ACA: Affordable Care Act
Look Back Periods, Stability Periods, Tracking Employee Hours, and Reporting are all new issues we recognize that you must handle in today’s environment. Arc Technologies is committed to helping you address each of those areas within Eight.
Track Hours – establish a data base to capture and track Actual Paid Hours, Paid Not Working Hours, Unpaid Leave – Eligible, and Unpaid Leave – Ineligible hours.
Track Employee Status – Full Time, Variable Hour, Part Time, and Seasonal.
Track Eligibility and Enrollment – Notify appropriate User in Eight, when an employee becomes eligible, documenting the acceptance or decline of coverage.
Reporting – workforce management reporting to enable manager’s access to the key data necessary for workforce planning purposes. As well, we will provide the additional reporting necessary for the IRS under Section 6056.
The Affordable Care Act (ACA) and What Employers Should Know:
The Patient Protection and Affordable Care Act of 2010 (ACA), was enacted to establish near universal health care in the United States. In order to achieve this, Congress had to:
- Implement insurance market reforms;
- Establish health care exchanges;
- Expand Medicaid;
- Create incentives to deliver quality healthcare and coordinate medical treatment among doctors;
- Increase consumption of preventative care;
- Require transparency; and
- Establish minimum standards for health insurance policies.
Within the ACA, there are a number of provisions that employers need to know. The sections of the ACA that impact employers include:
- Health Insurance Market Reforms;
- State High Risk Pools;
- Health Insurance Exchanges;
- Individual Mandate;
- Tax Credits for Small Employers;
- Subsidies for Low Income Individuals;
- Employer “Pay or Play” Provision;
- Automatic Enrollment;
- Employer Notice to Employees of Exchanges;
- Employer’s Returns to the IRS and Disclosures to Employees; and
- Tax Provisions.