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ACA options for Agricultural Businesses

Marilyn Schlake and Carroll Welte

Summary

The University of Nebraska-Lincoln Extension team has developed an online resource to assist businesses, including farm and ranch operations, in deciding their best health insurance options available under the new Affordable Care Act. Knowing what regulations affect the business is the first step to securing and implementing an option that works for the business and their employees.

Legally, under the ACA, there are no distinctions between agricultural enterprises and non-agricultural enterprises. How the ACA will affect an agricultural business depends largely on the number of employees in the business.
• 50 or more FTE: Starting on January 1, 2015, large (100+) employers are required to provide coverage for their full-time staff and their dependents or incur fines for each month coverage is not provided. Fifty-99 employers have until 2016 to provide health coverage.
• Less than 50 FTE: Although health insurance is not required, it may be expected by employees. Decisions made could be critical to retaining these highly valuable employees.
• Less than 25FTE: A larger portion of these smaller businesses do not provide insurance, but with premium tax credits, is that the best option available for a growing business?

Whether self-employed or an employer of a small or large number of people, the ACA requires the business owner to assess their human risks and make a change. This presentation will highlight the different regulations and options available to the agricultural producer and share the resource Health Care for Businesses (http://eship.unl.edu/healthcare).

Details

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