Affordable Care Act Delays and Deadlines: A PT Benefits Guide To Recent PPACA Changes And Upcoming Healthcare Reform Benchmarks

affordable care act, obamacare, healthcare reform, ppaca, employer mandate

Affordable Care Act Guidelines

As the U.S. Labor Department, Department of Health and Human Services and the Treasury Department figure out Affordable Care Act guidelines and specify the deadlines for PPACA, PT Benefits offers a guide to recent changes and upcoming benchmarks related to the new healthcare reform laws and regulations. The goal is to help our clients and potential clients navigate the complex maze of healthcare reform and the Affordable Care Act. As a full service benefits agency, PT Benefits provides the guidance and the support needed to find success for your company when it come to benefits administration.

Recent PPACA Changes & Upcoming PPACA Benchmarks

One Major Affordable Care Act Delay —

1) The Employer Mandate

The mandate of the Employer Mandate of PPACA is that employers with 50 or more full-time workers or equivalents will have to pay a tax penalty of $2,000 to $3,000 per employee. The penalties will kick in if the employers fail to offer health insurance plans to their employees or if the plans they do offer do not meet ACA minimum standards. Delayed until 2015, to learn more, please check out this, check out this link to the Internal Revenue Service website.

Two Major Affordable Care Act  Deadlines —

1) Notification of Marketplace Coverage

If an employer is subject to the Fair Labor Standards Act, they are required to notify all their employees of the health care options available by October 1, 2013. At the time of hiring, each employee must be provided with a written notice. The written notice must inform the employee of the existence of the Marketplace, including a description of the services provided. Under the regulations of the Affordable Care Act, the employee must also be made aware of how to contact the Marketplace to request assistance.

In practice, this requirement affects the majority of employers. FLSA applies to employers with at least two employees and $500,000 in annual revenue or sales. What is intriguing is the requirements also applies to hospitals, nonprofits, schools and government agencies. Notices in the workplace must tell employees whether their employer-sponsored plan meets the minimum value standard.

In addition, within the parameters defined by PPACA, employees must be informed of whether or not the employer’s plan is considered affordable. Employees also need to know whether or not they can qualify for a premium tax credit if the insurance offered by the employee fails to meet these benchmarks. It is the employer’s responsibility to inform their employees across the board. With the Oct. 1, 2013 deadline already passed, to learn more, check out this link to the website of the U.S. Labor Department.

2) Employee Status

The delay of the employer mandate  of  the Affordable Care Act does not delay the necessity of employers to start collecting information needed to manage the potential penalty they will have to pay if they violate the Employer Mandate of 2015. If an employer wants to minimize their tax exposure, a 12-month period will have to be chosen to measure employee job status. Such a period can only be chosen if the proper records have been kept and the reporting requirements have been met. Without question, any employees determined to be working full time will need to be offered coverage in 2015. If they are not offered insurance, the employers will be liable for the penalty. With the deadline being in the fall of 2013, to learn more, check out this link to a PDF from the Internal Revenue Service website.

Since PT Benefits understands how intimidating and overwhelming healthcare reform and the Affordable Care Act can be for small to mid-sized business owners, we hope this guide has been helpful. As benefits administration experts, we provide the guidance our clients need to navigate through the maze of potential fines and trouble. To learn more about how we can help you, please call 866-782-9899 or fill out our handy contact form.

 

Raphy Timour

About 

Co-Founder at Pontrelli, Timour & Associates, Inc.

A California native of Pasadena, Raphy Timour began his career at Automatic Data Processing as an outside sales representative, achieving President Club status each and every year at ADP. Wanting to provide clients with a more customercentric approach, Raphy Timour started Pontrelli, Timour & Associates, Inc. in 2003 with his childhood friend Chris Pontrelli. Raphy Timour has a Health & Insurance License from the California Department of Insurance.

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