Hi, my name is Mark Herschlag, CEO of Cosmo Insurance Agency. Last week I introduced the topic of Association Health Plans. This week I’ll go further into what exactly AHA plans are and how they can be beneficial to you and your business.
-Association Health Plans (AHPs), under the Department of Labor's rule, are group health plans that employer groups and associations offer to provide health coverage for employees.
- AHPs allow small employers to band together to purchase the types of coverage that are available to large employers, which can be less expensive and better tailored to the needs of their employees.
- The rule allows more employer groups and associations to form AHPs, based on common geography or industry.
- An AHP could offer coverage to some or all employers in a state, city, county, or a multi-state metro area, or it could offer coverage to businesses in a trade or industry group nationwide.
Stay tuned for more video about AHA plans. I look forward to keeping you updated on AHA plans because they are an exciting idea for business and business owners.
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Thank you for watching and have a great day!
The Department of Labor published a final rule on June 21, 2018 creating flexibilities for employers and working owners to band together to sponsor a single Association Health Plan (AHP). The final rule allows multiple employers to jointly sponsor a single group health plan by expanding ERISA’s definition of “employer.” An AHP may provide coverage to the owners and employees of participating employers and their families.
This can be an exciting new option for you or your small business. Contact Cosmo for more details! 732-363-3888.
CONTACT COSMO FOR MORE DETAILS
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