{"id":8069,"date":"2023-10-20T11:17:55","date_gmt":"2023-10-20T15:17:55","guid":{"rendered":"https:\/\/peakinsuranceadvisors.com\/?p=8069"},"modified":"2023-10-20T11:58:26","modified_gmt":"2023-10-20T15:58:26","slug":"ny-small-group-health-insurance-2024-federal-open-enrollment-period","status":"publish","type":"post","link":"https:\/\/peakinsuranceadvisors.com\/ny-small-group-health-insurance-2024-federal-open-enrollment-period\/","title":{"rendered":"NY Small Group Health Insurance Federal Open Enrollment Period runs November 15 \u2013 December 15 for January 1 effective dates."},"content":{"rendered":"

NY Small Group Health Insurance 2024 Federal Open Enrollment Period for December 1st and January 1st effective dates.<\/h1>\n

If you are looking for NY small group health insurance, then you might be happy to hear that you can enroll during the yearly Federal Open Enrollment Period (FOE) for small businesses between November 15 and December 15 for December 1st and January 1 effective dates. This is great news for new groups as well as those groups that weren\u2019t able to meet participation requirements in the past. Furthermore, these groups will be able to renew through FOE in the future, they will NEVER have to worry about par, and they will NEVER have to worry about audits! Just apply by November 15th for a December 1st start date, and by December 15th for a January 1st start date.<\/p>\n

What is the Federal Open Enrollment Period?<\/h3>\n

Normally, you need 60 \u2013 75% of your employees to opt into a group health insurance plan, but during the FOE period that requirement is waived, and you can sign up even if only one person is insured.<\/p>\n

Why is the 2024 Federal Open Enrollment Period for small businesses important to you?<\/h3>\n

When you stay within the small business FOE window, you will not be required to meet the normal participation requirements for small groups. This means you can have a group of 20 employees with only 1 employee enrolling. This is good news for businesses that otherwise want to offer coverage to their employees but would otherwise not be eligible because of participation requirements.<\/p>\n

Is small business health insurance more affordable than individual health insurance?<\/h3>\n

Small business health insurance can be a more affordable option for both employers and employees. According to the eHealth Small Business Health Insurance Report, small business health plans have lower average costs per-person compared to individual market coverage. Plus, employee and employer contributions towards their share of health insurance premiums can be tax deductible as well, making small group plans and even more competitive option.<\/p>\n

Why should employers consider offering health insurance coverage to employees?<\/h3>\n

Overall, the top reason cited by small business owners for offering health insurance to their employees was the strategic hiring and recruiting advantage provided by group health insurance coverage. These advantages include:<\/p>\n