- 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
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.
Note: If this publication all links are dead, but you need to download files from this publication, please send me a private message and I'll try to help you or emai to info@presslounge.vn for supporting
Disclaimer: We do not encourage illegal activity. References to a content protected by the copyright law, are given exclusively in the fact-finding purposes. If you liked the program, music or the book – buy it.
Health Reform Bulletin: Implementation Guidance & ACA UpdatesCBIZ MHM, LLC
1) Distribution of Marketplace Notice to Employees; 2) 90-day Waiting Period; 3) Individual Shared Responsibility- Final Regulations; 4) Employer Appeals in Marketplace Eligibility Determinations; 5) Small Business Tax Credit; 6) Preventive Care - Health Saving Accounts; and 7) Internal Claims, Appeals and External Review: Providing Culturally and Linguistically Appropriate Notices
How can you smooth the healthcare reform transition? Learn about the mandates currently in place, the mandates that are coming in the near future, what employers need to do, and what employees need to do. Participants can also ask specific questions about how healthcare reform may impact their organization.
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.
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.
Note: If this publication all links are dead, but you need to download files from this publication, please send me a private message and I'll try to help you or emai to info@presslounge.vn for supporting
Disclaimer: We do not encourage illegal activity. References to a content protected by the copyright law, are given exclusively in the fact-finding purposes. If you liked the program, music or the book – buy it.
Health Reform Bulletin: Implementation Guidance & ACA UpdatesCBIZ MHM, LLC
1) Distribution of Marketplace Notice to Employees; 2) 90-day Waiting Period; 3) Individual Shared Responsibility- Final Regulations; 4) Employer Appeals in Marketplace Eligibility Determinations; 5) Small Business Tax Credit; 6) Preventive Care - Health Saving Accounts; and 7) Internal Claims, Appeals and External Review: Providing Culturally and Linguistically Appropriate Notices
How can you smooth the healthcare reform transition? Learn about the mandates currently in place, the mandates that are coming in the near future, what employers need to do, and what employees need to do. Participants can also ask specific questions about how healthcare reform may impact their organization.
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.
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.
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
This presentation covers how Medicare affects employer health coverage in: Providing opt out amounts | Paying for Medicare for active employees | Electing COBRA
Cadillac Tax for Employers 101 - How to Avoid Penalties?benefitexpress
This webinar covers: what coverages are subject to the tax, how the excise tax is determined, what adjustments will be available in determining the tax, and who collects the tax.
This webinar covers a basic review of the requirements under ERISA, including: what is an ERISA benefit, what documentation requirements have to be met, what disclosure requirements have to be met, what reporting requirements need to be met, what is a fiduciary, and what are other requirements.
Should an Employer Be Self-Funded?
That is quite a question. In the past we cautioned that claims savings was not guaranteed by self-funding. And with a small difference in fixed fees vs. fully insured retention, there was not much incentive for smaller employers to take the risk, given that they were more susceptible to wide fluctuations in claims cost.
Review our research and analysis on self-funding to help determine if the program is the right fit for your business. Contact McGohan-Brabender to discuss self-funding in detail.
https://www.mcgohanbrabender.com/
Independent Contractor or Employee: Avoiding the Game of Guess Whobenefitexpress
Uber is in the news for a multimillion dollar settlement following a dispute over whether their drivers are employees or independent contractors, and they aren’t the only ones. Misclassifying an employee as an independent contractor is one of the costliest mistakes an employer can make.
Sort out which your employees are and learn your options for reclassifying workers in the webinar you literally can’t afford to miss.
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.
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
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.
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
This presentation covers how Medicare affects employer health coverage in: Providing opt out amounts | Paying for Medicare for active employees | Electing COBRA
Cadillac Tax for Employers 101 - How to Avoid Penalties?benefitexpress
This webinar covers: what coverages are subject to the tax, how the excise tax is determined, what adjustments will be available in determining the tax, and who collects the tax.
This webinar covers a basic review of the requirements under ERISA, including: what is an ERISA benefit, what documentation requirements have to be met, what disclosure requirements have to be met, what reporting requirements need to be met, what is a fiduciary, and what are other requirements.
Should an Employer Be Self-Funded?
That is quite a question. In the past we cautioned that claims savings was not guaranteed by self-funding. And with a small difference in fixed fees vs. fully insured retention, there was not much incentive for smaller employers to take the risk, given that they were more susceptible to wide fluctuations in claims cost.
Review our research and analysis on self-funding to help determine if the program is the right fit for your business. Contact McGohan-Brabender to discuss self-funding in detail.
https://www.mcgohanbrabender.com/
Independent Contractor or Employee: Avoiding the Game of Guess Whobenefitexpress
Uber is in the news for a multimillion dollar settlement following a dispute over whether their drivers are employees or independent contractors, and they aren’t the only ones. Misclassifying an employee as an independent contractor is one of the costliest mistakes an employer can make.
Sort out which your employees are and learn your options for reclassifying workers in the webinar you literally can’t afford to miss.
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.
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
در این اسلایدها، علی واحدی به زبان ساده مفهوم ارزش کسب شده را به تصویر می کشد. اطلاعات کامل را می توانید در کتاب مدیریت پروژه ارزش کسب شده که توسط علی واحدی تألیف شده، دریافت نمایید. با شرکت در دوره های مدیریت ارزش کسب شده می توانید با این استاندارد و مفاهیم جالب کاملاً آشنا شوید. این دوره ها به صورت کارگاهی برگزار می گردد. برای کسب اطلاعات بیشتر از محتوای آموزشی این دوره ها، اینجا و برای دیدن تصاویری از این دوره ها نیز اینجا کلیک نمایید
www.touscours.net, Groupes,Permutations,Anneaux,Arithmétique dans Z,Corps commutatif,Les polynômes formels à une indéterminée à coefficients dans un corps K,Fonctions polynomiales,racines,Espaces vectoriels,K-algèbres,Espaces vectoriels de type fini,Matrices,Déterminants,Fractions rationnelles,Produit scalaire sur un R-ev,Espace vectoriel euclidien,R-ev euclidien orienté de dimension 2,R-ev euclidien orienté de dimension 3,Espaces affines,Géométrie dans un espace affine euclidien
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.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
Discussion Question (250-300 words long) Describe the princip.docxelinoraudley582231
Discussion Question: (250-300 words long)
Describe the principles of fee-for-service plans and managed care plans. What are the similarities and differences?
I want you to discuss and answer this question and to help you to do so I will upload a PowerPoint file helping you to answer this question.
Here are two of the classmates responses to this question read it and try to connect their responses to your answer and discussion.
Gabrielle
Fee-for-service plans (FSS) and managed care plans are both classes of insurance programs. In fee-for-service plans, the doctors and hospitals get paid for the service that they perform and test that they order. This plan provides protection against health care expenses in the form of a cash benefit that is paid to the insurer or directly to the health care provider after the employee has received health care services. However under this plan, the insurance company determines a deductible for the patient to pay and then they are responsible for the remainder of the amount. Under managed care plans, the plans emphasize cost control by limiting the patient’s choice of doctors and hospitals that they can use. The plan provides a list of physicians and hospitals that the plan holder can use at a reduced price.
These plans are both similar because they offer a reduced price for medical and health coverage. Some differences between the two include how a patient can choose a physician or hospital. Under FSS, you can see a physician whenever you want or feel necessary. However, under managed care, when you see only the physicians that are affiliated with the plan, they then receive a strong financial incentive.
Trevor
The principles of a fee-for-service plan include a health insurance programs that that use cash benefits in order to help protect employees of an organization from expense that come from health care. Some things that are covered by this are physician charges, hospital expenses, and surgical expenses. One type of these service plans are indemnity plans. These plans are when the insurance company and the employer have a contract that specifically covers certain expenses. The next type of these plans are self-funded plans. These plans are when a company pays benefits from their own assets. Managed care plans control costs by limiting employee's decisions on doctors and hospitals. Fee-for-service plans and managed care plans are similar because they both provide health insurance for employees. Managed health care plans are more confusing because they have so many specifications, meanwhile fee-for-service plans is more basic that offers cash benefit for expenses.
until after a probationary period of at least three months so that they can prove that they are going to be great asset to the company.
Instructions:
1. Login to our database using the phpmyadmin.soe.ucsc.edu interface.
2. Develop SQL query to answer each question.
3. In a WORD compatible document and for each question:
· State .
Chapter 6Alternative Responses and Initiatives of Institutions aJinElias52
Chapter 6
Alternative Responses and Initiatives of Institutions and Professions
Nongovernmental health care organizations provide most medical services and handle the financing of much of the system. For-profit and nonprofit institutions operate side by side, often competing directly for the same business.
This chapter identifies a number of strategies that individuals and organizations adopt in response to governmental programs or initiate on their own to influence health policy. We start with Table 6-1, which outlines the actors and the alternatives for responding to government actions and the marketplace. Where alternatives have been addressed and terms defined in earlier chapters, we try not to repeat that information.
6.1 COMMON RESPONSES
All of the players listed in Table 6-1 employ strategies to influence the marketplace and its regulators. These can be classified into three main types of interventions:
• Public relations
• Marketing and education
• Lobbying
Table 6-1 Responses and Initiatives of Institutions and Professions
Common Approaches
• Public relations
• Marketing and education
• Lobbying
Payers
• Employers
• Eligibility
• Subsidy offered
• Plans offered
• Relationship with insurers/self-insurance
• Worker education and training
• Insurers
• Method of organization
• Method of payment
• Plans offered
• Case management/carve-outs
• Utilization constraints
• Consumer education
Providers
• Professionals
• Organization of practice
• Services offered
• Incentives
• Pricing
• Patient relationships
• Primary versus specialty care
• Efficiency
• Institutions
• Organizational structure
• Scope and scale of services
• Pricing/discounts
• Efficiency
• Quality improvement
• Consumer information
• Credentialing decisions
• Involving payers in change processes
• Professions
• Quality improvement
• Provider education
• Consumer education
Consumers
• Plan selection
• Provider selection
• Self-help
Each player manages its relationships with the media and with politicians and regulators directly, and each acts indirectly through trade associations and professional groups. You will see illustrations of this throughout the cases included in this text and in subsequent chapters dealing with political feasibility and values. The focus of each intervention changes depending on the nature of the specific market. Lobbying is particularly intense in administered markets such as Medicare and Medicaid, especially when new legislation is under consideration. Lobbying also goes on continuously with the relevant executive branch agencies. Public relations and education are used more assertively when regulators are considering changes, and marketing, especially advertising, is most intense where the market is less regulated. The term education can apply to the many different types of efforts to influence behavior. Government antismoking campaigns can be characterized as education, for example, but the term can also ...
Reporting Requirements for Every Business
At the minimum, the IRS requires every employer to document, track and prove their employer status. Get the complete break down of requirements for employee counts from 0 to 100+.
Learn Critical Terms You Need to Know
From Form 1095-C to Safe Harbor Rules, we break down the most frequently used ACA terms employers will encounter.
Get A Blueprint for Measurement Periods
Break down the who, what, and how of ACA reporting to learn how to measure data for new hires and current employees.
Break Down the Form 1095-C by Sections
Get a clear understanding of the Form 1095-C and navigate the tougher sections to know what information you’ll need to file to avoid costly penalties.
CBO and the Joint Committee on Taxation use HISIM2 to estimate the major sources of health insurance coverage and associated premiums for the U.S. population under age 65.
HISIM2 is used in conjunction with other models (for example, those for related taxes, Medicaid, and Medicare) to develop baseline insurance coverage projections and their associated budgetary costs. It is also used to estimate the effects of proposed changes in policies that affect health insurance coverage.
CBO uses HISIM2 to model firms’ decisions to offer health insurance as well as households’ decisions to enroll in health insurance. Like all of CBO’s models, HISIM2 is regularly updated. This slide deck describes the analytical methods used in HISIM2 to model firms’ decisions in CBO’s baseline budget projections as of March 6, 2020.
Group health plans can require qualified beneficiaries to pay for COBRA continuation coverage, although plan sponsors can choose to provide continuation coverage at reduced or no cost.
The maximum amount charged to qualified beneficiaries cannot exceed 102 percent of the plan’s total cost of coverage. The cost amount is based on the cost of coverage for similarly situated individuals who have not incurred a qualifying event. For qualified beneficiaries receiving the 11-month disability extension, the premium for those additional months may be increased to 150 percent of the plan's total cost of coverage...
Similar to Important Choices for Employers under the Health Care Law, March 25, 2010 (20)
In today’s modern workplace, where the primary resource is knowledge, collective knowledge building is a key strategic task. The Business Case for Transformative Training
The relationship between employer and employee is based on a free and voluntary exchange, which helps maintain the competitiveness of the economy. While the relationship can be terminated by either party, with or without cause with penalty, there are legal exceptions.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
when will pi network coin be available on crypto exchange.DOT TECH
There is no set date for when Pi coins will enter the market.
However, the developers are working hard to get them released as soon as possible.
Once they are available, users will be able to exchange other cryptocurrencies for Pi coins on designated exchanges.
But for now the only way to sell your pi coins is through verified pi vendor.
Here is the telegram contact of my personal pi vendor
@Pi_vendor_247
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What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
Currently pi network is not tradable on binance or any other exchange because we are still in the enclosed mainnet.
Right now the only way to sell pi coins is by trading with a verified merchant.
What is a pi merchant?
A pi merchant is someone verified by pi network team and allowed to barter pi coins for goods and services.
Since pi network is not doing any pre-sale The only way exchanges like binance/huobi or crypto whales can get pi is by buying from miners. And a merchant stands in between the exchanges and the miners.
I will leave the telegram contact of my personal pi merchant. I and my friends has traded more than 6000pi coins successfully
Tele-gram
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Important Choices for Employers under the Health Care Law, March 25, 2010
1. Employers Association of New Jersey
A nonprofit association se'rving employers since 19 [ 6
Important Choices for Employers under the Health Care Law
John J. Sarno, Esq.
March 25, 2010
For Discussion Only
Now that both the "Patient Protection and Affordable Care Act" (PPACA) and the reconciliat ion
"fixer" bill, the "Health Care and Education Reconciliation Act" have been signed into law,
employers must take a new look at the offering of health insurance benefits. This document is
not legal advice, but is intended to serve as an outline to the new realities employers face in
this landscape of compliance responsibilities.
Important Choices for Employers
Offering vs. Non Offering
•
•
•
Small Business Tax Credit
Plan Requirements
Plan Costs vs. Penalty Costs
•
•
•
Vouchers
Afford ability Penalties for Offering Firms
Employees' Subsidy Eligibility
Plan Cost Considerations
•
•
•
Purchasing Traditional Insurance
Self-Insuring
Sending Employees to the Exchange
Other Benefit Considerations
•
•
•
•
•
Long-Term Care
Ret iree Prescript ion Drug Plans
Compensation: Salary vs. Benefits
Consumer-Directed Account Options
Employee Well ness Plans
To Offer, or Not to Offer?
Small Business Tax Credits: Employers of different sizes have different concerns here. Th e
smallest employers (those with 25 or fewer employees and an average workforce salary of
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2. $50,000 or less) may wish to consider utilizing t he small business health insurance tax credits.
These credits may pay for up to half of the costs of providing healt h in surance to em pl oyees,
and w ill last two years past the creation of Exchanges (the credit is 35 percent before 2014 and
50 percent for two years after) . However, there is no transition after the two year cutoff, so for
some firms costs could double the next year, or they may be forced to drop a benefit that
employees had relied upon or grown accustomed to.
Employers with between 25 and 50 employees are not eligible for subsidies, and wi ll not b e
fined for failing to offer health insurance; however, if they do offer a plan, the pl an may need t o
meet essential benefit and actuarial standards, o r employees will still be subject t o th e
individual mandate penalty.
Plan Requirements: In order to be a qualified health plan (and thus to exempt an individual
from the individual respo nsibility penalty and an employer from the shared responsib ility
penalty), a health plan must meet both the actuarial requirements enacted in the PPACA
(generally a 60 percent actuarial value), as well as cover all of the "essentia l benefits." Th e
essential benefits will be promulgated by the Secretary of Health and Human Services prio r to
the mandates taking effect in 2014 and will apply to fully-insured plans.
Plan Costs vs. Penalty Costs: For employers with more than 50 employees wh o choose not
to offer coverage, no fines will be levied if all employees' incomes are above 400 percent of t he
Federal Poverty Level (FPL). If any employees are below 400 percent of FPL, the likely fine w ill
be $2,000 times the number of employees minus 30 (provided that at least one employee gets
an Exchange credit). The same goes for employers who have plans that do not meet
government requirements . An employer's number of employees is calculated via adding all
employees who work 30 or more hours a week, to the number of "full -time equivalent"
workers (roughly translated as, if one adds up the hours per week of all the part-ti me
employees, how many times this can be divided by 30).
Vouchers and Affordability Credits for Offering Firms: Employers with more than 50
employees who do offer qualified health insurance to employees will also have new co ncerns .
Many employers pay large portions of health insurance premiums on behalf of employees, and
employees pay the remaining portion. If any employee's contribution constitutes between 8
and 9.5 percent of his or her income, the employer is required to offer this employee a vouche r
that is equal to the employer's expected contribution, to be used t o purchase hea lt h in surance
in an Exchange. If an employee's contribution exceeds 9.5 percent of his income, he may (if
income is below 400 percent of FPL) obtain an Exchange subsidy, incurring a $3,000 fi ne for the
employer. If enough employees have low enough incomes and get Exchange credits, an
employer offering a qualified plan could be fined just as much as an employer offering no
health insurance and paying the free-rider pen alty.
Employees ' Subsidy Eligibility: Employees who do not meet these two specific "affordab ility"
requirements and otherwise have an offer of a qualified plan from an employer are not eli gib le
for Exchange credits. Thus the offer of an employer plan may be disadvantageous to some
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3. employees, who would be eligible for more generous subsidies if they were not offered a
qualified plan through their employer. Further, in many cases the $2,000 per emp loyee fin e w ill
be significantly less than the average employer contribution to employees' prem iums. An
offering employer will also need to list the value of the benefit on employee W- 2s starting in
2011. Employers will now need to weigh the decision whether or not to offer plans against the
possible savings the employer could obtain by opting for the penalties, the possible fines that
low-income employees could generate, and the possible subsidies that employees cou ld receive
if there is no plan offered .
Managing Plan Costs and Avoiding Pen alties
Employers will need to take specific steps to make sure their plans meet new requirements in
order to protect employers from "shared responsibility" penalties (the "free-rider" or empl oyer
mandate) and to protect employees from "individual responsibility" penalties (req uirin g
individuals to have qualified health insurance). Further, the structure and value of a plan may
have serious implications for employers as well.
Purchasing Traditiona l Insurance: Employers purchasing a fully-insured plan (a tradi t io nal
health insurance product in which the insurer pays claims and takes on the risk) wi ll need to
verify that said plan is a qualified benefit going forward - by October of 2010 plans wi ll need to
meet new requirements relating to lifetime/annual limits, rescissions, and excess wa iting
periods. They will need to allow individuals up to the age of 26 to be listed as dependents.
When the shared responsibility provisions kick in, in 2014, employers will need to verify that
plans meet the essential benefits requirement (to be defined by the Secretary of HHS) and the
actua rial requirements laid out in the law. There will be limitations on imposing annua l li m its,
and first-dollar coverage of prevention with no cost-sharing will be mandated for everythin g
selected by the u.S. Preventative Services Task Force. Starting in 2011 these plans wi ll need to
have new limits on Health Savings Accounts and Flexible Spending Arrangements as well . Fu lly
insured plans may be forced to "rebate" money to beneficiaries if the plan's administrative
costs exceed 15% starting in 2011.
Depending on what definitions are developed for administrative costs, this co uld potenti ally be
very challenging for plans attempting to innovate cost-containment strategies. Also, starting in
2014, there will be a tax specifically on fully-insured products, which could result in increased
costs associated with these plans.
Self-Insuring: The alternative will be to self-insure (employer can form an ERISA pl an in wh ich
the employer pays claims, manages risk, and will likely use an insurance compan y only to
administer claims and offer stop-loss insurance for high-cost claims), which w ill shie ld
employers from both state coverage mandates and the new health in surance tax, but will entail
two key new risks: the employer will then become responsible for seeing to it that t he pl an
meets all the new requirements (as well as new outside requirements under the Genetic
Information Nondisclosure Act, the Mental Health Parity Act, and others), and, if the plan's
costs per beneficiary exceed certain amounts after 2017, the plan sponsor will be fin ed by the
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4. so-called "Cadillac tax." Self-insured plans will need to report their costs on em ployees' W -2s.
Self-insured plans may not need to cover the " essential benefits" but will need to m eet th e
actuarial valuation requirement of 60 percent.
Sending Employees to the Exchange: Employers wishing to have a firm grasp on he alth
insurance costs will have the option of offering Exchange plans to their employees - small
em pl oyers will be eligible at the outset, and states may allow large employers to part ici pate
starting in 2017. This may allow a defined contribution from employers, provided the
contribution was significant enough to avoid "responsibility" penalties .
Offering Other Health-Related Benefits
Long- Term Care: Employers continue to report very low enrollment in long-term care
benefits offered to employees. Starting in 2011, employers will be permitted to automaticall y
enro ll employees into the new CLASS program, which will on average every mo nth dedu ct
between $146 (CBO) and $240 (CMS) from employee's pay checks. If an enrollee (after a five
year vesting period) becomes eligible (meaning he needs help with a major life activity like
bathing, eating, or dressing) he or she may receive around $75 per day from the program .
Employees will need to be given a notice that they can affirmatively opt-out to avoid auto
enrollment.
Retiree Prescription Drugs: Employers who offer Part D prescription drug plans to th eir
retired employees currently receive a 28% subsidy from the Medicare program, which ha s been
excluded from taxation. In 2013 this exclusion will be removed, so the net subsidy from
Medicare will be in effect reduced (meaning the overall costs to employers to provide Part D
programs will be increased). Employers currently offering these benefits or considering
beginning to offer these benefits should take these new costs into account. If a bus iness ceases
offering a Part D prescription drug plan, retirees will still be eligible to use the Part D program
on their own .
Compensation: Effective within 90 days of enactment, individuals with pre-exist in g co ndition s
will have access to high-risk pools. Starting in 2014, with the creation of Exchanges, all pla ns
generally will be subject to guaranteed issue and community rating. This will have the effect of
eliminating barriers to care for those who wait until they are sick to enroll ; in other words,
employees may enroll in an Exchange plan at any time and they will not be turned away or
charged higher prices due to periods of being uninsured. The individual responsibility
requirement, which also kicks in starting 2014, will max at the higher of $695 or 2. 5 percent of
an individual's salary. Due to the removal of risk in having uninsured periods, and the low
penalty for failing to obtain insurance, many employees may prefer compensation through
income rather than through health benefits.
Consumer-Directed Account Options: Starting in 2011, there will be some important
changes to Health Savings Accounts (HSAs), Flexible Spending Arrangements (FSAs), and t he
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