Published on March 13, 2014
EPAYsystems.com Tuesday, April 8th 12 p.m. CDT Register Here Affordable Care Act Webinar: Achieving Compliance, Containing Costs & What You Should Be Doing Right Now
EPAYsystems.com 2 | Employer Mandate – Large Employers Only o Threshold for “Large Employer” = 50 Full-time Equivalent Employees in prior year o Full-time employees = 30 hours per week, on average #FULL-TIME EMPLOYEES Aggregate # hours worked/ month by part- time employees up to 120 ________ Divided by 120 #Full-time equivalent employees You must count all employees working for any company within the corporate family (as determined by IRS rules)
EPAYsystems.com PENALTY THE LESSER OF: $2,000 x (Total No. of Full-Time Employees – 30) $3,000 x No. of Full-Time Employees who receive a tax credit or subsidy and purchase coverage through an Exchange 3 | Inadequate Coverage Penalty
EPAYsystems.com 4 | • Examples* ► Part-time employees ► Hourly employees with fluctuating schedules ► Seasonal employees *These are merely examples of individuals that might be considered variable hour new hires. Facts and circumstances may limit an employer’s ability to treat these employees as variable hour new hires. • NOTE: Expected (short) length of employment can be taken into consideration, but only for 2014 What is a “Variable Hour” Employee?
EPAYsystems.com 5 | Special Rule: Breaks in Service Length of Break Length of Employment Result Upon Rehire More than 26 weeks N/A Treat employee as new hire (i.e., start new measurement period and disregard prior service) Less than 26 weeks but more than 4 weeks Shorter than break Treat employee as new hire (i.e., start new measurement period and disregard prior service) Less than 26 weeks but more than 4 weeks Longer than break Continue existing measurement period (0 hours counted during break*) OR Continue coverage for remainder of stability period Less than 4 weeks N/A Same as above
EPAYsystems.com • Compare all employees average hours to ACA guidelines to determine total FTE’s • Will give total Full Time Employees (> 30 hours) • Will give total Part Time Employees (< 30 hours) • Total the two to determine total FTE’s • Could also use alerting to ensure employees not going over 30 hours per week ACA Dashboard
EPAYsystems.com Affordable Care Act Webinar: Achieving Compliance, Containing Costs & What You Should Be Doing Right Now Tuesday, April 8th 12 p.m. CDT Featuring Attorney Jennifer Kraft, Seyfarth Shaw LLP Register Now
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