The document summarizes key aspects of healthcare reform legislation for employers. It outlines requirements employers must implement by 2011, including covering adult children up to age 26 and eliminating lifetime limits. It describes additional responsibilities in 2012, such as reporting healthcare costs on W-2s. The document also discusses a tax on high-cost "Cadillac" health plans beginning in 2018. Finally, it notes tax credits available to small businesses that offer employee health coverage.
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.
Are you ready for the upcoming 2014 provisions of the new healthcare reform act? Do you know what the implications are to you as a small or midsize company?
Our webinar will help you become familiar with upcoming requirements under the Patient Protection and Affordable Care Act.
Expect to learn the following and more:
What is the Patient Protection and Affordable Care Act
How does an organization determine their 2014 cost to comply?
What should organizations be doing now to prepare?
Health Care Reform - Small Business Health Options Program (SHOP) UpdatesCBIZ, Inc.
One of the components of the Affordable Care Act is the Small Business Health Options Program (SHOP). The SHOP is the marketplace, sometimes referred to as “exchange”, specific to small employers.
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
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!
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.
Are you ready for the upcoming 2014 provisions of the new healthcare reform act? Do you know what the implications are to you as a small or midsize company?
Our webinar will help you become familiar with upcoming requirements under the Patient Protection and Affordable Care Act.
Expect to learn the following and more:
What is the Patient Protection and Affordable Care Act
How does an organization determine their 2014 cost to comply?
What should organizations be doing now to prepare?
Health Care Reform - Small Business Health Options Program (SHOP) UpdatesCBIZ, Inc.
One of the components of the Affordable Care Act is the Small Business Health Options Program (SHOP). The SHOP is the marketplace, sometimes referred to as “exchange”, specific to small employers.
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
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!
For businesses with 50 employees or less. There is a lot of confusion and misunderstanding about what the Affordable Care Act (Obamacare) is and how it will affect your business and employees. It is important to learn how it relates to you, your employees and your business. There are many moving parts and there are changes ahead. Our blog series and webinars will describe what the Affordable Care Act is "in plain English" and keep you up to date on the latest information.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
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.
The ICHRA vs. the QSEHRA: Which is right for your business?PeopleKeep
The qualified small employer health reimbursement arrangement (QSEHRA) and the individual coverage health reimbursement arrangement (ICHRA) both allow companies to set allowances for their employees to use on health insurance policies and other medical expenses.
However, while they perform similar functions, they operate differently.
In these slides, we'll go over the basics of each plan, how they differ, and how to choose which one is best for your company.
A summary look at the effects the 2014 Australian Federal Budget may have on you and your businesses as well as the economy. Post Budget presentation by Hanrick Curran, Chartered Accountants in Brisbane Australia
HR Webinar: The New Consolidated Appropriations Act of 2021: What HR Pros Mus...Ascentis
On December 27, 2020, the President signed H.R. 133, the "Consolidated Appropriations Act of 2021". This omnibus law includes the much anticipated and long-awaited COVID Relief Bill, with many of the new provisions taking effect immediately. Weighing in at a "mere" 5,593 pages, the new law renews or extends most of the tax relief programs available to employers under both the FFCRA and the CARES Act. The renewed Paycheck Protection Program, funded with $284.45 billion in new federal spending, is expected to see new lending the week of January 11, 2021, with a number of changes in response to prior program criticisms. Join us at this webinar to review the many provisions of CAA'21 which will impact Human Capital Management.
For businesses with 50 employees or less. There is a lot of confusion and misunderstanding about what the Affordable Care Act (Obamacare) is and how it will affect your business and employees. It is important to learn how it relates to you, your employees and your business. There are many moving parts and there are changes ahead. Our blog series and webinars will describe what the Affordable Care Act is "in plain English" and keep you up to date on the latest information.
What Changes to Expect from the new Healthcare Law, presented by The National Federation of Independent Business, the leading small business association.
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.
The ICHRA vs. the QSEHRA: Which is right for your business?PeopleKeep
The qualified small employer health reimbursement arrangement (QSEHRA) and the individual coverage health reimbursement arrangement (ICHRA) both allow companies to set allowances for their employees to use on health insurance policies and other medical expenses.
However, while they perform similar functions, they operate differently.
In these slides, we'll go over the basics of each plan, how they differ, and how to choose which one is best for your company.
A summary look at the effects the 2014 Australian Federal Budget may have on you and your businesses as well as the economy. Post Budget presentation by Hanrick Curran, Chartered Accountants in Brisbane Australia
HR Webinar: The New Consolidated Appropriations Act of 2021: What HR Pros Mus...Ascentis
On December 27, 2020, the President signed H.R. 133, the "Consolidated Appropriations Act of 2021". This omnibus law includes the much anticipated and long-awaited COVID Relief Bill, with many of the new provisions taking effect immediately. Weighing in at a "mere" 5,593 pages, the new law renews or extends most of the tax relief programs available to employers under both the FFCRA and the CARES Act. The renewed Paycheck Protection Program, funded with $284.45 billion in new federal spending, is expected to see new lending the week of January 11, 2021, with a number of changes in response to prior program criticisms. Join us at this webinar to review the many provisions of CAA'21 which will impact Human Capital Management.
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.
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.
These slides were from a recent SBA webinar presented by Small Business Majority. It focused on both federal and state provisions to help local small business owners understand how the law will affect them. Topics being discussed included:
Small business tax credits (available to businesses and tax-exempt non-profits)— who’s eligible for them and how to claim them, Marketplace updates, Shared responsibility,Cost containment, Tools and resources available for small businesses interested in learning more about the law.
About Small Business Majority
Small Business Majority is a national nonprofit advocacy organization focused on solving the biggest problems facing America's 28 million small businesses. We conduct extensive opinion and economic research and work with small business owners, policy experts, and elected officials nationwide to bring nonpartisan small business voices to the public policy table.
Affordable Care Act 101: What the New Healthcare Law Means for Your Small Bus...Small Business Majority
August 15, 2013. Hosted by the U.S. Small Business Administration and Small Business Majority. This webinar focused on what the new healthcare law, the Affordable Care Act, means for small businesses. It focused on both federal and state provisions to help local small business owners understand how the law will affect them.
Affordable Care Act 101: What the Healthcare Law Means for Small BusinessSmall Business Majority
August 8, 2013. Hosted by the U.S. Small Business Administration and Small Business Majority. This webinar focused on what the new healthcare law, the Affordable Care Act, means for small businesses. It focused on both federal and state provisions to help local small business owners understand how the law will affect them.
This webinar focused on what the new healthcare law, the Affordable Care Act, means for small businesses. It focused on both federal and state provisions to help local small business owners understand how the law will affect them.
On Thursday July 19th, 2012, the Taylor-Wilks Group held a free Health Care Symposium to provide resources and answer questions regarding the Affordable Care Act. This is some content from the event.
HEALTH CARE REFORM 2010: Top Ten Things Every Employer Should Know about the 2010 health care laws: The Patient Protection & Affordable Care Act and the Health Care
& Education Affordability Reconciliation Act of 2010
Ted Ginsburg, CPA, JD from Skoda Minotti's Employee Benefits group provides an update on the Affordable Care Act (ACA) for employers who were not subject to it in 2015, but are facing IRS filing requirements moving forward.
How Does Obamacare Impact Your Business Planning?Tilson
The Supreme Court has upheld the PPACA and its implementation is full steam ahead. Now is the time to begin preparing for the impact on your business and your employees. Many have forgotten the complexity, decisions, and regulatory requirements of this legislation. As we all know, the devil is in the details.
With all of the regulations and forms, FMLA can be very confusing to understand and comply with. The overlapping State and Federal laws, eligibility qualifications, and process requirements make FMLA into a complicated regulation, but with the right information it doesn’t have to be a headache. Join KPA’s Human Resource Advocate, Kim Kavanagh, as she helps to take the mystery out of FMLA. Kim will delve into:
• Employer responsibilities
• Employee eligibility
• What documents are required and when
• Overlapping State and Federal Laws
• The intricacies of FMLA
Increase Your Profits through an Effective Safety CultureKPADealerWebinars
Description: In order to be profitable, an auto dealership needs to implement effective safety procedures. But what does this mean exactly? You may think you have an effective safety culture, but chances are, you don’t. Join KPA’s Regina Metzker as she dissects dealership safety culture, highlighting what steps your dealership needs to take to maintain a positive safety culture. She will discuss:
How to keep safety top-of-mind.
Making safety a responsibility for all employees.
Creating a line of communication about safety issues.
Implementing an effective safety program.
How to maintain organize and consistent safety practices.
We all take risks daily, whether it’s by exceeding the speed limit or gambling at a casino. Some of those risks may trickle into your facility, through personal decision or through employee choices. Have you recently taken a look at your facility and your technicians? Are they gambling with their personal safety? Are they wearing their safety glasses? Are they lifting too much? What are the risks and whose money are they risking? Join Certified Safety Professional Zach Pucillo and tip the scales in favor of your facility by learning how to decrease the risks an employee takes on a daily basis and how to protect your facility. Zach will discuss loss control and how it can affect your bottom line as well as how you can decrease risks protect your facility, employees, and yourself in the future.
Even with the best training, accidents sometimes still occur. Do you know how to handle an investigation when the unthinkable happens? With complex systems, mistakes are made, but your process can be simplified. Join Amanda Rawls, KPA District Manager, as she dissects accidents from beginning to end, highlighting the investigation, analysis, and the final decision making process, to learn how you can manage accident investigation and prevent accidents in the future.
Are you Really Compliant? Learn the Top Dealership Compliance MythsKPADealerWebinars
How often are you told something that seems too good to be true? Whether in your personal or professional life, there are always those things that you hear that don’t seem right. One person says it, another person tells someone else and then everybody starts to believe the “myth.” In today’s overly sensitive regulatory landscape it happens quite often. Whether or not the myth started innocently or with malicious intent doesn’t really matter. One thing is for certain, it makes your life much harder as you try to do the right thing and comply with OSHA, EPA or DOT standards. In this webinar we will take a look at the most commonly heard myths that find their way into dealerships. With topics ranging from OSHA compliance through waste disposal and to loss control, we will make sure that you leave this webinar with the truth.
$300,000, $600,000, $1.2 million – These are recent actual settlements. Are you prepared to defend your dealership from an employment lawsuit?
With increased enforcement and record settlements, most dealerships are not prepared and under budgeted in the event of an employment lawsuit. Join Jim Hendricks as he discusses the importance of HR compliance, litigation budgeting and EPL Insurance for dealerships. Learn about recent lawsuits involving dealerships and how those lawsuits could have been prevented with an HR compliance and management program and the critical steps you must take if you are involved in a lawsuit.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
The world of search engine optimization (SEO) is buzzing with discussions after Google confirmed that around 2,500 leaked internal documents related to its Search feature are indeed authentic. The revelation has sparked significant concerns within the SEO community. The leaked documents were initially reported by SEO experts Rand Fishkin and Mike King, igniting widespread analysis and discourse. For More Info:- https://news.arihantwebtech.com/search-disrupted-googles-leaked-documents-rock-the-seo-world/
Explore our most comprehensive guide on lookback analysis at SafePaaS, covering access governance and how it can transform modern ERP audits. Browse now!
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Accpac to QuickBooks Conversion Navigating the Transition with Online Account...PaulBryant58
This article provides a comprehensive guide on how to
effectively manage the convert Accpac to QuickBooks , with a particular focus on utilizing online accounting services to streamline the process.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
What are the main advantages of using HR recruiter services.pdfHumanResourceDimensi1
HR recruiter services offer top talents to companies according to their specific needs. They handle all recruitment tasks from job posting to onboarding and help companies concentrate on their business growth. With their expertise and years of experience, they streamline the hiring process and save time and resources for the company.
Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
1. – KPA CONFIDENTIAL –
What Healthcare Reform Means For Dealers
June 3, 2010
2. Questions
• If you have questions
during the
presentation, please
submit them using the
“Questions” feature
• Questions will be
answered at the end of the
webinar
3. HealthCare Reform
• What does Healthcare Reform
really mean?
• 5 things you must do now
• Thinking ahead to 2012 and
beyond
• Tax breaks for small businesses
3– KPA CONFIDENTIAL –
4. What does Healthcare Reform Mean
Health Care Reform refers to the Patient Protection and Affordable
Care Act of 2010, the bill as the Senate, 60-39 on Dec.
24, 2009, and by the House, 219-212 on March 21, 2010 . It was
signed into law by President Obama on March 23.
Congressional Budge Office estimated that the legislation would have a relatively small effect on
premiums for employer-based healthcare insurance. For employers with more than 50
employees, premiums could be as much as 3 percent lower under the legislation than they would be
under current law in 2016, according to the CBO’s projections.
4– KPA CONFIDENTIAL –
Good News
Possible lower cost
Tax Breaks
Bad News
More Complex
Less Choice for
Employers
5. Five Things You Must Do Now
Set up appointments with your tax advisor, attorney and
insurance broker by end of June to update your benefit plans
and understand tax implications
If you have a calendar year benefit plan you will need to
redesign your healthcare plan to extend coverage to adult
children up to age 26, eliminate lifetime dollar limits and
remove pre-existing condition exclusions, if any, for children
up to age 19. The deadline for compliance is
January 1, 2011. There will be additional regulations related
to this provision so make sure your broker or agent is
keeping you up to date
If you provide an FSA (Flexible Spending Account) you will
have to narrow allowed spending from flexible spending
accounts to bar reimbursement for nonprescription, over-
the-counter drugs, an FSA feature that the Internal Revenue
Service sanctioned in 2003. If you don’t have an
FSA, consider adding this to your benefit program.
5– KPA CONFIDENTIAL –
6. Five Things You Must Do Now
If you provide health care plans covering retirees age 55 to
64, you have to determine how to assemble claims
information to take advantage of a one-time, soon-to-start $5
billion federal reinsurance program set up by the legislation
that will reimburse employers for 80 percent of each claim
between $15,000 and $90,000
If you provide prescription drug coverage that is at least
equal to Medicare Part D to Medicare-eligible retirees. be
aware that that you are about to lose the associated tax
break, effective in 2013. While the government-provided
subsidies, which can run more than $500 per retiree, will
continue to be tax-free, employers collecting the cash no
longer will be able to take a tax deduction for retiree
prescription drug costs equal to the subsidy. Talk to your
accountant as these changes must be reported immediately
6– KPA CONFIDENTIAL –
7. Employer Responsibilities 2010 →
• Make sure your plan does not have a ban on lifetime limits.
Effective six months from enactment, the law prohibits
insurers from imposing lifetime limits on benefits
• No bans on discrimination based on pay. Beginning six
months after enactment, the law prohibits new group health
plans from establishing any eligibility rules for healthcare
coverage that have the effect of discriminating in favor of
higher wage employees
• Breaks for Breastfeeding- The legislation will amend the Fair
Labor Standards Act to require that employers provide
unpaid breaks for employees to express breast milk. The
legislation will also require that employers provide a private
location for employees to have these breaks.
7– KPA CONFIDENTIAL –
8. Employer Responsibilities 2010 →
• Ban on Lifetime Limits. Effective six months from
enactment, the law prohibits insurers from imposing lifetime
limits on benefits
• Ban on Discrimination Based on Pay. Beginning six months
after enactment, the law prohibits new group health plans
from establishing any eligibility rules for healthcare coverage
that have the effect of discriminating in favor of higher wage
employees.
• Breaks for Breastfeeding. The legislation will amend the Fair
Labor Standards Act to require that employers provide
unpaid breaks for employees to express breast milk. The
legislation will also require that employers provide a private
location for employees to have these breaks.
8– KPA CONFIDENTIAL –
9. Employer Responsibilities 2012 →
• There is a new requirement mandating employers to report
on W-2 income statements distributed in 2012 the cost of
employer-provided health care coverage
• FSA (Flexible Spending Accounts) are capped at $2500
effective 2013
• The Medicare wage tax increases 0.9 percent and a new 3.8
percent tax for those earning over $200,000 ($250,000 for
married couples filing jointly on passive business income)
effective 2013
• Beginning in 2014, the legislation will require an employer
with more than 50 full-time employees to pay $2,000 per
employee if the employer fails to offer health coverage and
has at least one full-time employee receiving a premium
assistance tax credit or cost-sharing reduction created by
the legislation. The first 30 employees of the employer will be
excluded from the calculation of the penalty
9– KPA CONFIDENTIAL –
10. Employer Responsibilities 2010 →
• Ban on Lifetime Limits. Effective six months from
enactment, the law prohibits insurers from imposing lifetime
limits on benefits
• Ban on Discrimination Based on Pay. Beginning six months
after enactment, the law prohibits new group health plans
from establishing any eligibility rules for healthcare coverage
that have the effect of discriminating in favor of higher wage
employees.
• Breaks for Breastfeeding. The legislation will amend the Fair
Labor Standards Act to require that employers provide
unpaid breaks for employees to express breast milk. The
legislation will also require that employers provide a private
location for employees to have these breaks.
10– KPA CONFIDENTIAL –
11. Employer Responsibilities 2012 →
• There will be a ban on annual limits. In 2014, the
use of annual limits will be banned for new plans
in the individual market and all employer plans.
Before that ban goes into effect, there will be
restrictions on annual limits for new plans in the
individual market and all employer plans
• In 2014, waiting periods exceeding 90 days for
coverage will be barred, pre-existing condition
exclusions no longer will be allowed for any
employee Employers will face a $3,000 penalty for
every employee whose premium contribution
exceeds 9.5 percent of family income and the
employee opts for coverage in state insurance
exchanges that will begin operating that year
11– KPA CONFIDENTIAL –
12. Employer Responsibilities 2012 →
• Tax on “Cadillac” Plans. Beginning in 2018, there
would be an excise tax on any “excess benefit” of
employer-sponsored coverage. The legislation
defines “excess benefit” as one that exceeds
$10,200 for individual coverage and $27,500 for
family coverage. The thresholds would be indexed
to inflation
• Health insurance premiums in 2018 exceeding
$10,200 for individual coverage and $27,500 for
family coverage will face a 40 percent excise
tax, with the cost threshold triggering the tax
slightly higher for plans covering retirees and
employees in certain high-risk industries.
12– KPA CONFIDENTIAL –
13. Special Provisions for Small Businesses
Effective 2014
• States must set up health insurance pools called SHOP exchanges (Small Business
Health Options Programs). These allow small business to o group together to buy
health insurance.
If you offer your employees health insurance:
• You must cover no less than 72.5% of the cheapest health plan you offer for
individuals, and no less than 65% for families.
•
You must automatically enroll every employee in a health plan with the lowest
employee premium, unless they opt out.
If you choose not to provide health coverage:
• You must pay the Health Choices Commissioner (the person in charge of the SHOP
exchange fund) 8% of the average wages paid during a predefined period of enrollment.
They charge you a lower percentage if your annual payroll is less than $400,000.
You will face fines if you:
• You don’t cover your employees and don’t pay your SHOP fee. You’re fined $100 per
violation day.
•
You try to entice a high-risk (sick) employee away from company-provided insurance
and towards the SHOP to try to save yourself money.
Don’t forget:
• If you operate as a partnerships, each partner counts as an employee.
• Small businesses designation varies by state
13– KPA CONFIDENTIAL –
14. Tax Credits For Small Business
• Who gets the most tax credits? Very small companies(10 or
fewer employees) with low-wage workers
• Companies with more than 50 employees won’t get any tax
credits specific to healthcare reform (but other credits are
available)
• Employers can get a 35% tax credit if they have 10 or fewer
employees, and they earn less than $25,000 on average
• Employers could receive a 50% tax credit if you’re a
company with 10 or fewer employees who earn less than
$25,000 on average
• Employers qualify for a smaller tax credit if they have 25 or
fewer employees with an average wage $50,000 or less
• Employers don’t get a tax credit if they have more than 25
employees. Also, any employee who earns more than
$80,000/year will be excluded from the credit
14– KPA CONFIDENTIAL –
15. Don’t Forget To…
• Set up a benefit plan review with your attorney and insurance
broker by the end of June.
• Update your plans to cover dependents, narrow FSA allowed
spending (and retiree coverage if applicable
• Take advantage of tax credits to offset costs
• Start planning for the future:
– You will be penalized $750 per full-time employee if you’re a company with 50 or more
employees, and you don’t provide health insurance. Employers are not charge for the first 30
workers you don’t cover. (Effective 2014)
– You will not be penalized if you have fewer than 50 employees.
– You face additional fines if you don’t cover 60% of overall employee health costs, as well
government-defined set of services.
If you pay more than $10,200 per year for your individual employee’s health insurance
coverage, or more than $27,500 for family health coverage, the government will charge your
insurer a 40% excise tax on the portion you pay that exceeds the amounts above. That means
higher premiums for you–or your employees. Dental and vision isn’t included in the tax.
• Stayed tuned, the legislation and compliance requirements
continue to evolve
15– KPA CONFIDENTIAL –
17. Contact Information
17– KPA CONFIDENTIAL –
The recorded webinar and presentation slides will be emailed to
you today including your local representative’s contact information.
www.kpaonline.com
kcarlson@kpaonline.com
866-288-8765