Labor Finders Offers Relief Concerning Your Companies ACA BluesJanuary 16, 2015
By Jonathan Klorfein, CSP, Director of Client Services of Labor Finders International
The Patient Protection and Affordable Care Act (ACA) is the most sweeping health care legislation in decades and will have a dramatic effect on many employers.
Starting January 1, 2015, those companies deemed as "large employers", defined as companies with 100 or more full-time or full-time equivalent employees, will be subject to new "employer shared responsibility" ("pay" or "play"). Employers that do not offer "minimal essential coverage to at least 70% of full-time employees and their dependent children under age 26 will be assessed a monthly excise tax of $167 (up to $2000 annually) multiplied by the number of the employer's full-time employees (excluding the first 80). Employers that do offer minimal essential coverage will not subject to excise taxes unless the plan is deemed either "unaffordable" to the employee or does not provide "minimal value". In such cases, the employer will be assessed a monthly excise tax of $250 (up to $3000 annually) for any employee who qualifies for a government subsidy to buy coverage in a public health insurance exchange.
Let Labor Finders take away your ACA Blues. In order for us to meet the complex details of this legislation, Labor Finders has implemented a fully compliant ACA program. We strongly support compliance with the ACA and are committed to the legal and ethical management of our workforces pursuant to the law's provisions, in letter and spirit.
For more information on how Labor Finders can assist you concerning the ACA and your business, contact your local Labor Finders office by going to our "Office Locator" on our homepage.