Open Enrollment season is here!
Still many doubts… many questions… unanswered?
TeemWurk is here to answer all your doubts relating to ACA compliance, benefits management, employer roles, etc.!
#1 Employer Responsibilities Under ACA
Affordable Care Act mandates all applicable large employers to provide health benefits to their employees. As per the Employer Shared Responsibility Provision, employers who do not offer the coverage or their coverage does not meet the minimum essential coverage requirements, will be subjected to pay penalties. This article is a tell-all on ACA’s Employer Mandate!
#2 Top Compliance Concerns
As majority of employers are affected by the Affordable Care Act and are still struggling to meet the complex provisions and requirements of the law, the question in concern is What are the top ACA Facts That You Must Know To Stay Compliant and What Major Challenges Companies Face and How To Overcome Them?
#3 Impact of Cadillac Tax
Cadillac Tax or the 40% non deductible tax was initially supposed to affect only the luxury heath care plans, but many believe it is going to largely affect the benefits industry and can affect millions of health coverage plans. Find out everything about Impact of Cadillac Tax on Employers & Employees!
#4 Role of Brokers or Benefit Professionals
The season of Open enrollment is that crucial time when healthcare agents and brokers are the most called upon for advice and guidance on various healthcare aspects. Thus, they need to be ready for all the answers from explaining different coverage options to legal requirements to how technology can help. Here is How Do Employers Benefit From An Insurance Broker?
#5 Integration of Technology & Benefits
Till now, ACA is one of the most complex health care laws set forth in front of Americans, that just don’t let employers, employees and brokers relax for a moment. With the ever-changing provisions and a lot of regulations to be taken care of, none of the individual involved gets a chance sit back and relax. This has resulted in employers’ sudden inclination towards software and technology to make things simpler. Find out How ACA, Compliance & Technology Co-exist!
Having learned about all these terms, their significance and impact will help you carry out this year’s open enrollment period smoothly with employees making more well-informed decisions and employers staying fully complaint and avoiding any penalties!