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Health Care Reform – What Employers Should Do

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The payment mandate for the Affordable Care Act will not take place on January 1, 2014. Nevertheless, individuals are still required to pay for insurance or face paying a penalty. They might, however, be able to get some tax credits available from the exchanges at the beginning of the new year. Employers, however, need to make sure they comply with all of the other requirements that weren’t delayed. Smaller organizations need to make sure they are under the threshold of 50 employees. This can be complex, depending on if they might be considered under control by another company. They need to decide how to implement their plan for compliance in 2015. Determining the pay status of each employee, i.e. whether they are full-time or part time, is another important detail. Deciding whether the company should use a safe harbor provision to measure full-time status is another consideration. Fortunately, the act’s provisions were delayed, which is giving businesses more time to decide how to implement the requirements for the ACA. This doesn’t give them the excuse to delay themselves, which will only lead to reporting issues in the future. There are other aspects to the ACA besides the pay-to-play provision, and those have to be taken care of promptly.

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Health Care Reform - What Employers Should Do by
Authored by: Harrison Barnes