Many individuals with health insurance receive this important coverage through their employers. Yet, in some scenarios, a job might not come with this perk. Employees who work for small companies, contract or freelance workers, and self-employed individuals, for example, must all consider other means for finding insurance. Below, learn what you can do to ensure that your medical bills will be covered.
Do Employers Have to Provide Coverage?
In most cases, there isn’t a legal requirement stating employers must provide this benefit. Yet, many do so either willingly or to bypass fees. Companies with 50 employees or more, for instance, will face a significant IRS penalty if they don’t offer health insurance to at least 95% of their workforce. As of 2020, the fee was $3,860 per employee. For organizations with fewer than 50 employees, however, the fee does not apply.
With that being said, many companies offer coverage with the knowledge that it’s a sought-after benefit among many workers. There may also be some scenarios in which an employer does legally have to offer coverage. For example, if you’re in a union, your employer may be contractually obligated to offer the benefit. Additionally, companies may not discriminate and offer only certain employees insurance based on any potentially discriminatory factors, such as race, pregnancy, and age.
What Can You Do If You’re Not Insured Through Work?
With healthcare costs climbing higher than they’ve ever been, carrying insurance is a basic necessity. Even if you consider yourself healthy, treatment for unforeseen accidents or illnesses could cause you to accrue hefty medical bills. For this reason, you’ll never want to be uninsured. Fortunately, you can purchase a policy based on your unique needs. For example, if you don’t have any chronic conditions and rarely need to see a doctor, you might consider a plan with a low monthly premium but a higher deductible.
If you’re responsible for your own health insurance because your employer doesn’t offer it, allow Stringer Insurance Agency to help you find the right plan. Serving Dahlonega, GA, this trusted agency offers policies through top-rated providers to ensure their clients have the best type of coverage for their unique needs. Find out more about their options online or call (706) 864-3515 to request a quote.