HUMAN RESOURCES SERVICES
ACA Compliance, Technical Automation and Integration Experts at Your Service!
Our firm specializes in technical benefits system to put the administration task on auto pilot while your staff focus on what's most important. We also keep up with the most recent changes in legislation concerning the Affordable Care Act, to help our clients with the following:
Design benefits to meet the requirements of the ACA.
Assist with ACA reporting.
Provide employer training and education on complying with the ACA.
Handle all employee forms and notices, and more
The new ACA laws are complex, to review the entire 1000 page comprehensive law download a copy below, or to review the brief highlights of the ACA that apply to both Employers and Individuals click the toggle below.
Save On Your PremiumsIndividuals and Small Businesses may be eligible for a tax credit under ACA healthcare reform laws. Thus, the credit is applied as a discount on your monthly insurance premium. Accordingly, to see if you are eligible for a tax credit, please use the Subsidy Calculator provided by the Health Insurance Marketplace. Or, if you are a business, use the Small Business Tax Credit Calculator provided by the Health Insurance Marketplace. In any case, both businesses and individuals must purchase benefits through the Health Insurance Marketplace to secure their tax credit. However, note that you must purchase benefits through the Health Insurance Marketplace to secure your premium discount. Visit the tax center online resource for small business, watch video for more information
Avoid Tax PenaltiesEMPLOYERS: Employers who have more than 50 full-time equivalent employees must offer those employees benefits that pay for 60% of the minimum essential benefits. Accordingly, if you are in non-compliance, you will incur a penalty of $2,140 per year multiplied by the number of full-time employees, and excludes the first 30 employees. Additionally, the penalty is increased each year by the growth in insurance premiums. However, note you may also incur a penalty when at least one of your employees receives a premium tax credit in the Health Insurance Marketplace (Exchange).
Underwriting Guidelines Of The ACA
- There is no longer a pre-existing condition clause. In other words, insurance companies can not increase rates or deny coverage because of a pre-existing condition.
- Your dependents can remain on you policy until they turn 26 years old.
- Insurance companies can not consider gender when setting rates.
- Employer renewals must be based on the same rates as new business.
- The waiting period for employer benefits should not exceed 90 days.
- Ambulatory patient services
- Emergency services
- Maternity and newborn care
- Prescription Drugs
- Mental health and Substance Abuse disorder services
- Rehabilitative and habilitative services and devices
- Pediatric services, including oral and vision care
- Preventive and wellness services, and chronic disease management