my full time employee count?

Employees with a regular annual employment that is generally 6 months or less per year are not considered full time employees. (Source, Treasury Dept.)   *Note- Healthcare.gov suggests using a limit of 120 or less working days per year.

Sources:

Treasury Dept. 2015 Fact Sheet 

We hope this information is helpful to you and your business.  Please let us know if their is anything else we can do to help. At Health Tennessee we have been working since 2007 to demystify the health insurance and assist everyone looking for small business health insurance in Tennessee.

Tennessee Health Insurance

HealthTN.com is a small business that takes joy in serving Small Businesses in West, East, and Middle Tennessee for the last 5 years as an extension of Continentalha.com. We currently have offices in Brentwood TN, (Just outside Nashville) and Chattanooga, TN but our health insurance agents are from every walk of life, and all over the state of Tennessee! One of the best parts of our service is, we come to you and meet you right in your home or business. There is never any obligation to buy and we meet at your convenience. Call (615)-610-1440 anytime for a quote or a question.