June 4, 2015 8:00 AM
In January of this year, the Federal Government began enforcement of the Affordable Care Act (ACA) for those employers with 100 or more employees. Next year, those employers with 50 or more employees will have to begin compliance with the law as well.
In a recent article on workforce.com, HR managers in large companies talked about the difficulties in compliance when it comes to calculating hours. What was troublesome for them was people who took unpaid leave under the Family Medical Leave Act (FMLA) or Re-employment Rights Act or even jury duty and how those hours would be calculated in determining healthcare eligibility. Because of that, “60 percent of large companies with more than 1,000 employees indicated that they aren’t prepared for penalty management under the ACA.”
Photo Credit: “Affordable Care Act” by Michael Havens is licensed under CC BY-ND 2.0
December 17, 2013 8:36 AM
Maneuvering through federal rules and tax regulations has never been an easy task, especially when you are simultaneously trying to grow your business. The Affordable Care Act makes those waters murkier to navigate with the various stages of implementation and rules for different sized companies.
As a small or medium sized business owner, there are some significant dates to keep in mind in 2014 as the Affordable Care Act begins to take effect.
November 26, 2013 1:21 PM
The news channels are flooded with updates on the trials and tribulations of the Affordable Care Act's website and accompanying registration process. Politics aside, the implementation of this piece of legislation could mean big changes and larger financial challenges for your health benefits plan.
Most small business owners today are able to provide some form of health insurance coverage for their employees through large commercial healthcare plans. However, with the Affordable Care Act, these plans will come at a cost for business owners. In fact, Ohio businesses are expected to see a 71% increase in these premiums.
These high increases may force you to reduce or eliminate the health benefits you are able to extend to your employees, forcing them to buy insurance from the government’s healthcare marketplace.
August 7, 2013 10:00 AM
President Obama’s administration has decided to delay enforcement of one of the key provisions in the Patient Protection and Affordable Care Act (PPACA): the Employer Mandate.
Mark Mazur, Assistant Secretary for Tax Policy at the U.S. Department of the Treasury, posted on the White House’s Treasury blog on July 2. In this post, he announced that the administration has decided to postpone enforcement of the Employer Mandate portion of the Affordable Care Act by a full year.
June 18, 2013 8:30 AM
Since the Affordable Care Act (ACA) passed in 2010, many business people and consumers have felt that their insurance costs were going to be going up. I’m sure they have never regretted being so right.