GRA Special Session: Health Care Reform
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The Georgia Restaurant Association Presents Special Session: Health Care Reform June 7, 2010, 2-4:30 pm Where: Hotel Palomar Atlanta Midtown 866 West Peachtree Street NW Atlanta, GA 30308 Speakers: - Kat Cole, Hooters of America, Inc. - Patrick Cuccaro, Affairs to Remember Caterers - Debi Elkins, AFC Enterprises - Michael Rummel, Tappan Street Restaurant Group - Kelvin Slater, Blue Moon Pizza Free to GRA & ACF Restaurant Members in Good Standing
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GRA Special Session: Health Care Reform
- 1. Welcome to the Georgia Restaurant Association Healthcare Special Session: What You Need To Know June 7, 2010
- 3. Thank You To Our Meeting Host Recently named one of Esquire’s “Best New Restaurants of 2009,” Pacci Ristorante is the modern translation of the classic Italian steakhouse. Pacci combines the flavors and timeless elegance of Old World Italy with the urban lifestyle of Midtown Atlanta. Executive Chef Keira Moritz’s signature menu includes the use of fresh and seasonal ingredients in each dish. This restaurant truly reflects a warm sense of Italian conviviality, offering Atlantans fine food for every meal of the day, and meals for every occasion. Pacci also features a stylish rooftop bar and lounge area called AltoRex Rooftop Lounge.
- 4. Thank You To Our Sponsors Since 1868, J. Smith Lanier & Co. has remained one of the nation’s leading insurance brokerage, employee benefits and risk management consulting firms. Through a network of offices spanning across five southeastern states, our employee shareholders provide an unmatched commitment and responsiveness to everyone we serve.
- 5. Thank You To Our Sponsors UnitedHealthcare (www.unitedhealthcare.com) provides a full spectrum of consumer-oriented health benefit plans and services. The company organizes access to quality, affordable health care services on behalf of more than 25 million individual consumers, contracting directly with more than 560,000 physicians and care professionals and 4,800 hospitals nationwide to offer them broad, convenient access to services nationwide.
- 13. What Does The Law Require?
- 30. Next Steps: - Prioritize activities based on the little concrete information you have now with a focus on 2011 and 2012 - Keep these changes in mind as you plan and work with payroll companies, computer support systems and set up business plans - Stay tuned into/logged onto www.garestaurants.org for updates and stay connected with peers in the industry in GA
- 31. What’s Being Done for You: - NRA & GRA continuing advocacy through regulatory process at state and national level - NRA partnering with nations largest Health Services Company, United Healthcare - Developing products for individuals, small groups, large groups, specialty lines, TPA services For more information, visit www.restauranthealthcare.org www.garestaurants.org
- 34. Upcoming Workshop: Menu Labeling When: June 29, 2010 from 2-4pm Where: Taco Mac Prado Speakers: -Charles Hoff, Law Office of Charles Y. Hoff -Amanda Rieter, NRA State Strategy & Policy -Lucy Needham, CEO FoodCALC® Free to GRA Restaurant Members, RSVP to Kaitlin Follrath at [email_address] or 404.467.9000.
- 39. Thank You For Attending the Georgia Restaurant Association Healthcare Special Session: What You Need To Know June 7, 2010
Editor's Notes
- What we are presenting here today is the best information we know as of right now. As guidance and regulations are developed over the next several years and beyond, more details will become known. Think of the bill that passed as the outline, and the regulatory process as filling in all the details. But we know you don’t have the luxury of the years it will take to develop the regulations and you need to start thinking about how this will impact your business now. Which is why we are here talking about this new law today. What we will present today is meant to give you a general understanding of what is in this massive new law and how it could impact your businesses. Nothing we say here today should be considered legal or financial guidance or advice.
- Regardless of whether the employer requirements for coverage or liability for penalties applies to you, there are things that every employer needs to know. Grandfathered plan: We expect guidance from HHS very soon. (i.e. how to maintain status, what you can change in the plan without loosing status) Exchange: This is where individuals can use premium tax credits (subsidies) to access minimum essential coverage. Small businesses will also be able to buy coverage for their employees there as well. 1099 Reporting : we Expect IRS to issue guidance in this area soon.
- Here are some introductory questions that should help you as you think about how this massive new law will apply to you. We’ll refer back to these questions as we work through the requirements of the bill.
- Common Control is an existing concept in the tax code that has been used in other areas of the business (like overtime). Rules for determining Common Control are very intricate and technical. Those with multiple restaurant organizations should consult their tax advisor to determine if they would be considered a single employer. Even if the ownership requirement is satisfied, based on the other rules an employer may single not be a single employer. Generalized examples: If single restaurateur owns 100% of 3 S-corps, for purposes of the new law, the 3 S-corps would be treated as a single employer. If restaurateur 1 and 2 own 90% of Partnership A and 50% of Corporation B, restaurant organizations A and B would not be considered a single employer. If restaurateur 1 and 2 own 90% of Partnership A and 80% of Corporation B, restaurant organizations A and B would be considered a single employer.
- How many… Full-time? Part-time? Seasonal Full-time? Seasonal Part-time?
- Here is the formula to use in determining if you fall above or below the 50 full-time equivalent threshold. Part-time workers aggregate hours count towards the number of full-time equivalents (the 50 threshold). Employers are NOT required to provide health coverage or pay penalties for any part-time employees. Seasonal workers (full and part) are not included in this threshold calculation – BUT if they work more than 30 hours for you, you must offer coverage or may be liable for a penalty (because they are full-time).
- If you are under the small business threshold of 50 full-time equivalents and meet these requirements, this tax credit may be available to you… PLEASE NOTE that this full-time equivalent is based on 40 hours per week…
- So what does the law require of you if you are determined to be a large employer with more than 50 full-time equivalents? Offer – not provide coverage Affordable – employee contribution must be less than 9.5% of household income Minimum essential coverage – yet to be fully defined by regulations (Actuarial value does not refer to premiums) (An average employer plan you might have for yourself today is probably around 65% actuarial value and about $300 per month)
- These penalties are applied only if on full-time employee accesses the exchange using a premium tax credit or subsidy. If they do not but you still are not providing coverage, the employer is not subject to the penalty. $2000 annual or $167 monthly $3000 annual or $250 monthly
- Individual mandate: Penalty is the greater of $695 per calendar year (2016) OR up to 2.5% of income.