If you run a small business in California, then you’ll want know a little bit about the health insurance options available in our state so that you can better inform your employees about their options as well as decide on what kind of health insurance to provide for them. The following are a few helpful facts about health insurance in California:

• Is health insurance required? – Because of Obamacare, health insurance is necessary for pretty much everyone in California, with only a few exceptions. Adults who don’t have health insurance are going to have to pay either $325 or two percent of their family’s income as well as $162.50 per child. Individuals need to enroll in a health insurance program by February 15, 2015 in order to avoid the penalty.

• Are there tax breaks? – Some individuals could qualify for a tax credit under the Affordable Care Act to assist them in paying for their health insurance. The tax credit, or subsidy, will either be taken as an annual tax credit or used to help reduce the monthly premium. Tax breaks can only be obtained if the individual has chosen a health plan approved by both the government of California the federal government.

• Are there more affordable options? – If you don’t qualify for a subsidy, you can enroll in an Exchange Plan or a private health insurance plan. Private plans are often more affordable, but they also have less network coverage and often provide less benefits.

• Where can health insurance be bought? – California’s biggest portal for enrolling in an Obamacare Health Exchange Plan is Covered California. You’ll need income information and social security information to fill out the form.

These are some important things to know about health insurance in California. Contact us at The Benefits Store for more information regarding our health insurance plans. Our brokers are available to help at no cost to you. Also, for the latest news and information, leave your email address in the comments below and we’ll add you to our newsletter subscription list.

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