Patrick Rees, Marketing Operations Superstar
It’s Open Enrollment right now and employers, big and small, are considering their options when it comes to the healthcare benefits they offer their employees. Not all of us can afford to provide our employees the luxurious healthcare packages that multinational conglomerates offer, so it means we have to barter for the best deal and maybe accept an offer that doesn’t benefit all parties. Small employers, in particular, are at a disadvantage and cannot match the big boy's benefits.
However, the playing field has leveled out recently as a result of President Trump’s executive order expanding upon previous healthcare legislation. As of October 22nd 2018, small employers can now offer tax-free reimbursements for health insurance costs to their employees through Health Reimbursement Arrangements (HRA’s). This proposed regulation results in increased health coverage to millions of Americans.
So how does this new executive order, coupled with Open Enrollment, represent a unique opportunity for progressive small-business owners?