New York State Redefines Small Group – How It May Affect You
The New York State Department of Financial Services has confirmed that in response to the Affordable Care Act (ACA), New York State will be changing the definition of a “small group” to be 1-100 employees, effective January 1, 2016.
Currently a business is considered a small group if it has 50 or fewer employees who are eligible for health insurance. New York State will adopt the ACA method of counting employees to include all employees, nationwide and under common ownership, both full-time (FT) and full-time equivalent (FTE) to determine group size for plans renewing on or after January 1, 2016.
Because this change could impact how certain small group plans are rated as well as funded, we wanted to provide a link, below, to a recent FAQ issued by New York State. If you feel you may be affected by this change in the near future, or would like to learn more about this ACA change, please feel free to contact our Employee Benefits team with any questions.
To view the latest updates or a complete list of updates, please visit our compliance page.
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Judy Kamens, a Compliance Specialist in the Lawley Employee Benefits division, has more than 15 years of experience in all facets of Human Resources, with a focus and concentration in Employee Benefits administration and management.
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