Acqusition / Insurance for new employees
We are acquiring a new business in an asset only purchase within the next 30 days. This is new territory for us and I have called our health care rep, but of course I never get called back in a timely manner........I am kicking myself for not thinking about this sooner........Once we take over this business they are going to be a totally new company. We are setting it up under a separate EIN number and it will be a separate LLC. So, my question is this, can we just add these new employees to our existing health care coverage (we are essentially "managing" this business for a fee, kind of as a broker) and bill their company for their share of the premiums, or do I need to set up a separate health care plan for them. I really REALLY hate to go down that road because we just won't get as good a quote and will have to get them on either a HSA or a high deductible plan versus the HMO/PPO dual option plan we have now..........Has anyone else gone through this before? I am worried that if we just add them to our health care plan there are going to be problems regarding taxes, profit and loss, etc.........Any ideas?