Final answer:
The option to renew a small employer health plan lies with the employer, who makes an annual decision on whether to continue the same plan or choose a new one, based on various factors including costs and coverage options.
Step-by-step explanation:
Under the Patient Protection and Affordable Care Act (Affordable Care Act or ACA), the option to renew a small employer health plan primarily resides with the employer, if they are offering such a plan to their employees. The employer mandate of the ACA stipulates that employers with more than 50 full-time employees must provide health insurance; whereas, many small companies are exempt from this mandate but can choose to offer insurance if they wish. Health insurance through the workplace allows for a mix of individuals within the insurance pool, helping to balance the risk for insurance firms.
When it comes to renewing a plan, the employer reviews their options annually and decides whether or not to continue offering the same health plan or select a new one. Small employers have the flexibility of working with insurance brokers or directly with insurance companies to find the right match for their organisation and employees. Through this process, the employer must weigh the costs, coverage options, and benefits to make a value-driven decision for their workforce.