Impact of Health Care Reform on Small Business
Starting January 1, 2016, a small employer is defined as a business with up to 100 full-time employees, including full-time equivalents. This definition determines whether a Colorado-based business will be subject to small group rating and if they can apply for group health coverage through Connect for Health Colorado.
If you offer the same group health coverage that was in place on March 23, 2010, you may be enrolled in a Grandfathered Health Plan (see non-grandfathered plan for specifics). RMHP will continue to offer these plans to you and the group size change for small employers will not affect grandfathered plans.
No matter what plan you have, your company must comply with new waiting period requirements for health insurance eligibility. The waiting period limit can be no more than 90 days for newly eligible full-time employees.
Your company may introduce an orientation period of up to 30 days that can be added on to your waiting period resulting in up to 120-days before coverage is offered. RMHP will allow maximum waiting period of first of the month following 2 months of employment, or first of the month following 3 months of employment when an orientation period is established.
We know this can be complex. If you have questions, call us at 1-800-453-2981, option 1.