Even though the employer shared responsibility provisions of the Patient Protection and Affordable Care Act (PPACA) were delayed and will not take effect until January 1, 2015, employers should have prepared for their compliance strategies in 2013. However, if you were a procrastinator now is the time to review.
Business owners and payroll personnel will want to determine if the employer mandate will apply to their company. If PPACA’s ‘shared responsibility’ provisions do apply, employers need to prepare in 2014 to ensure a smooth transition in 2015. Several issues need to be addressed to mitigate any potential challenges, covering issues such as how the baseline measurement period is calculated and the adequacy of coverage requirements are met.
Here are some of the most common questions employers have:
- Will my company have to comply with employer-shared responsibility provisions?
- What kind of insurance will my company have to provide?
- To whom will I have to provide insurance?
- What about seasonal, per diem, or part-time employees?
Employee Benefit Advisors has a FTE Worksheet to help companies determine these answers. Contact us if you’re interested in using it to help evaluate your course of action.