Here is what one TexHealth business owner said on a recent anonymous survey, “The service that TexHealth provides is vital to my small business. Not only did affordable health care allow my husband and I to realize our dreams of starting a family, but it helps my small business to thrive. I am able to offer benefits to my employees that they wouldn’t otherwise be able to afford and assists me in recruiting and maintaining amazing staff. It helps level the playing field for small business with big corporate businesses. Austin prides itself on supporting small business and I think TexHealth is the definition of small business support. I just really can’t say enough about what they mean to my family and my staff.”
Here’s another testimonial from the same survey. “I highly recommend all small business owners contact TexHealth to see if they are eligible for the insurance subsidy. Our staff really loves and appreciates it and it makes a big impact in their health and their sense of security. It’s quite an easy program to get involved with and worth every minute of a business owner’s time to make the connection. Offering affordable insurance is one of the ways that we support and retain our staff.”
According to the Affordable Care Act, small businesses do not have to offer health insurance if they employ 50 or fewer employees. What most small business owners have found though is that they have a higher turnover rate if they don’t offer benefits. Some industries even compete for employees based on the benefits they offer. The story that is most often heard is that a small business loses its employees to the competitor down the street because they offer health insurance. At the same time the policies that are offered are too expensive for many employees because the employer can only afford to pay 50% of the premium for each employee.
So what options does a small business have if they need to compete and retain talented employees but they cannot afford to pay more than 50% of the premium for a health insurance plan? The answer is TexHealth. Employees who cannot afford to pay their 50% of a health plan have TexHealth to help them with their share. You see, TexHealth is a “three-share” plan. In a three-share plan there are three premium payers, the employer, the employee and TexHealth. The employer pays their 50% share of the premium and the employee’s 50% share is divided between the employee and TexHealth. TexHealth will reimburse the employee one-third of the total premium up to $110 per month for their health insurance premium. The business has to have an office in Williamson, Travis, Hays, Burnet, Bastrop, or Milam County and the employee cannot earn more than $49,960 per year from the business. For more information – www.texhealthct.org or call 512-524-2618.