Health Care Reform: Are You "Ready to Pay or Play?"
Even though most employers won’t face the “pay or play” decision until early next year, if there is any doubt in your mind that you are a “large employer” of 50 employees or more, the record-keeping you need to be doing is right now!
Additionally, the absolute “drop-dead” date for starting to track hours to construct a look-back period for variable schedule hourly employees, under most circumstances, is July 1, 2013 – fast approaching! We need to be doing this for two reasons: (a.) to calculate FTEs if you have any doubt as to whether you’ll reach large employer status during 2013, and (b.) assuming that you determine that you ARE a large employer (of 50 employees or more), to determine for each variable hour employee whether you’ll be required to offer them health insurance beginning in 2014.
Ascentis can help! Ascentis’ May 2013 Health Care Reform Master Class is dedicated to the reporting “building blocks” you need to understand to make the best “pay or play” decision for your organization. Included within the session will be such topics as:
- Determining large employer status
- Estimating penalties that might apply to your company
- Variable hour employees: what to count, what to exclude, and when to do it
- How to treat leaves of absence and other breaks in service
- Special rules for special industries
Click here to view the on-demand class, or here to download the one-page health care reform bulletin on “hours counting and eligibility.”