The President discussed healthcare reform implementation at length during his news conference last week and this is critical for your business because he directly mentioned the new exchange application and this document alone could trigger penalties for applicable large employers (those over 50). Those who are in favor of Obamacare repeal often cite this part of the law. It has caused significant heartburn for businesses of all sizes.
The consensus of the industry experts is employee education is paramount to reduce risk, control costs and retain productivity. The panel covered a lot of ground and addressed many questions. It probably provoked more but we are here to help you navigate this maze. It is important you confront this issue head on and not be reactionary. If you are looking for an Obamacare summary on important issues check out our resources below.
See below for a webinar video including some strategies by Sean McGuire and E.D. Bellis analyst, Brian Munderloh. Also, sign up to receive our exclusive newsletter and more information on the Obama healthcare bill as it surfaces. Connect with us on Twitter @AmericasCanary. If you are a fan of talk radio check out radio program America’s Healthcare Challenge.
Be aware of the ACA pay or play mandate. This provision is important because it requires businesses with more than 50 full-time equivalents provide coverage to full-time workers. It also creates administrative challenges for companies of all sizes due to technical detail businesses need to be aware of now. These include establishing a measurement period for part-time employees, planning for when coverage needs to be offered and additional compliance requirements.