While the new health care reform law does not require employers to provide employee health benefits, the law does impose penalties and offers incentives to encourage employer participation. Beginning in 2014, employers with 50 or more full-time employees that do not offer health insurance may have to pay a monthly fee per full-time employee. Employers who do offer coverage may be assessed a fee if any full-time employee receives a premium tax credit. The law also establishes state-run health insurance exchanges and encourages wellness programs.
The document discusses how the Affordable Care Act (ACA) will affect small businesses and their employees. It notes that smaller businesses are less likely than larger ones to offer health insurance. It explains that under the ACA, small businesses can keep existing "grandfathered" plans, but new requirements will apply to other plans. New plans purchased by small businesses must guarantee coverage regardless of health status, cover essential benefits, and meet other standards. The ACA also creates insurance exchanges for small businesses to purchase coverage more easily and provides tax credits to help cover costs. However, some small employers may face penalties if they do not offer affordable coverage.
- Employers must consider new options for offering health insurance under the Affordable Care Act, including offering a plan, not offering but paying penalties, or sending employees to the insurance exchanges.
- For small employers, tax credits may help offset plan costs but expire after two years. Larger employers not offering a qualified plan may pay fines of $2000 per employee if any employees receive subsidies.
- Plans offered must meet requirements like essential benefits to exempt employees from penalties, but some employees may still qualify for exchange subsidies. Costs of offering a plan versus penalties must be weighed.
- Self-insuring allows employers more flexibility but comes with new reporting rules. Sending employees to exchanges is another option starting in
Please find attached our 4th Quarter Benefits Bulletin. Highlights include updates on Pay or Play Penalties and an overview of what\'s next now that the election is over.
In this issue, new SFE&G partner Theresa Borzelli and guest co-author Mary B. Anderson of ERISAdiagnostics Inc. discuss the timely issue of shared responsibility regarding health coverage (Pay or Play). Mychelle Holloway explains why your record keeper requests certain information from the plan sponsor. Also read about SES' recent promotions and new hires
Staffscapes, Inc. is a Human Resources Outsourcing firm that specializes in HR, Payroll & Benefits. We recently presented this slide show to a group of Colorado Small Business Owners and Managers and are sharing it with the general public today.
In early July, the Department of Treasury announced it is delaying a key mandate of the Affordable Care Act: what's known as the 'Pay or Play' mandate. While pushing pause on this mandate gives large employers another year to prepare, we strongly advise businesses not to wait to start making strategic decisions. For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Mike James at mjames@fraserlawfirm.com or 517.377.0823. You can also find more information at www.milhealthlaws.com.
Affordable Care Act and Employer Shared ResponsibilityJenny Villier
The document discusses the Employer Shared Responsibility provision under the Affordable Care Act that requires applicable employers to either offer affordable health insurance to employees or pay a penalty. It applies to employers with 50 or more full-time equivalent employees as of 2016, or 100 or more in 2015. Employers must offer coverage to 70% of employees in 2015 or 95% in 2016. If an employer does not comply and an employee receives a premium tax credit, the employer must pay $2,084-$3,126 per full-time employee beyond the thresholds. The penalties are meant to incentivize employers to provide coverage and lower insurance costs.
This document discusses employee benefits offered by hospitals, including benefits that are tax-free or taxed at preferential rates, as well as benefits where tax liability is deferred. It provides an example to calculate the total value of benefits for a hypothetical hospital employee. The total value of benefits for this employee, including payroll tax contributions, retirement plan contributions, paid time off, health care, life insurance and long-term disability, is over $21,000, representing approximately 30% of their total compensation.
The document discusses how the Affordable Care Act (ACA) will affect small businesses and their employees. It notes that smaller businesses are less likely than larger ones to offer health insurance. It explains that under the ACA, small businesses can keep existing "grandfathered" plans, but new requirements will apply to other plans. New plans purchased by small businesses must guarantee coverage regardless of health status, cover essential benefits, and meet other standards. The ACA also creates insurance exchanges for small businesses to purchase coverage more easily and provides tax credits to help cover costs. However, some small employers may face penalties if they do not offer affordable coverage.
- Employers must consider new options for offering health insurance under the Affordable Care Act, including offering a plan, not offering but paying penalties, or sending employees to the insurance exchanges.
- For small employers, tax credits may help offset plan costs but expire after two years. Larger employers not offering a qualified plan may pay fines of $2000 per employee if any employees receive subsidies.
- Plans offered must meet requirements like essential benefits to exempt employees from penalties, but some employees may still qualify for exchange subsidies. Costs of offering a plan versus penalties must be weighed.
- Self-insuring allows employers more flexibility but comes with new reporting rules. Sending employees to exchanges is another option starting in
Please find attached our 4th Quarter Benefits Bulletin. Highlights include updates on Pay or Play Penalties and an overview of what\'s next now that the election is over.
In this issue, new SFE&G partner Theresa Borzelli and guest co-author Mary B. Anderson of ERISAdiagnostics Inc. discuss the timely issue of shared responsibility regarding health coverage (Pay or Play). Mychelle Holloway explains why your record keeper requests certain information from the plan sponsor. Also read about SES' recent promotions and new hires
Staffscapes, Inc. is a Human Resources Outsourcing firm that specializes in HR, Payroll & Benefits. We recently presented this slide show to a group of Colorado Small Business Owners and Managers and are sharing it with the general public today.
In early July, the Department of Treasury announced it is delaying a key mandate of the Affordable Care Act: what's known as the 'Pay or Play' mandate. While pushing pause on this mandate gives large employers another year to prepare, we strongly advise businesses not to wait to start making strategic decisions. For more information, contact Fraser Trebilcock Senior Health Care and Business Attorney Mike James at mjames@fraserlawfirm.com or 517.377.0823. You can also find more information at www.milhealthlaws.com.
Affordable Care Act and Employer Shared ResponsibilityJenny Villier
The document discusses the Employer Shared Responsibility provision under the Affordable Care Act that requires applicable employers to either offer affordable health insurance to employees or pay a penalty. It applies to employers with 50 or more full-time equivalent employees as of 2016, or 100 or more in 2015. Employers must offer coverage to 70% of employees in 2015 or 95% in 2016. If an employer does not comply and an employee receives a premium tax credit, the employer must pay $2,084-$3,126 per full-time employee beyond the thresholds. The penalties are meant to incentivize employers to provide coverage and lower insurance costs.
This document discusses employee benefits offered by hospitals, including benefits that are tax-free or taxed at preferential rates, as well as benefits where tax liability is deferred. It provides an example to calculate the total value of benefits for a hypothetical hospital employee. The total value of benefits for this employee, including payroll tax contributions, retirement plan contributions, paid time off, health care, life insurance and long-term disability, is over $21,000, representing approximately 30% of their total compensation.
The document provides a year-by-year breakdown of key provisions of the Patient Protection and Affordable Care Act (PPACA) from 2010 to 2018. It details changes such as tax credits for small businesses, dependent coverage requirements, pre-existing condition provisions, and penalties for large employers if employees receive subsidies. The summary focuses on how the reforms impact employer-sponsored health plans and what businesses need to do to comply with PPACA in each year.
In less than one year, major provisions of the Patient Protection and Affordable Care Act are taking effect at state and federal levels, and many of those new provisions will directly impact businesses around the country. At this event, we’ll present fact-based, non-partisan information that’s important to Colorado business leaders: the timeline of the law and important dates.
1) The document analyzes and compares the salary slips of two employees, one working in the garment manufacturing industry and the other working as an assistant teacher in education.
2) It finds that the education sector employee receives a higher basic pay but has larger deductions for long-term investments like provident fund and insurance. The marketing executive receives more allowances for expenses but has fewer investment opportunities.
3) In conclusion, the education sector employee has more of their salary invested for the future, while the marketing employee's salary provides more in the short-term through various allowances.
This document provides an overview of healthcare reform for employers, covering several key topics:
1. Marketplaces (Exchanges) and subsidies available for individuals and small groups.
2. Rules for determining if an employer counts as a "large employer" subject to penalties, including how to count full-time equivalent employees and handle variable hour workers.
3. The "pay or play" mandate for large employers over 50 full-time equivalents to provide affordable coverage or face penalties.
4. Price changes to health plans from new taxes, fees, and mandates imposed by the Affordable Care Act.
Employee Benefits in the Obamacare World & How to Maximize Its ImpactJoseph Appelbaum
Are you struggling to understand Obamacare and how it impacts your company? Do you want to learn about how to use employee benefits as a recruitment and retention tool?
This presentation will provide valuable insight into employee benefits in the Obamacare world and how to maximize its impact. Under Obamacare, employers are offered the option to "pay or play." But, for most companies there is no choice—they must “play” in order to recruit and retain employees. This not only includes offering health insurance but also life, disability, and the whole spectrum of employee benefits.
Here you'll learn about the impact of Obamacare on the employee benefits mix and employer decision-making process, along with understanding the importance of insurance benefits as a mandatory piece of the total compensation puzzle.
The Affordable Care Act: Update on the Employer Mandate Final RuleINGUARD
INGUARD Benefits Division presentation on the Affordable Care Act final rules, how they affect group benefits, and the responsibilities of employers in the coming years. Includes best practices for updating your employee benefits and how to stay in compliance with the ACA regulations.
The recently enacted federal healthcare legislation will affect virtually everyone and will mean significant changes for patients, insurers, employers, hospitals and physicians. This is one of the largest changes to the tax laws in the past 30 years. Are you interested in finding out how the Reform will affect you or your business? We want to help. We are offering presentations to businesses and groups to provide information on how the Reform may impact you.
For more information visit our website at www.kl-cpa.com.
The Affordable Care Act (ACA) impacts small businesses in North Carolina in several key ways:
1) Starting in 2014, the ACA requires each state to establish a Small Business Health Options Program (SHOP) Exchange to allow small businesses to purchase insurance.
2) Beginning in 2010, the ACA provided tax credits to small businesses that offer health insurance to help offset premium costs.
3) Starting in 2014, employers with over 50 employees must provide health insurance or pay a penalty.
This document discusses key aspects of the 2010 health care reform legislation, including:
- The two acts that comprise the reform and their goals of expanding coverage and reducing costs.
- Provisions that expand Medicaid eligibility and the number of insured individuals.
- Requirements for qualified health plans being offered on state exchanges beginning in 2014.
- Penalties for individuals and large employers regarding mandatory coverage and requirements to offer affordable plans.
Employer coverage and the era of exchangesagavrilescu
The document summarizes key provisions of the Affordable Care Act that impact employers and their decisions around offering health insurance. It discusses the employer mandate requiring firms with over 50 employees to offer affordable coverage or face penalties, and notes that while the mandate was delayed until 2015, other ACA requirements like the individual mandate and health insurance exchanges take effect in 2014. The summary examines factors that may influence employer decisions around offering coverage, such as reducing workforce size, limiting hours, lowering premium contributions, and dropping coverage for early retirees to mitigate costs under the new rules.
Health Care Reform Strategies for Small Employers:
• Health Care Tax Credits and Penalties
• The Recently Delayed Pay or Play Mandate
• Health Insurance Exchanges
• SHOPs
• Other Cost-Savings Opportunities
• Strategic Decision Making for Large and Small Employers
• And more!
An open enrollment checklist, created by eHealthInsurance, to help employees find the best personal health insurance solution for the 2012 benefit year - via http://www.eHealthInsurance.com
Temporary Employees and the Employer Mandatebenefitexpress
This presentation reviews - when temporary employees become your employees, the factors the government uses to determine employment status, the steps you can take to avoid these employees becoming your employees, and consequences under Health Care Reform if it is determined that they are your employees.
The document discusses employee benefits trends in India. It notes that India has a large and diverse population. Mandatory benefits include provident fund, gratuity, and personal accident insurance. Voluntary benefits include mediclaim, life insurance, and superannuation. Insurance companies offer various products for retirement benefits like defined contribution plans and defined benefit plans. Common retirement benefits provided by employers include leave encashment, gratuity, and superannuation. Trends show life insurance participation and defined contribution plans increasing among employers and employees in India.
The document summarizes key provisions of the Affordable Care Act that will impact employers in 2013 and beyond. It outlines requirements around counting employees, defining small and large groups, waiting periods, health insurance exchanges, employer tax credits, and affordability standards. It also provides an overview of the Summary of Benefits and Coverage documents employers must provide employees and auto-enrollment provisions for larger companies.
1. Employers with 50 or more full-time employees face new requirements under the Affordable Care Act in 2014, including providing affordable health insurance or paying penalties.
2. Key deadlines and provisions for employers in 2013 include a $2,500 limit on health care flexible spending accounts, paying a comparative effectiveness fee, and notifying employees about health insurance exchanges.
3. In 2014, employers must ensure any health plans meet requirements around affordability, adequate coverage, and automatic enrollment of new employees within 90 days of hire. Failure to comply could result in tax penalties.
Presentation on the Patient Protection Affordable Health Care Act given to Independent NAPA Auto Care Center Owners at the Detroit Area Conference on September 14, 2013 by Gary Wheeler
The document discusses various components of employee benefits including core compensation like salary, allowances, and bonuses. It describes legally required benefits such as social security programs and family leave. Discretionary benefits are also outlined and include health insurance, retirement plans, paid time off, tuition reimbursement, and employee assistance programs. Specific benefits commonly offered in India are then detailed such as provident funds, gratuity, life and medical insurance, leave encashment, and superannuation plans. The trends in retirement benefits moving from defined benefit to defined contribution plans are also summarized.
Checklist and decisions for employers facing healthcare lawjchrishodge
The document provides an overview of key provisions and deadlines employers need to be aware of under the Affordable Care Act. It outlines requirements in 2011-2014, including coverage of adult children up to age 26, prohibitions on pre-existing condition exclusions and lifetime limits. It also details the employer mandate beginning in 2014, penalties for non-compliance, and considerations for maintaining or starting to provide group health coverage. Employers are advised to carefully analyze their specific situations and run the numbers to determine the most cost-effective approach.
The document provides a year-by-year breakdown of key provisions of the Patient Protection and Affordable Care Act (PPACA) from 2010 to 2018. It details changes such as tax credits for small businesses, dependent coverage requirements, pre-existing condition provisions, and penalties for large employers if employees receive subsidies. The summary focuses on how the reforms impact employer-sponsored health plans and what businesses need to do to comply with PPACA in each year.
In less than one year, major provisions of the Patient Protection and Affordable Care Act are taking effect at state and federal levels, and many of those new provisions will directly impact businesses around the country. At this event, we’ll present fact-based, non-partisan information that’s important to Colorado business leaders: the timeline of the law and important dates.
1) The document analyzes and compares the salary slips of two employees, one working in the garment manufacturing industry and the other working as an assistant teacher in education.
2) It finds that the education sector employee receives a higher basic pay but has larger deductions for long-term investments like provident fund and insurance. The marketing executive receives more allowances for expenses but has fewer investment opportunities.
3) In conclusion, the education sector employee has more of their salary invested for the future, while the marketing employee's salary provides more in the short-term through various allowances.
This document provides an overview of healthcare reform for employers, covering several key topics:
1. Marketplaces (Exchanges) and subsidies available for individuals and small groups.
2. Rules for determining if an employer counts as a "large employer" subject to penalties, including how to count full-time equivalent employees and handle variable hour workers.
3. The "pay or play" mandate for large employers over 50 full-time equivalents to provide affordable coverage or face penalties.
4. Price changes to health plans from new taxes, fees, and mandates imposed by the Affordable Care Act.
Employee Benefits in the Obamacare World & How to Maximize Its ImpactJoseph Appelbaum
Are you struggling to understand Obamacare and how it impacts your company? Do you want to learn about how to use employee benefits as a recruitment and retention tool?
This presentation will provide valuable insight into employee benefits in the Obamacare world and how to maximize its impact. Under Obamacare, employers are offered the option to "pay or play." But, for most companies there is no choice—they must “play” in order to recruit and retain employees. This not only includes offering health insurance but also life, disability, and the whole spectrum of employee benefits.
Here you'll learn about the impact of Obamacare on the employee benefits mix and employer decision-making process, along with understanding the importance of insurance benefits as a mandatory piece of the total compensation puzzle.
The Affordable Care Act: Update on the Employer Mandate Final RuleINGUARD
INGUARD Benefits Division presentation on the Affordable Care Act final rules, how they affect group benefits, and the responsibilities of employers in the coming years. Includes best practices for updating your employee benefits and how to stay in compliance with the ACA regulations.
The recently enacted federal healthcare legislation will affect virtually everyone and will mean significant changes for patients, insurers, employers, hospitals and physicians. This is one of the largest changes to the tax laws in the past 30 years. Are you interested in finding out how the Reform will affect you or your business? We want to help. We are offering presentations to businesses and groups to provide information on how the Reform may impact you.
For more information visit our website at www.kl-cpa.com.
The Affordable Care Act (ACA) impacts small businesses in North Carolina in several key ways:
1) Starting in 2014, the ACA requires each state to establish a Small Business Health Options Program (SHOP) Exchange to allow small businesses to purchase insurance.
2) Beginning in 2010, the ACA provided tax credits to small businesses that offer health insurance to help offset premium costs.
3) Starting in 2014, employers with over 50 employees must provide health insurance or pay a penalty.
This document discusses key aspects of the 2010 health care reform legislation, including:
- The two acts that comprise the reform and their goals of expanding coverage and reducing costs.
- Provisions that expand Medicaid eligibility and the number of insured individuals.
- Requirements for qualified health plans being offered on state exchanges beginning in 2014.
- Penalties for individuals and large employers regarding mandatory coverage and requirements to offer affordable plans.
Employer coverage and the era of exchangesagavrilescu
The document summarizes key provisions of the Affordable Care Act that impact employers and their decisions around offering health insurance. It discusses the employer mandate requiring firms with over 50 employees to offer affordable coverage or face penalties, and notes that while the mandate was delayed until 2015, other ACA requirements like the individual mandate and health insurance exchanges take effect in 2014. The summary examines factors that may influence employer decisions around offering coverage, such as reducing workforce size, limiting hours, lowering premium contributions, and dropping coverage for early retirees to mitigate costs under the new rules.
Health Care Reform Strategies for Small Employers:
• Health Care Tax Credits and Penalties
• The Recently Delayed Pay or Play Mandate
• Health Insurance Exchanges
• SHOPs
• Other Cost-Savings Opportunities
• Strategic Decision Making for Large and Small Employers
• And more!
An open enrollment checklist, created by eHealthInsurance, to help employees find the best personal health insurance solution for the 2012 benefit year - via http://www.eHealthInsurance.com
Temporary Employees and the Employer Mandatebenefitexpress
This presentation reviews - when temporary employees become your employees, the factors the government uses to determine employment status, the steps you can take to avoid these employees becoming your employees, and consequences under Health Care Reform if it is determined that they are your employees.
The document discusses employee benefits trends in India. It notes that India has a large and diverse population. Mandatory benefits include provident fund, gratuity, and personal accident insurance. Voluntary benefits include mediclaim, life insurance, and superannuation. Insurance companies offer various products for retirement benefits like defined contribution plans and defined benefit plans. Common retirement benefits provided by employers include leave encashment, gratuity, and superannuation. Trends show life insurance participation and defined contribution plans increasing among employers and employees in India.
The document summarizes key provisions of the Affordable Care Act that will impact employers in 2013 and beyond. It outlines requirements around counting employees, defining small and large groups, waiting periods, health insurance exchanges, employer tax credits, and affordability standards. It also provides an overview of the Summary of Benefits and Coverage documents employers must provide employees and auto-enrollment provisions for larger companies.
1. Employers with 50 or more full-time employees face new requirements under the Affordable Care Act in 2014, including providing affordable health insurance or paying penalties.
2. Key deadlines and provisions for employers in 2013 include a $2,500 limit on health care flexible spending accounts, paying a comparative effectiveness fee, and notifying employees about health insurance exchanges.
3. In 2014, employers must ensure any health plans meet requirements around affordability, adequate coverage, and automatic enrollment of new employees within 90 days of hire. Failure to comply could result in tax penalties.
Presentation on the Patient Protection Affordable Health Care Act given to Independent NAPA Auto Care Center Owners at the Detroit Area Conference on September 14, 2013 by Gary Wheeler
The document discusses various components of employee benefits including core compensation like salary, allowances, and bonuses. It describes legally required benefits such as social security programs and family leave. Discretionary benefits are also outlined and include health insurance, retirement plans, paid time off, tuition reimbursement, and employee assistance programs. Specific benefits commonly offered in India are then detailed such as provident funds, gratuity, life and medical insurance, leave encashment, and superannuation plans. The trends in retirement benefits moving from defined benefit to defined contribution plans are also summarized.
Checklist and decisions for employers facing healthcare lawjchrishodge
The document provides an overview of key provisions and deadlines employers need to be aware of under the Affordable Care Act. It outlines requirements in 2011-2014, including coverage of adult children up to age 26, prohibitions on pre-existing condition exclusions and lifetime limits. It also details the employer mandate beginning in 2014, penalties for non-compliance, and considerations for maintaining or starting to provide group health coverage. Employers are advised to carefully analyze their specific situations and run the numbers to determine the most cost-effective approach.
El documento describe cómo los niños adquieren el lenguaje. Explica que los niños tienen capacidades cognitivas innatas que les permiten distinguir eventos en el mundo y comunicarse sobre ellos. También dice que los adultos ayudan modelando frases y a través de formatos estandarizados de interacción como juegos. Además, señala que la adquisición temprana del lenguaje depende del uso del contexto por parte de la madre y el niño en la creación e interpretación de mensajes.
El documento describe cómo los niños adquieren el lenguaje. Explica que los niños tienen capacidades cognitivas innatas que les permiten distinguir eventos en el mundo y comunicarse sobre ellos. También dice que los adultos ayudan modelando frases y a través de formatos estandarizados de interacción como juegos. Además, señala que la adquisición temprana del lenguaje depende del uso del contexto por parte de la madre y el niño en la creación e interpretación de mensajes.
El autor aprendió el idioma Hñahñu principalmente de sus abuelos, ya que creció con ellos y era su única forma de comunicación, aunque también tomó clases de la lengua dos o tres veces por semana en la escuela primaria, donde aprendió cantos tradicionales como el himno nacional. Ahora en la adultez, el autor está reaprendiendo el idioma de sus abuelos con su ayuda.
Los componentes principales de una conexión a Internet vía telefónica incluyen un proveedor que ofrece acceso a Internet a través de su red, una conexión a la red telefónica básica, un modem interno o externo que conecta la línea telefónica a la computadora para convertir la señal analógica a digital, y una computadora que procesa los datos recibidos y enviados a través de Internet.
We provide personal loans for debt consolidation, bad credit loans, unsecured loans, instant loans for bad credit and secured loans with cheap rates in UK
This document contains questions for audience research about music preferences, including the genre and artists they enjoy, descriptions of a song, and awareness of specific musicians. It asks respondents about their music tastes, opinions on a song, and demographic information like age and gender to understand the target audience for a musical work.
Este documento presenta un análisis técnico del índice S&P 500 del 10 de noviembre de 2011. Muestra gráficos diarios del S&P 500 que representan varias medias móviles simples de 1 a 610 períodos. El análisis sugiere que el mercado seguirá siendo bajista mientras el S&P 500 no supere los 1,300 puntos, con objetivos bajistas de 1,230-1,210 puntos. También explica brevemente cómo se construyeron los gráficos y qué medias móviles
O estado não tem o direito de pagar a uns e não a outros in verbis crealçepr_afsalbergaria
Um juiz explica porque o corte dos subsídios de férias e Natal dos funcionários públicos é ilegal, já que o Estado não pode confiscar o patrimônio dos cidadãos sem seguir os devidos processos legais. Ele também argumenta que o Estado não pode escolher arbitrariamente quais credores pagar e quais não, devendo tratar a todos de forma igualitária.
Atención sanitaria para usuarios inmigrantes en el sspa abusoGrupoIEEI
Autores:
Martínez Cobos, Dolores Maria
Leal Montoya, Miriam
Tamayo Ramírez, Ascensión
Ortega Campos, Elena
Ruiz Góngora, Josefa
Corrales López, Antonio
Crearon el logo de su empresa y agregaron datos personales a la factura. Comenzaron una tabla de valor y producto y agregaron formato con bordes y color a la factura.
El documento describe cómo programar un robot Lego Mindstorms NXT para que reaccione al sensor táctil, cambiando su comportamiento cuando se presiona o suelta el sensor. También menciona modificar la programación existente en el Robot Educator para usar el sensor táctil de la forma deseada.
Learn about how your SEC registered company can address key aspects of the Affordable Care Act and about upcoming deadlines for 2014 and beyond - Peterson Sullivan - Seattle CPA Firm.
This document provides an overview and update on upcoming health care reform provisions taking effect in 2014. Key points include:
- Beginning in 2014, employer-sponsored plans must limit waiting periods to 90 days and annual out-of-pocket costs. Essential health benefits must also be covered.
- Health insurance exchanges will be available for individuals and small businesses to purchase coverage. Employers with 50+ employees face potential penalties if not offering affordable coverage.
- Annual limits and preexisting condition exclusions will be prohibited. Premium subsidies and an individual mandate also take effect. Small business tax credits are available.
- Wellness program incentives are increasing. Expanded Medicaid coverage was ruled unconstitutional but other provisions remain on track for 2014 implementation
This document provides an overview and summary of key provisions of the Patient Protection and Affordable Care Act (PPACA) and the Health Care and Education Reconciliation Act (HCERA). It discusses fundamentals such as definitions of large employers, full-time employees, and grandfathered plans. It also summarizes requirements for health insurance exchanges, essential health benefits, employer penalties, the small business tax credit, early retiree subsidy, and coverage mandates for grandfathered and non-grandfathered plans. The document is intended to help attendees understand and comply with health care reform regulations.
This document provides a timeline and overview of key provisions and deadlines established by the Patient Protection and Affordable Care Act (ACA). Some of the major provisions that took effect from 2010-2018 include requiring insurance plans to cover dependents up to age 26, prohibiting denial of coverage due to pre-existing conditions, establishing health insurance exchanges, expanding Medicaid eligibility, and implementing individual and employer mandates. The timeline highlights how various insurance market reforms, taxes, and penalties were phased in over this period to increase access to health insurance coverage.
This document provides a timeline and overview of key provisions in the Patient Protection and Affordable Care Act (ACA). It outlines the legislative timeline from when the House and Senate passed versions of health care reform in 2009-2010 to when President Obama signed the bill into law. It then summarizes major ACA provisions being implemented from 2010 through 2018 and beyond, including requirements for insurance plans, the establishment of health insurance exchanges, Medicaid expansion, and individual/employer mandates. The document concludes by discussing how the ACA is paid for through various new taxes and fees and its projected impact on the private health insurance marketplace.
The Patient Protection and Affordable Care Act (PPACA) timeline outlines key provisions and their implementation dates between 2010-2018. Major provisions include prohibiting pre-existing condition exclusions (2010), expanding dependent coverage to age 26 (2010), establishing state-based health insurance exchanges (2014), an individual mandate to purchase insurance (2014), an employer mandate for firms with 50+ employees (2015), and a tax on high-cost "Cadillac" plans (2018). The timeline provides an overview of how PPACA rolls out major health insurance reforms over an 8 year period.
Understanding Health Care Reform: A Dose of Accounting MedecineJames Moore & Co
The affordable Care Act was signed into law on March 23, 2010 and upheld by the Supreme Court in June 2012. These reform measures will have wide-spread impacts to most businesses and individuals. In this presentation, we discuss the tax consequences, small business health care credits, fees, and provide a summary of the Affordable Care Act and the status of reform.
Update: Employer Responsibilities Under the Affordable Care ActPatton Boggs LLP
This document summarizes employer responsibilities under the Affordable Care Act that take effect in January 2015. It outlines key timelines employers should be aware of, including penalties for employers with 50 or more full-time employees in 2016. It provides guidance on determining if a company qualifies as a large employer based on number of full-time equivalent employees. It also discusses options for employers who are subject to penalties, such as providing affordable health insurance or paying penalties.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
Affordable Care Act (ACA) Commonly Used TerminologyInfinisource
The Affordable Care Act and its terminology are overwhelming - where does one begin to understand it all? We’ve compiled a glossary of ACA terminology to help you through the maze.
Administaff has been monitoring health care reform regulations since 2010 to ensure their group health plans and payroll services remain compliant for clients. The document outlines key changes taking effect through 2018 that will impact employers and health plans. Administaff commits to making necessary changes to their plans, providing required notices and reports to clients and employees, and handling new compliance obligations to allow clients to focus on running their businesses without worrying about health care reform impacts and requirements.
The document provides an overview of key provisions of the Affordable Care Act (ACA) for employers, including requirements for large employers to offer affordable minimum essential health coverage. It defines terms like full-time employees, dependents, minimum essential coverage, affordability, minimum value, and outlines penalties for noncompliance. It advises employers to assess their status as a large employer based on employee headcount, identify which employees must be offered coverage, ensure coverage meets affordability and minimum value standards, and consider actions needed like amending cafeteria plans to prepare for 2014 requirements.
The document discusses the new reporting requirements under the Affordable Care Act for applicable large employers - those with 50 or more full-time employees. It states that these employers must now track employee health coverage information monthly and report it to the IRS on Forms 1094-C and 1095-C starting in 2015. It provides details on who counts as a full-time employee and outlines the key information needed to complete the new IRS forms, including whether coverage was offered, employees' share of premium costs, and months of enrollment.
The document summarizes changes to the Affordable Care Act (ACA) that took effect between 2010-2014, including: dependent coverage until age 26, removal of pre-existing condition limitations for children, and employer shared responsibility requirements taking effect in 2015. It also outlines rules for determining if an employer qualifies as a "large employer" subject to penalties, such as counting full-time and part-time employees over a measurement period. Large employers face penalties if they do not provide minimum essential coverage or if the coverage is unaffordable or inadequate.
Economic alliance health care reform update march 5-2013Michelle Hundley
The document summarizes upcoming changes to health care reform regulations beginning in 2013, including limits on flexible spending accounts, new reporting requirements for employers, comparative effectiveness research fees, exchange notices for employees, individual mandates, employer pay or play rules, and independent contractor classifications. It also outlines additional reforms taking effect in 2014, such as state health insurance exchanges, premium subsidies, individual and employer mandates, rating limits, and cost sharing limits.
Small Business Tax Considerations Under the Health Reform and HIRE ActsStambaugh Ness, PC
The document summarizes small business tax considerations related to the Federal Health Care Reform and HIRE Acts. It provides details on the small business health insurance tax credit available from 2010-2013 for employers with fewer than 25 FTEs offering qualifying health insurance. It also outlines the payroll tax exemption and retention credit available to employers under the HIRE Act for hiring and retaining qualified workers.
Health Care Reform Implementation For Employersjpwlinkedin
The document summarizes key provisions of the Patient Protection and Affordable Care Act (PPACA) that affect employers and health insurance. It notes that PPACA requires most employers to offer minimum health coverage and individuals to purchase and maintain coverage. Major reforms take effect in 2014, including the establishment of health insurance exchanges, an individual mandate, penalties for employers not providing affordable coverage, and modified community rating standards. The document provides timelines of upcoming changes and impacts on employers between now and full implementation in 2014.
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1. Capstone Financial
David Melilli
President
250 West Main Street
Moorestown, NJ 08057
856-248-0645
davidm@capstonesuccess.com
www.capstonesuccess.com
Health-Care Reform Changes
Affecting Employers
The 2010 health-care reform legislation is in many in a state-sponsored health insurance Exchange and
ways little more than a framework for change. qualifies for a premium tax credit or cost-sharing
Regulation and guidance is anticipated in the coming reduction. Part-time employees are included when
months and years, and will ultimately shape this determining if you have 50 employees, based on the
initiative. The following is a brief overview of some of total hours worked per month divided by 120.
the health-care reform provisions that employers Even if you do offer coverage, you'll be assessed a
should be aware of. fee for each month that at least 1 full-time employee
Small employer tax credit enrolls in an Exchange and qualifies for a premium
tax credit or cost-sharing reduction, because your
As of 2010, if you employ fewer than 25 full-time plan's share of total cost is less than 60%, or as a
equivalent employees (FTEs) with average annual result of the coverage you provide being considered
wages of less than $50,000, and you contribute at unaffordable for that employee. In this case, the
While the new health least 50% toward the cost of your employees' health
care reform law does not monthly fee is equal to the lesser of $250 ($3,000 per
require employers to
insurance, you may qualify for a small employer tax year) per full-time employee receiving a credit or
provide employee health credit. Through 2013, the credit is up to 35% (25% for reduction, but no more than the fee you would be
benefits, the law does tax-exempt eligible small employers) of the lesser of subject to if you offered no health-care insurance at
impose penalties and your actual cost for health insurance coverage, or the all.
offers incentives to amount of contributions you would have made during
encourage employer the taxable year if each employee had enrolled in In addition, large employers that provide employee
participation. coverage based on a benchmark premium. health insurance and pay a portion of the premiums
must offer a free choice voucher to employees who
The full credit is available if you have 10 or fewer elect to enroll in an Exchange plan. The value of the
FTEs with average annual wages below $25,000. The voucher is equal to the amount you would have paid
credit is reduced if you have more than 10 FTEs (but to cover the employee under the plan. Employees
less than 25 FTEs) and/or pay average annual wages may enroll in an Exchange plan if the employee's
greater than $25,000 (but less than $50,000). income is less than 400% of the Federal Poverty
For taxable years beginning after 2013, the maximum Level and the employee's cost to participate in the
credit increases to 50% (35% for qualified charitable employer's health plan is between 8% and 9.8% of
employers), but only if you purchase health insurance the employee's household income. The voucher can
through a state-sponsored health insurance be used to offset the employee's cost to participate in
Exchange, and it is only available for two consecutive the Exchange.
years thereafter. Also beginning in 2014, employers with more than
Play or pay 200 full-time employees that offer health insurance
must automatically enroll new full-time employees,
While employers are generally not required to offer subject to a waiting period of no longer than 90 days.
health insurance to employees, effective January 1,
2014, if you're a large employer (you have an average Other employer incentives
of at least 50 full-time employees) and do not offer By 2014, in an effort to promote wellness and
health insurance to your employees, you may have to decrease health insurance costs, employers will be
pay a monthly fee of $166.67 ($2,000 per year) per able to offer employees rewards, such as premium
full-time employee (excluding the first 30 employees) discounts and added benefits, for participating in
for any month coverage is not offered. The fee wellness programs and meeting certain health-related
applies if at least 1 of your full-time employees enrolls standards. The value of the rewards can equal as
November 07, 2011
Page 1 of 2, see disclaimer on final page
2. much as 30% of the cost of coverage and may even • By 2012, most employers must meet certain
reach 50% in some cases. reporting and disclosure requirements, which
Employers who provide insurance for retired include providing a summary of plan benefits and
employees who are age 55 or older, but not yet annual reports to participants; reporting annual
eligible for Medicare, may receive reimbursement for enrollment and claims practices to the Secretary of
80% of retiree claims between $15,000 and $90,000. Health and Human Services; and providing
This temporary reinsurance program begins in 2010 premium and coverage information to the IRS.
and is available until 2014. On the other hand, • For plan years beginning on or after January 1,
employers who currently receive a tax deduction for 2014, plans may not impose pre-existing
Medicare Part D drug subsidy payments will see that conditions on any plan participant or beneficiary.
deduction eliminated in 2013. Tax provisions
SHOP Exchanges Group health plan coverage For taxable years beginning January 1, 2011, you
Small Business Health requirements must include the aggregate cost of group health plan
Option Programs, or SHOP benefits (with some exclusions) provided to
Exchanges, are scheduled Group health plan requirements under the health-care employees on Form W-2. And, effective January 1,
to be in each state by 2014. legislation directly apply to insurers. However, most of 2013, you will be responsible for collecting and
These state-run Exchanges these provisions are incorporated by reference into
allow employers with fewer
reporting an increase of 0.9% in FICA taxes on wages
ERISA and the Internal Revenue Code, extending above $200,000. The increase applies only to the
than 100 full-time
employees the option of
their application to employers offering group health employee-paid portion of FICA taxes.
buying health insurance for insurance. Beginning in 2010, some important group
health plan requirements include: If you sponsor a group health plan, you may be
their employees as part of a assessed a tax of two dollars per average number of
"purchasing pool" in an • As of 2010, group plans that offer coverage for
effort to lower premium
insured lives beginning in 2012. The tax is intended to
dependent children must extend the age for finance a comparative effectiveness research
costs.
dependent coverage to age 26. For plans in program measuring the value of various medical
existence prior to March 23, 2010 (the date of interventions. The tax is scheduled to sunset after
legislative enactment), the extension of dependent September 30, 2019.
coverage applies only if an adult child is not
eligible to enroll in any other eligible Health-care legislation makes changes to health
employer-sponsored health plan. savings accounts (HSAs), Archer medical savings
accounts (MSAs), flexible spending accounts (FSAs),
• As of 2010, coverage for a plan participant cannot and health reimbursement accounts (HRAs) that
be rescinded except for fraud or intentional affect both plan participants and employers.
misrepresentation, and plans may not impose Beginning January 1, 2011, over-the-counter drugs
pre-existing condition exclusions with respect to no longer qualify for distributions/reimbursements
children under age 19. under HSAs, Archer MSAs, health FSAs, and HRAs.
• As of 2010, plans may not impose lifetime limits on In addition, the tax on nonqualified distributions from
the dollar value of essential health benefits for plan HSAs or Archer MSAs increases to 20% in 2011.
participants and beneficiaries. Essential health Beginning in 2013, contributions to health FSAs are
benefits are intended to include those benefits limited to $2,500 per year.
customarily provided under a typical employer In 2018, a 40% excise tax is imposed on certain
health plan, as defined by the Secretary of Health group health plans (excluding long-term care, vision,
and Human Services. Beginning in 2014, plans and dental plans) if the annual cost exceeds $10,200
cannot impose annual coverage limits for essential for single coverage and $27,500 for family coverage,
health benefits. indexed for inflation.
• Most preventive care services and immunizations
recommended by the U.S. Preventive Services
Task Force will not be subject to deductibles,
co-pays, and co-insurance. (Plans in existence on
or before March 23, 2010, are exempt from this
provision.)
IMPORTANT DISCLOSURES
Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not
specific to any individual's personal circumstances.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose
of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her
individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed
to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time
and without notice.
Page 2 of 2
Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2011