Are you an applicable large employer under the Affordable Care Act that must offer health insurance to your employees? Which employees must be offered coverage and by what type of insurance? What penalties might you face if you do not fully comply and how are they calculated? What notices must you provide to the federal government and when? If you’re not an applicable large employer but still provide insurance, how can you make sure you’re in compliance with new insurance reforms for all employers? This half-day class will give you the tools to determine your obligations under and compliance with the Affordable Care Act, also known as Obamacare. An overview of the law and its history will be provided, as well as examples of calculations for full time, part time, and variable hour employees. The class will outline how to set up a measurement period and stability period, and examine the potential fines for multiple scenarios.
- Reviews the history and relevant sections of the Affordable Care Act
- Examines the definition of an applicable large employer and how full-time, seasonal, and part-time employees count towards the fifty full-time (FT) and full-time-equivalent (FTE) employee threshold
- Outlines how to determine whether variable-hour employees have a right to insurance, including establishing measurement and stability periods
- Covers the specific legal definitions of “minimum essential coverage,” “substantially all” full time employees, “affordability,” and “minimum value” for a variety of entity sizes and types (i.e. government, corporation, non-profit, etc.)
- Reviews sample calculations for the various fines for non- compliance (and provides suggestions for reducing penalties) Outlines notice and form requirements due to the IRS for compliance analysis
- Covers the ACA’s insurance reforms for all employers who offer insurance coverage, regardless of size
Human resources professionals, benefits professionals/administrators, managers, supervisors, in-house counsel, and handbook policy writers