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How Health Care Reform Affects Franchises With Under 50 Employees

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Learn how the US Affordable Care Act affects your franchise with under 50 employees. Whether you are a franchisee or franchisor, start planning today to avoid costly mistakes!

Learn how the US Affordable Care Act affects your franchise with under 50 employees. Whether you are a franchisee or franchisor, start planning today to avoid costly mistakes!

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  • 1. Under 50 EmployeesFranchise Owners How Does Health Care ReformAffect Your Franchise? Presented by: Elevate Franchise Success with Strategic Human Resource Solutions © October 2012 Franchise Workforce
  • 2. How to Prepare Review each profile Find your current situation Get advice from HR & benefits experts Develop an action plan and start Elevate Franchise Success with Strategic Human Resource Solutions
  • 3. Sparkling Fresh MaidsProfile Small franchise with under 25 employees Franchise owner does not provide medical coverage Average annual employee wages $20,000 Elevate Franchise Success with Strategic Human Resource Solutions
  • 4. Sparkling Fresh MaidsImpacts Franchise owner is exempt from penalties. Franchise owner cannot qualify for a tax credit. Franchise employees may qualify for subsidy based on income. Most low-wage franchise employees will be eligible for a subsidy to buy health coverage from the state exchanges. Elevate Franchise Success with Strategic Human Resource Solutions
  • 5. Kid Kare CenterProfile Small franchise with under 25 employees Franchise owner does offer group medical coverage Average annual employee wages $25,000 Elevate Franchise Success with Strategic Human Resource Solutions
  • 6. Kid Kare CenterImpacts Franchise owner is exempt from penalties. Franchise owner will qualify for a tax credit:  For providing qualified coverage, and  A minimum of 60% of the individual premium is contributed by the franchise owner. Franchise employer contributions are tax- deductible on amounts exceeding the tax credit received. Franchise employee contributions can be pretax under a Section 125 plan. Elevate Franchise Success with Strategic Human Resource Solutions
  • 7. Zeus Auto RepairProfile Small franchise with under 25 employees Franchise owner does not provide medical coverage Average annual employee wages $52,000 Elevate Franchise Success with Strategic Human Resource Solutions
  • 8. Zeus Auto RepairImpacts Franchise owner is exempt from penalties. Franchise owner cannot qualify for a tax credit. Franchise employees can purchase medical coverage through the state exchanges. Eligible franchise employees may qualify for subsidies based upon income. Elevate Franchise Success with Strategic Human Resource Solutions
  • 9. My Dental FranchiseProfile Small franchise with under 25 employees Franchise owner does offer group medical coverage Average annual employee salary $52,000 Elevate Franchise Success with Strategic Human Resource Solutions
  • 10. My Dental FranchiseImpacts Franchise owner is exempt from penalties. Franchise owner cannot qualify for tax credits. Franchise owner’s contributions to employee premiums are tax-deductible. Franchise employee contributions can be pretax under a Section 125 plan. Elevate Franchise Success with Strategic Human Resource Solutions
  • 11. Franchise Help Center Customized HR Outsourcing Strategies Employee Benefits / Risk Management Human Resources Compliance Expertise Integrated HR & Recruiting Technology Call 561-600-5554 or franchiseworkforce.com Follow the Franchise Workforce library: www.slideshare.net/franchiseworkforce Elevate Franchise Success with Strategic Human Resource Solutions
  • 12. Important Guidelines contained herein are subject to change as the rules under the U.S. Affordable Care Act change. (Certain provisions effective 1- 01- 2014) Franchise Workforce suggests that you consult your tax advisor regarding your specific tax issues. Rules and testing apply to Part-Time and Seasonal Employees; consult your advisor for details. Information is current as of October 2012. For the most current guidelines, visit www.healthcare.gov or www.irs.gov. Elevate Franchise Success with Strategic Human Resource Solutions