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Oasis, A Paychex® Company, is one of the nation's leading Professional Employer Organizations (PEOs), providing clients with Human Resource Services, Payroll Administration, Employee Benefits Administration and Risk Management Services. Oasis has clients in all 50 states and in many different industries. Oasis tailors its HR solutions to address specific challenges within a number of industries. To learn more, please click below.
Insurance carriers and group health plans (including self-insured employer plans), must provide a Summary of Benefits and Coverage (SBC) to all participants and beneficiaries who enroll or re-enroll in group health coverage through open enrollment periods beginning on or after September 23, 2012.
Employers are required to report the aggregate cost of employer-sponsored health coverage on employee W-2s beginning with the 2012 tax year reporting in January 2013. The IRS has issued payroll reporting guidance for employers to support compliance with the Patient Protection and Affordable Care Act. The purpose of these guidelines is to clarify the health insurance-related items that must be reported on employee W-2s effective with 2012 forms issued no later than January 31, 2013. The reporting requirements apply to all employers who provide applicable employer-sponsored coverage.
On June 28, 2012, the U.S. Supreme Court upheld key components of the Affordable Care Act (ACA), including the individual mandate and the employer mandate. To make it easy to see how these changes affect you, your business and your employees, Oasis Outsourcing has created a Healthcare Reform Impact on Employerschart. This chart summarizes key provisions, timing and the support we can provide, as well as guidance on which key provisions impact all employers versus those that impact businesses based on the number of employees.