All About ACA Employer Mandate
by Alta Alexander
Without a doubt, the topic Affordable Care Act is something many individuals are familiar with already. It is called Obamacare as well. Still, many workers are not sure how this will affect the health care benefits they are receiving.
Companies may now begin to offer healthcare insurance to employees especially those that have previously not. Coverage may no longer be offered by other firms. However, Americans will most likely not notice any changes when it comes to the health benefits offered by their employers. Health insurance providers compete in federal or state operated arenas known as public insurance marketplaces which provide access to health insurance following the <A href="http://www.smallbusinesshealthoptionsprogramhelp.com">ACA employer mandate</A> for small groups and individuals. This means comparing health insurance products will be made easier.
Under this act, it is the responsibility of employers to provide health benefits to their employees. Majority of the time, organizations that do not offer heallth benefits to their employees are affected. New requirements on businesses are imposed. The rules took effect last January 1, 2015 for those businesses with fifty or more full-time equivalent and full-time employees. On the other hand, businesses with fifty to one hundred full-time equivalent and full-time employees that meet specific requirement will start following this on January 1, 2016.
Most companies are required to offer a group health program to not less then 95 percent of the full time workers. If not, penalty will be imposed. Offering not enough coverage may result to penalty as well. Rates are reduced as a way to encourage small companies to offer health insurance to their workers in terms of the subsidized programs available in the marketplace.
Employees do not have to do anything if they have insurance through their employers, a public program such as VA, Medicaid, Medicare or a private policy that they have purchased for themselves. Uninsured employees, on the other hand, who are not qualified for an exemption need to pay a penalty when they file taxes.
Employees working not less than 30 hours each week should be provided with coverage by their employers. Even if the workers only work part-time, this is still applicable if the company has not less than fifty employees working full time. This is, however, up to the employers. Employees can definitely save more money if they acquire a plan from marketplace compared to the health coverage their company may offer.
A third party company may retain contract as well as temporary workers for legal business purposes. These workers are generally considered workers of the staffing company. In most instances, the staffing company has to abide by the said Affordable Care Act most especially if they are equipped with full time workers who are eligible. Most reputable companies will offer worker health benefits by means of qualified candidate access specifically for contract, sizeable temporary and consultant workers.
It cannot be denied that a lot of employers are confused because of the complexity and sheer size of this act. In addition, majority of them do not know when to follow the requirements, which ones they need to follow and are confused with various deadlines which may be considered disadvantages.
You can visit <a href="http://www.smallbusinesshealthoptionsprogramhelp.com">www.smallbusinesshealthoptionsprogramhelp.com</a> for more helpful information about Information About ACA Employer Mandate.
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New Unique Article!
Title: All About ACA Employer Mandate
Author: Alta Alexander
Email: nathanwebster335@live.com
Keywords: insurance, finance, business, economics, economy, sales, marketing
Word Count: 525
Category: Insurance
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