Health Care Reform

The Affordable Care Act (ACA) worked hard to encourage small employers (generally those with fewer than 100 full-time equivalent employees, though state-specific requirements can also apply to state-run Exchanges) to provide health insurance to their workers. Chief among its efforts to ease accessibility and favorable pricing is the Small Business Health Options Program, or SHOP.

Successfully managing health care costs may be a hallmark of a best-in-class employer, according to “The Best-in-Class Benchmarking Analysis” from Arthur J. Gallagher & Co., an international insurance brokerage, and risk management services firm. But health care costs can be notoriously difficult to contain; what can you do? 

Prevent costs before they arise.

Just as 2015 was, 2016 is shaping up to be another big year in health care reform. Here's what is on the horizon, so far, for health care reform in 2016.
On November 15, the Health Insurance Marketplace will begin open enrollment for coverage effective in 2015.
This on demand webinar from CoAdvantage will help you business prepare for 2015 and potential health care reform penalties.
This year, the Internal Revenue Service released draft forms for employer reporting of health coverage. These draft forms are intended to prepare stakeholders (such as employers) for new reporting provisions under Internal Revenue Code Sections 6055 and 6056.
For decades, a 40 hour work week was the standard for defining full-time employment. The great majority of employers have used this guideline to determine eligibility for employer-provided benefits such as health, dental, life, vision, disability and other group insurance plans as well as 401(k), paid time off and other employer-provided perks.
Starting in 2015, employers with 100 or more full-time equivalent employees (FTEs) are required to offer minimum essential coverage (MEC) to full-time employees (those working 30 or more hours per week or 130 or more hours per month) that is affordable and meets minimum value (MV) guidelines. Failure to do so may result in a Pay or Play penalty equal to $250 per month in the event that the employee receives subsidized coverage through the public health care exchange.
New tools for small employers purchasing coverage through SHOP.
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