Company LOGO Click to add subtitle 2014 – 2015 Thank You For Joining Telepayroll’s ACA Webinar – We Will Begin At 10:00 AM
Welcome message from author
This document is posted to help you gain knowledge. Please leave a comment to let me know what you think about it! Share it to your friends and learn new things together.
Transcript
Company
LOGO
Click to add subtitle2014 – 2015
Thank You For Joining Telepayroll’s ACA Webinar – We Will Begin At 10:00 AM
The Patient Protection and Affordable Care Act, or, the PPACA, was signed into law on March 23rd, 2010. Primarily referred to today as the ACA, the Affordable Care Act is the
federal legislation that includes the Employer Shared Responsibility provisions. The phrase
“Pay or Play”, represents these provisions.
History And Terminology
Agenda
2. Small or Large; FTE Employee Calculation2. Small or Large; FTE Employee Calculation
1. 2012 – 2014 Overview 1. 2012 – 2014 Overview
3. Small Employer Compliance3. Small Employer Compliance
4. Penalties and Compliance; Pay or Play4. Penalties and Compliance; Pay or Play
5. What Large Employers Should be Doing Now5. What Large Employers Should be Doing Now
6. Telepayroll Reports and ACA Services6. Telepayroll Reports and ACA Services
2012 – 2014 Overview
Employee Notice
Employee Notice
Medical Loss Ratio (MLR) Rebate
Medical Loss Ratio (MLR) Rebate
Individual Mandate
Individual Mandate
All employees must receive a Notice of Employee Coverage Options within 14 days of being hired
All employees must receive a Notice of Employee Coverage Options within 14 days of being hired
Insurers are required to provide applicable rebates for coverage to employers, who can use the rebate to reimburse employees, reduce future premiums, or improve plan benefits.
Insurers are required to provide applicable rebates for coverage to employers, who can use the rebate to reimburse employees, reduce future premiums, or improve plan benefits.
U.S. citizens and legal residents are required to have and maintain health insurance, or pay a fine starting at $95/person or 1% of income. The penalty increases every year, increasing to $695 in 2016.
U.S. citizens and legal residents are required to have and maintain health insurance, or pay a fine starting at $95/person or 1% of income. The penalty increases every year, increasing to $695 in 2016.
W2 ReportingW2 Reporting Requires employers issuing 250 or more Forms W-2 in the preceding calendar year to report the cost of coverage under an employer-sponsored group health plan.
Requires employers issuing 250 or more Forms W-2 in the preceding calendar year to report the cost of coverage under an employer-sponsored group health plan.
What about the Penalties – How do we comply
Small Or Large Employer; Full-Time Equivilent (FTE) Employees
An employer with 50 or more FTE employee is a Large Employer for ACA purposes
An employer with 50 or more FTE employee is a Large Employer for ACA purposes
1. Calculate the number of FTE employees for each calendar month;1) Number of full-time employees (employees working 30 or more hours per week) plus2) Total number of hours worked by all non full-time employees (working less than 30 hours per week) divided by 120
This is the total FTE employees for the single month
2. Add up all 12 months and divide by 12
This is the total FTE count used to determine if you area small or large employer for ACA purposes
1. Calculate the number of FTE employees for each calendar month;1) Number of full-time employees (employees working 30 or more hours per week) plus2) Total number of hours worked by all non full-time employees (working less than 30 hours per week) divided by 120
This is the total FTE employees for the single month
2. Add up all 12 months and divide by 12
This is the total FTE count used to determine if you area small or large employer for ACA purposes
ACA FTE Report
Small Employer
Gain Under ACA Provisions – Possible Tax Credits For Employers With Less Than 25 Employees
Gain Under ACA Provisions – Possible Tax Credits For Employers With Less Than 25 Employees
No “Play Or Pay” - Not Subject to Employer Shared Responsibility
Less Than 50 Full-Time Equivalent (FTE) EmployeesLess Than 50 Full-Time Equivalent (FTE) Employees
No Requirement To Provide An EmployerSponsored Health Insurance Plan
No Requirement To Provide An EmployerSponsored Health Insurance Plan
Large Employer
PLAY
Offer Coverage to Full-time employees
and their dependents
Coverage must be “affordable” and
offer Minimal Value (MV)
Minimal Esssential
coverage (MEC) requirement
100+ FTE - Subject to Employer Shared Responsibility - 1/1/1550 - 99 FTE - Subject to Employer Shared Responsibility – 1/1/16
100+ FTE - Subject to Employer Shared Responsibility - 1/1/1550 - 99 FTE - Subject to Employer Shared Responsibility – 1/1/16
Large Employer
PAY
Penalty if you offer no
coverage
• $2000 per FTE if even one employee receives a premium subsidy
• First 80 employees excluded from calculation
Penalty if coverage is unaffordable
• LESSER of $3,000 x the number of FTE’s receiving premium assistance tax credit or $2,000 x the total number of FTE’s.
Determining Who Must Be Covered
Measurement Period:3 – 12 month “look back”period chosen by employer
Stability Period: Must be the longer of 6 months or
the length of the measurement period
If employee worked average 30 hours per
week/130 hours per month during measurement
period, eligible for coverage during stability period
Measurement and Stability Period
Calculating Employees Hours
Helping Our Clients Comply
1. ACA FTE Employee Report Large or Small? Get Your FTE Count
2. ACA Eligibility Analysis Report Get Your Average Hours by Employee Get Your Employee’s Eligibility Status
3. ACA Rule of Parity Report Rehired Employee Determination for Reinstatement
4. ACA Inactive Employee Report Track Employees Inactive During The Measurement
Period
ACA Eligibility Analysis Report
Helping Our Clients Comply
1. ACA FTE Employee Report Large or Small? Get Your FTE Count
2. ACA Eligibility Analysis Report Get Your Average Hours by Employee Get Your Employee’s Eligibility Status
3. ACA Rule of Parity Report Rehired Employee Determination for Reinstatement
4. ACA Inactive Employee Report Track Employees Inactive During The Measurement
Period
What’s Next
Thank you for attending this presentation!All participants will receive a follow up email with the
following;
1. Sample ACA reports from Telepayroll2. Information about Telepayroll ACA Monitoring Services3. Information from Telepay Insurance
ACA Monitoring ServiceDorri Komarek
(800) 442-4988 ext. [email protected]
Telepay InsuranceMichael Gilberstadt
(800) 442-4988 ext. [email protected]
General ComplianceCarri Lemmon
(800) 442-4988 ext. [email protected]
Related Documents
