Be Healthcare Reform Ready with Oasis
The Affordable Care Act (ACA) has added unprecedented layers of complexity and regulatory rules to businesses of all sizes. The legislation includes various provisions that require businesses not only to comply (or risk penalties) with providing health insurance based on employee count, but also to track employee hours and submit additional government reporting. Are you aware of and ready to tackle the following items:
- Determining how many full-time employees you have, including the calculations for your variable-hour employees?
- Continually tracking your employee hours each month after the initial determination to determine if your counts are at 50 full-time or full-time equivalent employees?
- Determining if transition relief applies to your business and if so, what it entails?
- Understanding what minimum essential coverage (MEC) is, and determining if you need to provide it?
- Understanding the two-prong penalty process based on minimum essential coverage and minimum value and which, if any, apply to you?
- Understanding and fulfilling the 6055/6056 IRS reporting requirements?
- Distributing Exchange Notices to all new employees within 14 days of their start date?
Healthcare Reform has added a substantial amount of administrative work to the average business owner’s plate. If you feel unprepared in any of these areas or just burdened by the amount of work required, Oasis can help. Oasis, as the nation’s largest privately held Professional Employer Organization (PEO), provides expert guidance and, in some cases, relief from the compliance requirements of this legislation.
Get help with ACA today! Contact us at 866-AT-OASIS (866-286-2747) or by requesting a consultation.