The passage of the Affordable Care Act (ACA) in 2010 heralded changes in what employers were required to provide for their employees. The act includes provisions for who must be covered, and for what. Making matters more complicated are the different requirements set for businesses of specific sizes. The publicly distributed version of the legislation alone runs over 900 pages. It can be difficult for employers to parse the document to be sure that they know what they need to do in order to maintain compliance. As an employer, you’ll want to keep some simpler resources handy to aid you in answering questions about how the law affects you.
U.S. Small Business Administration
The U.S. Small Business Administration (SBA) offers a compilation of several key resources for employers with 50 or more employees. Important topics, including the employer mandate, information reporting, and summary of benefits and coverage disclosure rules, are discussed, and links are included to documents or sites that provide more in-depth information.
Over the summer, the SBA offered webinars for employers at small businesses. A recording of the webinar can be watched here. The video provides a comprehensive overview of how the ACA affects small businesses, and beginning at 29:22, the discussion focuses on how the employer mandate applies to businesses with between 50-99 employees.
U.S. Department of Labor
The U.S. Department of Labor website has a tool designed to help employers ensure that they are compliant with the laws that affect what employers must cover regarding mental health, mothers and newborn children, and genetic nondiscrimination, among other topics.
Internal Revenue Service
The IRS website explains the Employer Shared Responsibility provisions that will go into effect in 2015. These provisions will mandate employers with 50 or more full-time employees (defined as those who work 30 or more hours per week) to offer affordable health insurance options. If they do not, and they have at least one employee who receives a marketplace tax credit, they will be subject to making payments.
There are also resources on this site (www.makinghealthcarereformwork.com) that offer easy-to-use tools to help you navigate the maze of health care changes, provisions and mandates. Be sure to bookmark this page for fast access to our easy-to-use financial calculator, webinars that separate fact from fiction, online discussions with your peers who face the same issues, an online health care reform library, frequently asked questions, and more.
These tools provide essential information and guidance to help you ensure that your health coverage is compliant with the Affordable Care Act. By using them in conjunction with speaking to a legal professional, you can choose the coverage that’s right for your business.
This content is provided solely for informational purposes. It is not intended as and does not constitute legal advice. The information contained herein should not be relied upon or used as a substitute for consultation with legal, accounting, tax and/or other professional advisers.
Deborah Dera has been a full-time writer since 2007. She has previous experience in the health care field and in the insurance industry. She currently lives in Philadelphia.