The Wall Street Journal first reported on the concept of “bare-bones” or “skinny plans” in May of this year (2013) - http://online.wsj.com/article/SB10001424127887324787004578493274030598186.html.
Then just this week (August 25, 2013), Kaiser Health News (KHN) published a story on the idea - http://www.kaiserhealthnews.org/Stories/2013/August/26/bare-bones-health-insurance-health-law.aspx .
And since I have suggested the strategy to two of our clients to date (and mentioned it to untold numbers of colleagues and prospective clients), I thought I would make it the focus of this week’s blog post. Depending on the employer, the particular situation, or the industry, this strategy has the potential of saving affected employers thousands of dollars per year in associated ACA penalties. This strategy is better suited for certain employers than others; for example, employers with high numbers of employees that traditionally don't elect health insurance coverage. Or from an industry standpoint, think restaurants, staffing companies, nursing homes, hotels, just to name a few. So, here goes…
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