Health CareThe Patient Protection and Affordable Care Act (PPACA), upheld by the U.S. Supreme Court in June, is poised to make significant changes to the health care and insurance industry as its provisions are implemented over the next few years.
Team Software has been working diligently with health care advisors to develop solutions to help our clients comply with the Patient Protection and Affordable Care Act (PPACA), or the Affordable Care Act.
In addition to keeping up with changes, requirements and deadlines, TEAM is committed to providing our clients with the latest relevant information and resources to help you understand how this law and its provisions will affect your business.
TEAM Software presents a webinar series that will take you through the decisions you should be making now and the tools you should be using in order to make smart business decisions as the Affordable Care Act's provisions take effect. Read more and register to attend.
The Affordable Care Act essentially re-defined the threshold for full-time employment at 130 hours per month. That's important because, by law, large employers will have a shared responsibility for full-time employees' health coverage beginning January 1, 2014. In a recent article, Dwaine Sohnholz, TEAM Software Director of Business Analysis & Project Management, discusses the options available and considerations to keep in mind when selecting your measurement periods to determine full-time status for variable hour employees. Read more.
The Affordable Care Act has essentially redefined what constitutes a "full-time employee" as an individual who works 130 hours per month. While the legislation doesn't require large employers to offer health insurance coverage to full-timers, beginning January 1, 2014, penalties will be levied on those companies who do not provide it. So what are your options and how much will it cost you? Creating some "what-if" scenarios and applying financial modeling can help you make the best and most cost-effective decision for your company. Read more.
Federal regulators delayed a health care reform law requiring employers to notify employees in writing by March 1, 2013 about the availability of public health insurance exchanges. This change was issued in a joint announcement from the Departments of Health and Human Services, Labor and Treasury on January 24 (just 36 days before the deadline). While a new date was not set, the Department of Labor expects that the timing will be late summer or early fall of 2013, which will coordinate with the open enrollment period for Exchanges. See this Department of Labor link for details.
Large employers in the United States have a new business cost to contend with beginning January 1, 2014, and many are now working through the "Pay-or-Play" decision process presented under provisions of the Patient Protection and Affordable Care Act (PPACA). Under the basic terms of PPACA, large businesses must choose to offer affordable, minimum essential health coverage or incur an annual penalty of $166/month per full-time employee (excluding the first 30 FTE). So how do you count the employees for whom you will have a shared responsibility for health coverage? Read more.
