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Affordable Care Act

Build Back Better Act: Provisions That Will Impact Employees

By Affordable Care Act, Build Back Better Act

The U.S. House of Representatives passed the Build Back Better Act (BBBA) on November 19, 2021, a sweeping legislation that could significantly bolster employee protections and benefits. While the Act is far from being passed, some of its provisions are generating buzz for both employers and employees. Backers of the legislation hope that by addressing many workers’ pain points, more people can get back to work with fewer hurdles. Affordable Care Act (ACA) Amendments. The…

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Understanding Reporting Requirements for Employers Under the ACA

By Affordable Care Act, Benefits & Insurance

As established by the ACA in 2015, certain employers are required to report to the IRS whether they offered health coverage to their employees and information about the coverage provided. Employers report this on the 1094/1095 series of forms and must also furnish the information to their employees by January 31, 2021. Under the employer shared responsibility provisions of section 4980H, the information reported is used to determine if an employer is potentially liable for…

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Summer Interns – What Compensation Does the Law Mandate?

By Affordable Care Act, Best Practices, Employment Law, Hiring, Interns, Payroll, Policies and Procedures

If you are hiring – or have hired – summer interns, are you up to date on how you need to compensate them, if at all? Traditionally, most interns worked over the summer for the experience and to build their resumes. However, unpaid internships have come under more scrutiny in recent years, not only regarding wages but also for potential benefit eligibility under the Affordable Care Act. Historical guidance, as reflected in the Department of…

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If You Don’t Provide Group Insurance to All Workers, Read This!

By Affordable Care Act, Benefits & Insurance

Have you reminded your self-insured employees to sign up for a 2019 Marketplace plan, yet? This year, the enrollment period is shorter than in previous years—it runs through Saturday, December 15, 2018. (Workers in hurricane-affected areas may have until December 31, 2018.) After that, workers cannot get 2019 coverage unless they qualify for a Special Enrollment Period. On the plus side for the uninsured, the individual mandate, which requires those not enrolled in an approved plan…

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Employer Planning Strategies for the 2018 Healthcare Laws

By Affordable Care Act, Benefits & Insurance, Employee Retention

With the ACA very much alive as we head towards the start of 2018, many employers may be adjusting their health insurance strategies. Applicable large employers—those with 50 or more FTEs—full time equivalent employees; a blended combination of full-time (30 hours per week) and part-time personnel—must provide “affordable” health insurance or face stiff penalties that are increasing again in 2018. For employers of fewer than 50 FTEs—small and midsized businesses (SMBs)—the mandate does not apply….

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Big Jump Predicted for Group Health Plans in 2018

By Affordable Care Act, Benefits & Insurance, Employment News

Group health plan costs will nearly double the increase businesses experienced in 2017, according to surveys conducted by varied business advocacy groups. Plan costs are expected to rise 4.3 percent, even after plan changes and other measures to reduce costs. Without changes, the rise would be closer to 6 percent. That figure is far below the rises business owners experienced around the turn of the millennium, when they rose as much as 14 percent in…

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Affordable Care Act Tax Statements: A Primer

By Affordable Care Act, Employment Law

The Affordable Care Act (ACA; also known as Obamacare) requires all Applicable Large Employers (ALEs) to offer their employees health insurance. In general, employers qualify as ALEs if they have at least 50 full-time employees, including full-time equivalent (FTE) employees—a combination of part-time employees that count as one or more full-time employees. Each year, employers must send a statement—Form 1095-C—to all employees eligible for coverage. Form 1095-C involves numerous special codes, some of which can…

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