What About Pre-existing Conditions?
If you employ people who have pre-existing conditions, you may be wondering if you have to include them in your group health insurance plan. As it happens, the law is presently on their side. The Affordable Care Act stipulates that no small employer or specific employee can be refused group coverage because of a pre-existing condition, no matter what. This policy is known as “guaranteed issue”. Furthermore, insurance companies are mandated to renew the contracts for small employer health plans on an annual basis unless premiums have not been paid, the employer has committed fraud, or the terms of the agreement have been breached. Guaranteed issue also applies to large employers, which means that no employee who qualifies for benefits can be left out of group coverage because of their past medical records.
Compliance Saves You Money
Choosing coverage, you can afford for your employees is important, but so is keeping them healthy and satisfied. Try to strike a balance between saving money and offering support, so that you can stay under budget while your employees stay motivated. Additionally, you can avoid penalties and costly legal trouble by including all your employees in your group coverage. Follow the rules, and you’ll find it easier and cheaper to take care of the people who work for you.
