Minnesota Small Business Health Insurance Options

The Complete Minnesota Small Business Health Insurance Guide (2024 Edition)

HSA For America’s Complete Guide To Health Plans for Minnesota Small Businesses. This guide is designed for companies with fewer 30 employees, located anywhere in Minnesota.

This guide is designed to provide small business owners and professionals with the information they need in order to offer their employees health insurance that’s cost-effective. This will allow you to remain competitive and offer the compensation and benefits you need in order to keep your best talent.

Overview of Minnesota Small Business Health Insurance Benefit Options

Minnesota small businesses have many options for providing employee health insurance.

The most popular, and by far the most costly, option is to use a group health plan.

The cost of group health insurance sponsored by employers for a family and worker varies depending on age. According to from the Kaiser Family Foundation the average annual price in 2022 will be $21,327.

Minnesota employees on average contribute $5,573 to health insurance.

Minnesota businesses can also reduce their cost by a great deal with a number of options. These options include:

Health Savings Accounts
Healthcare reimbursement arrangements (HRAs).
Direct primary Care Memberships
Health Sharing Programs

The most effective strategy for a small business depends on several factors. This includes the size of your organization, your available funds, and even your staff’s age and healthcare needs.

Read on the go, download our Complete Guide To Small Business Healthcare Plans.

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Minnesota Small Business Health Insurance Geographic Perspective

Minnesota’s unique healthcare landscape is also important to consider. This includes not only the busy areas of Woodbury, St. Paul, and Saint Cloud but also more rural places around Marshall, Zumbrota, and other nearby towns.

Minnesota employers should carefully consider how they distribute their workforce throughout the state. Executives in Saint Cloud who are based at the company’s headquarters may not be able to justify choosing an HMO which restricts employees to only seeing doctors in their network when many of their workers live in Avon and have jobs there.

Minnesota Small Business Group Health Insurance

Minnesota’s employers most commonly choose the traditional health group plan.

Also, it’s the most costly.

What’s the process?

The employer enters into a contract with an insurance company, which is usually for profit. This insurance will provide workers’ health coverage and – if they wish – their families.

All employers that have at least 50 employees are required to offer ACA qualified health insurance for all their employees who work over 30 hours per weekly, otherwise they must pay a fine.

Health insurance plans must include the 10 minimum essential coverages required by the Affordable Care Act. The ten essential coverages (MEC) are as follows:

Patients can receive ambulatory services without needing to go into hospital.
Emergency Services
Hospitalization can include overnight hospital stays and surgery.
The care of newborns, pregnant women, and mothers (both before and afterwards)
Treatment for substance abuse disorders, mental illness and behavioral problems (including counseling and therapy)
Prescription drugs
The Rehabilitation and habilitative Services and Devices (services and equipment to assist people with disabilities or injuries gain mental and physical abilities.
Laboratory services
Chronic disease management and prevention services
Adult dental coverage and adult vision insurance are not considered essential health benefits.

As part of the ACA, health insurers must also cover contraception and breastfeeding.

When a worker enrolls for insurance during an initial period or a special period that is triggered after a qualifying event (such as a job loss), or during open enrollment starting November 1st, each year, their health history cannot be used to deny or increase premiums.

Minnesota Small Businesses Can Choose Not to Offer Health Insurance

Employers with less than 50 employees are exempt from offering health insurance.

Minnesota law does not have any requirements. You don’t need to provide health insurance if you employ fewer than fifty people.

The penalty is not applicable to you.

It is a smart idea to offer health coverage to all companies, including small companies. You may have a harder time retaining and recruiting quality workers without a healthy benefit.

Employers of all sizes should consider offering health insurance benefits, even very small ones. They may find it difficult to hire and keep quality employees if they don’t offer a good health care plan.

Minnesota has a low unemployment rate and employers are fiercely competing for top talent.

Minnesota employers could save money by providing a health-sharing plan or medical cost sharing (more information below) and paying some of or all the expenses for their employees.

HRA Alternative to Minnesota Small Business Health Insurance

The alternative is to offer an approved small employer health reimbursement agreement (QSEHRA) and allow your employees to purchase their own personal health insurance without paying any taxes.

QSEHRAs offer the following advantages to employers:

1.) There are no minimum contributions

QSEHRAs are not tied to an annual minimum like pension plans. It is up to you as an employer to decide how much money will be allocated for HRA benefits. This budget can change every year, depending on your company’s cash flow.

QSEHRAs give you control over your budget.

2.) Flexibility

Employees can be offered a different benefit based on whether they are married or have children. You can therefore discriminate against employees without dependents by offering a higher benefit to those with families.

3.) Both employers and employees are eligible for tax-free treatment

Contributions by employers are tax-deductible. Your employees won’t pay tax on the QSEHRA benefits, unlike those paid in cash.

This is why offering QSEHRAs to employees who can then use them for health insurance purchases or other expenses, are usually more beneficial than offering an insurance subsidy.

4.) QSEHRAs support employee choice

Many traditional group insurance plans limit the options available to employees who are in vastly diverse situations.

They are usually overpriced, and not suitable for employees, because HR and management choose them, and not the workers.

The QSEHRA gives workers and their family a much wider range of choices and allows them to choose the best health care plan for themselves.

Minnesota Taxes Employer-Provided Health Insurance

Under federal and Minnesota law, the health insurance premiums that employers pay are fully deductible as business expenses. These premiums are not taxable for the employee.

Overall, health sharing plans have lower costs. The employee can also deduct their monthly cost. Employees are taxed on employer-paid health costs.

Minnesota Small Business Health Insurance: The Disadvantages

Both employers and workers have important advantages to traditional employer group health coverage.

Cost
The traditional group employer health insurance is not without its disadvantages, both for the employers and the employees.

Overkill is a major factor in the high cost of traditional health insurance. Washington and St. Paul government officials have designed policies that include mandatory requirements and coverages, which are often unsuitable for workers.

As an example, the traditional insurance industry requires insurers to include mental health and drug-and-alcohol addictions benefits in their premiums. Many workers are not interested or require these types of coverage.

It makes them less efficient and more expensive than they should be.

Inflexibility
Group health insurance plans often offer a “one-size fits all” strategy, which may not adequately address the needs of specific employees and their budgets. By nature, group health plans sponsored by employers tend to provide only one or two options that are not optimal for certain employees.

The Affordable Care Act may offer subsidies to workers who purchase individual plans.

These workers may benefit from a cheaper health sharing plan. Affordable and innovative alternatives to insurance may be the best solution for employees in good physical health who do not have pre-existing medical conditions.

More information on health share plans is discussed below.

Administrative burden

Administrative costs are high when managing a comprehensive health plan. It involves managing documents and compliance, auditing the plans to make sure employees are not enrolling non-qualified individuals into the plan and answering questions from staff. This is essential for a health insurance plan to run smoothly within an organization.

They are a burden for very small companies who do not have enough employees to support a full time HR team to manage the plan.

Business owners may also use strategies like Health Reimbursement Arrangements or health care stipends

Businesses can also employ other strategies, such as the Health Reimbursement Arrangements (HRA) and health care stipends.

This alternative approach encourages workers to obtain their own insurance through Affordable Care Law. Workers may then be able to take advantage of available subsidies. It removes employers from the process and reduces administrative and overhead costs.

Health Sharing Plans in Minnesota

Minnesota small business owners can benefit from health sharing plans as an affordable and viable alternative to expensive insurance.

Minnesotan businesses are increasingly turning to medical cost share plans for a more budget-friendly alternative to group health insurance. When switching from traditional group health coverage to health sharing, businesses can typically save 50% or more on their premiums.
Minnesota small companies could possibly save upwards of $10,000 per employee each year on coverage for their family and over $3,500 annually for single coverage.

These programs offer a modern way of funding healthcare. Companies can provide their employees with access to high quality healthcare and still control costs. Shared resources are the basis of health-sharing programs.

Participants in health-sharing programs pay an annual amount to the insurance company instead of paying premiums.

Health Sharing Plans vs. Health Insurance

Not all health plans offer the same coverage as insurance.

Instead, they are groups of volunteers who have agreed to pay for the medical expenses of their fellow members. Health sharing ministries, in contrast to insurance companies that are typically for-profit businesses, are non-profit.

Mandatory Coverage

There are no federal or state requirements that require health plans to cover things many people do not want. The health-sharing organizations do not have to comply with the requirements of minimum coverage.

It is not necessary for medical cost-sharing to cover addiction treatment costs for individuals who have never used drugs. Also, they do not need to cover any injuries due to drunk driving.

Pre-Existing Conditions

In contrast to health insurance, healthsharing may require a waiting period for them to share in the costs associated with treating existing conditions.

They also often have waiting periods before allowing surgery, unless the injury or accident was not foreseen at the time of enrollment.

They also help to provide a set of excellent benefits that are a fraction as expensive as a policy purchased through MNsure or an unsubsidized ACA approved group health care insurance.

Under the Affordable Care act, healthsharing doesn’t qualify to receive subsidies. Although the cost savings can be so large, switching to healthsharing is still a good option for most people, even if their situation allows them to qualify.

Minnesota employers often find that switching to health-sharing makes more sense, since small group plans do not qualify for a subsidy on premiums under the ACA.

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Health Sharing and Network Restrictions in Minnesota

Health sharing plans can offer more choices when it is time to select healthcare providers. This differs from traditional managed health care plans. HMOs and group PPOs are among the most commonly offered employer-sponsored health plans.

Most healthsharing organizations Minnesotans do not limit patients to only providers who are part of their network. Members of health-sharing plans can select their doctor. People should be able to choose the doctors they want.

Do You Need Health Insurance for Your Employees?

Every business has its own unique characteristics. The best plan to use, be it a group health plan with a traditional approach, or healthsharing, requires careful evaluation.

Good news! It is easy to obtain a case study and specific recommendations for your business and staff in Minnesota.

To begin the process, click on this link for an appointment.

Prepare a list of employees.

Switching to health insurance can save you thousands per covered employee. However, health sharing might not be the best option if there are employees with pre-existing illnesses.

Free consultations and analyses are available.

Minnesota Small Business Health Insurance: Health Reimbursement Plans

HRAs are tax-free benefits funded by employers that reimburse employees for their individual health care costs.

Small businesses in Minnesota often drop group health benefits altogether. They instead establish a HRA and provide the money to employees to purchase their own individual health insurance on the market with dollars pre-taxed.

So, workers can take advantage and reduce the costs to both employer and employee.

Employees can also use their HRA to cover out-of pocket costs like prescriptions, copays, deductibles, durable medical equipment and prescriptions. HRA benefits, once again, are not taxed to employees.

An HRA is a great alternative to formal health insurance for groups. It allows your employees to pick the plans they prefer and that suit their individual needs.

To learn more about Human Resource Assessments (HRAs) for Small Businesses, click here.

QSEHRAs – The HRA for Small Businesses

QSEHRA, or the Qualified small employer health reimbursement arrangement (pronounced “Cue Sarah”) is a type of HRA that can be used by small businesses.

The benefit is for employers with less than 50 employees full-time or equivalent and those who do not offer any traditional group health plan.

Business owners can set the maximum QSEHRA amount they wish to contribute, as long as it is within certain parameters. Minnesota employers are allowed to make contributions up until 2023 of up $5,850 (up $487.50 monthly for an individual employee) or up $11,800 (up $983.33 for a family).

This money is used by employees to purchase insurance on their own via an online health exchange website or through a Individual Benefits Manager. It preserves eligibility for subsidies, something they could not receive under a company-paid health plan.

Employers can reimburse their employees either for the premiums alone or for both premiums and additional medical expenses.

QSEHRAs & Special Enrollment Periods

Employees will be eligible for the Special Enrollment period if you change your insurance to an HRA. It is a period of 60 days in which workers are able to buy their own ACA-qualified health insurance with guaranteed-issue rights without going through any medical underwriting.

The QSEHRA will ensure that employees’ coverage is maintained when your health insurance group plan is replaced by a QSEHRA.

Minnesota Small Business Health Insurance: HRA Advantages

There are many advantages to Health Reimbursement Arrangements (HRAs).

The money you pay for HRAs is tax deductible by you and tax free to your employees.

HRA funds are yours until they’re actually paid out to employees. You can use it as working capital. It is not required to be deposited with a third party.

HRAs are designed with a lot of flexibility by the employer, which can include what expenses they will cover.

Employees don’t lose their health insurance coverage when they quit the company or switch to a contractor status. According to the QSEHRA model, each worker is the owner of his/her insurance and can control it. Employer not.

Minnesota Small Business Health Insurance: HRA Disadvantages

Many workers do not wish to take on the task of researching and selecting their own healthcare plan. Some workers need assistance to help them navigate through the change.

You can get help from your HSA for America Benefits Manager if this happens. This ensures that no worker gets left behind.

You can also call 800-913-0172 to schedule your appointment.

Click here if you want to know more about Minnesota health insurance alternatives for small businesses.

The Direct Primary Care Advantage

Direct Primary Care plans (DPC) present an alternative healthcare model that’s undergoing an explosion of popularity in Minnesota and across the country.
It’s a membership-based model: In return for a flat, affordable monthly fee, like a gym membership, your employees receive as many visits as they need, either in person or via telehealth.

DPC is a great option that allows individuals to focus on their health with a low monthly cost.

DPC plan members have unlimited access primary, chronic and prevention care.

Examples of primary care direct services provided include:

Medical services typically provided by primary care direct providers include the following:

Preventive care. DPC doctors are committed to preventive care and offer routine screenings, immunizations and checkup
DPC Doctors treat injuries and illness that are acute, such as minor cuts, infections, skin diseases, minor illnesses, and colds.
Management of chronic disease. DPC doctors assist patients in managing chronic conditions such as hypertension, diabetes, arthritis and more. These doctors offer ongoing treatment, monitor patients, and adjust their plans of care as required.
Comprehensive physical exams. DPC doctors provide comprehensive physical exams that help assess health overall, identify possible risks, and offer personalized health recommendations.
Urgent care. DPC is often able to offer same-day, or the next-day, urgent care.
Patients can receive immediate attention to non-emergency issues by making appointments.
Diagnostic and laboratory services. DPC physicians may coordinate or offer a wide range of diagnostic and laboratory services, including blood tests, urine analyses, imaging studies, (X-rays, ultrasounds), electrocardiograms, etc.
Management of medication. DPC doctors are able to prescribe medication, track their effectiveness and adjust as necessary. The doctors also offer education on the proper use of medications.
Mental Health Services As part of comprehensive health care, many DPCs offer mental health services. DPC physicians may offer counseling, therapy and refer patients to specialists in mental health when needed.
Minor procedures.
Referrals and coordination of care. DPC physicians act as advocates for patients and coordinate with other health care providers, specialists, hospitals, and hospitals when necessary.

Since there is no insurance provider involved, you don’t have to worry about copays, coinsurance or deductibles. Everything is covered by the monthly subscription. The monthly subscription covers everything. This allows cash-strapped employees to get the immediate care they require. The workers will never have to delay seeing a doctor due to the cost of the co-pay or deductible.

If patients need additional coverage, they can opt for supplemental plans that include high deductible health plans (high deductible health insurance), health sharing plans (health sharing plans), or accident insurance. DPC offers routine healthcare as part of membership. Patients can select more cost-effective coverage such as health sharing plans instead of traditional health insurance.

Health Savings Accounts (HSAs)

Health Savings Plans (HSAs) are powerful tools that help people manage their medical bills and keep insurance premiums low.

Minnesota residents and business owners need to take advantage of every possible tax incentive. As compensation, Minnesota allows employers to deduct their contributions towards employees’ Health Savings Accounts.

HSAs let individuals set money aside for future healthcare costs before they pay taxes. HSAs may be contributed to by employees as well as employers. However, the limit is set each year by Congress in order to adjust it to inflation.

The money in your HSA grows tax deferred, and any withdrawals made to cover qualified medical expenses are tax-free.

HSA Eligibility

Employees must be enrolled in an HDHP to qualify for a HSA or employer contributions pretax.

The IRS has defined a high-deductible health plan for 2023 as any plan that includes a minimum deductible of $1,500 per individual, or $3,000 per family.

An HDHP’s total yearly out-of-pocket expenses (including deductibles, copayments, and coinsurance) can’t be more than $7,500 for an individual or $15,000 for a family. (This limit doesn’t apply to out-of-network services).

Do I have to choose between HSAs and Health Sharing?

There is only one major plan available to employees that preserves their eligibility to make pre-tax contributions into an HSA: HSA’s SECURE Plan.

HSA SECURE Plan allows you to take advantage of the health-saving benefits and tax savings that come with a health saving account, while also combining them with those of health sharing.

To enroll in the plan, however, you must be a self-employed person or own a small business.

HSA SECURE will not be available for straight W-2 workers. HSA-SECURE may work for you if the employee has a side business, freelance gig or small company, is in excellent health, does not have any preexisting medical conditions and can be self-employed.

HSA SECURE Plans are also an excellent way for small business owners to save on expenses.

HSA SECURE is only available to employees who enroll on their own. If they already have an HSA established, then you can still make pretax contributions on their behalf up to the limit Congress sets each year.

Click here to learn more about HSA SECURE.

How can I combine HSAs and health sharing plans?

Only one health-sharing plan, the HSA SECURE, is currently available from HSA for America

HSA SECURE Plan combines the benefits of tax-savings and health insurance of a Health Savings Account with cost savings of health sharing.

To be eligible for this plan, employees must have self-employment or business ownership income.

HSA SECURE plans are not offered to employees who receive a W-2. HSA Secure is available to employees who are self-employed, have side businesses, do freelance work or own a business. If they’re in good health and don’t need any ongoing medical care due to preexisting conditions, this plan may be the best option.

You and your small-business partners may find that the HSA Secure Plan is a fantastic way to save some money.

Employees would be required to sign up for HSA SECURE themselves. You can contribute pre-tax to their HSA once they enroll and establish it.

Learn more about the HSA SECURE plan.

How Are Minnesota Small Business Health Insurance Benefit Taxed?

You now know about the different strategies that small businesses can use to supplement traditional health coverage. Below is a quick table explaining each benefit’s taxation.

Edit
Plan Type	Employer	Workers
Traditional health insurance premiums	Tax deductible. May qualify for a tax credit (see below)	Non-taxable
HSA contributions	Tax deductible	Pre-tax, up to certain limits. No income limitations.
Health sharing costs	Tax deductible as a compensation expense	Taxable as ordinary W-2 income
Health reimbursement arrangements	Tax deductible	Benefits are non-taxable to the employee
HSA withdrawals	N/A	Withdrawals for qualified medical expenses are tax-free. Otherwise taxable as ordinary income. A 20% penalty for non-qualified withdrawals applies up until age 65.
Direct primary care costs	Tax deductible as a compensation expense	Taxable to the employee

Minnesota Small Business Health Insurance Care Pyramid

Employee health benefit packages should include all aspects of the Employee Healthcare Pyramid. This includes routine preventive health care, primary care access, early detection of problems and maintenance, right through to catastrophic incidents.

Care Pyramid for Minnesota Small Business Health Insurance

The most common insurance solutions for each of the levels in the Care Pyramid on the left.

While the right has a variety of alternatives, which are more cost-effective, to provide meaningful protection to employees in each level of the Pyramid.

The design of a good plan provides affordable options for employees at every level. The plan should ensure that none of the employees are forced to postpone or skip care simply because they don’t want to pay a higher premium, copay, or coinsurance.

You can work with your Personal Benefits Manager to create a customized plan for each employee that addresses the Care Pyramid at the appropriate level. These plans are often a fraction of what a standard group plan would cost the employer.

Minnesota Small Business Health Insurance Tax Credit

Small Business Health Care Tax Credit, passed with the ACA allows certain small businesses claim a federal credit up to 50% on their employees’ health insurance costs.

This program is designed for small business owners who have 25 or less employees and tend to hire workers at lower wages.

For-profit as well as non-profit organizations can both claim credit.

* Has fewer then 25 employees. Average salaries are around $53,000. It is not common to include owners when calculating average salaries and the number of workers in an organization. The total number is calculated using “fulltime equivalents.” The two-half-time employees will equal one fulltime employee.

* Employers must cover at least half their premiums.

*Paying at least 50% of employee premiums;

*MNsure in Minnesota is the exchange that offers Affordable Care act-qualified insurance.

Tax credits are eliminated when employers reach 25 employees, or their average wages is at least $53,000.

How do you claim credit?

This tax credit can be claimed on your income tax returns with IRS Form 8941 attached (tax-exempt businesses are required to submit a Form990-T to make a claim even though they do not have to).

Contributions to health insurance for your employees do not attract tax.

My business has not paid any taxes for this year. Can I claim my tax credit even though I don’t owe any taxes this year?

Yes. The tax credit may be used as a way to reduce income tax liabilities incurred in the prior year, or it can also be carried forward and offset over 20 years.

Credits are refundable if your business is tax exempt.

You can consult with your tax adviser to get the full details of the Small Business Health Care Tax Credit.

Combine Small Business Health Plan Strategy

When it comes to maximizing your coverage, combining different programs is a wise move.

Combining a variety of health care packages allows employers to reduce healthcare costs and provide complete coverage for their employees.

Combining a Direct Primary Care Plan (DPC), which covers normal primary care, with a low cost health sharing program that includes catastrophic events is one way to achieve cost savings.

Comparing it to traditional group health insurance can make this option more affordable, either for the company or for employees.

Offering employees the choice between signing up for a health sharing plan or purchasing an individual health insurance plan, as well as giving them the chance to fund a Health Savings Account (HSA) for those who choose an HSA-qualified HDHP plan, can give them more flexibility and possibly lower costs.

What To Do Now

The best course of action is to put together an employee census and contact us for a free, complementary business health plan analysis and recommendation.

Your HSA for America Personal Benefits Manager will review your family and work situation with you. They’ll also discuss your budget, needs and employees’ contribution ability.

Several of our PBMs themselves are entrepreneurs who have had great success. Since they have been business owners, our PBMs know how important it is to hire and retain talent that will help your company remain competitive.

Do I have to offer health insurance AND health sharing together?

It is possible to offer the two options together, giving employees the choice of which option best meets their needs.

It is important to note that if a large number of employees decide not to participate in the group health insurance, your participation rates could be below what’s required for a plan. Alternatively, an HRA can be used to reimburse employees who purchase individual insurance at a cost that is close to what they would pay.

Minnesota Small Business Health Insurance: FAQs

The difference between Health Sharing and Insurance for Small Business?

While health sharing refers to members paying into an account to help cover their medical expenses, traditional health insurance plans are offered by insurers.

What are the waiting periods on pre-existing condition plans?

There may be a wait period before some plans cover pre-existing medical conditions. You should review plan guidelines, or speak to a Personal Benefits manager for additional information.

Health Savings Accounts (HSAs) can help employees manage their medical expenses in Minnesota?

HSAs provide individuals with the opportunity to invest pre-tax dollars to help pay for future healthcare expenses. The contributions of both employees and employers could provide tax incentives and possible savings for healthcare expenses.

What is the Small Business Health Care Tax Credit and how do I claim it?

For-profit small businesses can claim the tax credit on their annual income tax returns with IRS Forms 8941, while those that are tax exempt must submit a Form. 990-T.

HSA for America is not a tax advisor. For more information, employers should contact their tax advisor.

Does Minnesota cover the cost of maternity coverage under health sharing plans?

Minnesota includes maternity benefits in most health insurance plans, as well as health sharing plans, that include coverage for prenatal care and postnatal treatment. Certain health sharing policies may limit the benefits available to children born out-of-wedlock.

HRAs may be combined with individual or group health plans?

HRAs work well with many other types of insurance. HRAs may be used as a reimbursement for employees to pay individual insurance premiums by small business owners who have canceled their group policies. HRAs cannot reimburse health-sharing plan costs directly

Which combination of health care insurance and cost sharing options would be best for my Minnesota-based small business?

Do not do it all alone! A Personal Benefits Manager can be contacted They can provide a complimentary analysis and recommendations based on the specifics of your needs, including budgets, employee counts, and pre-existing conditions. The experts can design a plan to maximize the value of your employees, while maintaining costs and helping you stay competitive.

Do employers have the right to make contributions towards their employee’s HSA in Minnesota?

You can make contributions into your employees’ HSAs. However, there are limits imposed by Congress on the amount you can pay.

Minnesota allows employers to deduct contributions made by their employees towards HSAs from the tax they pay on state income?

Yes. Minnesota allows employers to deduct their contributions for employee HSAs as compensation expenses from state income taxes.

Do small Minnesota businesses make any sense by offering Direct Primary Care plans alongside other insurance options?

Health sharing plans and DPC can be combined to provide small business owners and employees with comprehensive healthcare coverage at a low cost.

If a Minnesota business does not owe any taxes, can it still claim the Small Business Health Care Tax Credit?

If a company does not have any tax obligations in one year, they can use the Small Business Health Care Tax Credit as a way to pay back their income taxes from that year. They can even carry it forward to up to 20 more years.

What exactly is an HRA and how do they work?

HRAs allow employers to reimburse their employees for certain medical expenses, which aren’t covered by the employee’s insurance. Employers set the criteria for what is eligible, and they contribute accordingly.

Are there restrictions on how large a business can be to qualify for the Minnesota Small Business Program?

The Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) is only available to employers who have fewer than 50 employees. Other HRAs are available if your employer has over 50 employees.

A new ACA law requires that employers provide a qualified plan of health insurance for their employees or face a financial penalty. Talk to your personal benefits manager about your future plans if you’re planning on or are close to hiring 50 full-time workers or an equivalent number.

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