As of January 1, 2014, the Patient Protection and Affordable Care Act will require all individuals in the U.S. to have some form of health insurance. While this will impact ALL businesses, employers with 50 or more full-time equivalent employees will be required to either provide affordable health insurance coverage for all employees, pay defined penalties and send employees to a Health Insurance Exchange to purchase insurance, or develop a new hybrid health insurance plan.
Eide Bailly is taking a lead on helping its clients comply with this Act. Ross Manson, health care consultant, answers the question, “Am I a large employer or a small employer?” in this video. We encourage you to learn more at http://www.eidebailly.com/healthcarereform , as all businesses must comply by January 1, 2014.
Businesses have more choices now than ever before, but determining the best plan can be confusing and complicated. Eide Bailly has developed a proprietary calculator to help you quickly and efficiently analyze your specific situation, so you can select and implement a plan that works well for your company and your employees. For more information, click here: http://www.eidebailly.com/services/health-care-reform
Complimentary Health Care Reform Toolkit
As health care reform becomes reality, it is important to keep abreast of new developments and changes in order to comply with federal regulations. This may seem like a daunting task given the extensive requirements. To help, Eide Bailly has created a toolkit to provide you with information on the regulations, deadlines and links to forms that need to be completed.
Click the link below for details on how to access your Health Care Reform toolkit today!
Question:I am a full-time permanent employee. My employer has asked me to return to a Temp Agency and lose all of my permanent employee benefits. He has told me if I do not voluntarily comply, I will be fired. He is doing this to help himself comply with the “under 50 permanent employee” rule.
Is this legal? If I do refuse to return to the Temp Agency and am fired, would I be allowed to file for unemployment benefits?
Answer: This is a valid question that many employees may be facing in the upcoming year. However, this is more of a legal question for an employment attorney. Currently there is nothing in the Affordable Care Act that addresses whether or not employers will or could face legal action for terminating employees or making them work full-time for a temp agency to avoid having to offer them insurance. There will be additional guidance on the Affordable Care Act over the next year. Whether or not this will be addressed in the guidance though is unclear.
The Department of Treasury announced yesterday that businesses with more than 50 full time employees now have until January 1, 2015 to provide affordable health insurance or pay penalties.