Affordable Care Act News
Basic ACA Information
Beginning January 1, 2015 under the Affordable Care Act, employers with more than 50 full-time employees and/or a combination of 50 full- time equivalents will be mandated to provide affordable healthcare coverage to all employees working 30-plus hours per week (Employer Shared Responsibility Provisions).
Employers who employ fewer than 50 full-time or full-time equivalents will not be subject to the Employer Shared Responsibility provisions.
Employers will determine each year, based on their current number of employees, whether they will be considered a large employer for the next calendar year. For example, if an employer has at least 50 full-time employees, (including full-time equivalents) for 2014, it will be considered a large employer for 2015. There is a 3-12 month look-back period to determine the number of full time employees or full-time equivalents.
This means that for 2014, employers with 50 or more full-time equivalent employees will not be subject to a penalty if they do not offer health insurance to their employees, or if they do offer insurance and it fails to meet the affordability and minimum value standards. Also for 2014 the employers reporting requirements relating to the health insurance that an employer offers will be voluntary until 2015.
AFLAC has put together a complete tool kit to help employers
communicate all this information to their employees.
Employer ACA Resources
Our Affiliate AFLAC has created extensive training materials to help you understand what you need to do to comply with the Affordable Care Act requirements. We have created a few links to the AFLAC resources that have been helpful to our clients.
Complete Employers Guide to Health Care Reform:
On Oct. 1st 2013 the first ACA employer responsibility was implemented, which was to communicate information to current employees and new hires about the new Health Insurance Marketplace.
Follow the link below to find all the information you need and letter templates you can issue to your employees:
With all the Healthcare Reform going into effect, this is a great time to make some company wide health insurance changes.
AFLAC has provided a great checklist tool for companies to use, just choose the checklist that fits your employee count:
This material is intended to provide information about an evolving topic and does not constitute legal, tax or accounting advice regarding any specific situation. We at Eagle Payroll Service Inc. encourage our clients to seek the advice of their legal or tax advisers or accountants in regards to specific situations and to regularly visit www.healthcare.gov
for additional information.