Employer Regulations and the Affordable Care Act (ACA)
In 2012 the U.S. House Ways & Means Committee estimated that 80 million working hours will be spent in administrative time to bring companies into compliance with the Affordable Care Act (ACA) in 2013 & 2014. It's probably no surprise to learn that many economists are also predicting a loss of margins as a result of the new regulations.
Fortunately, Link Staffing is an experienced staffing firm dedicated to providing employers long-term solutions to the administrative burdens associated with ACA regulations. Based on the guidance of the American Staffing Association (ASA) Issue Paper on ACA, Link Staffing has developed workforce management programs to help address the specific concerns of employers that may not know what exactly their exposure may be when the legislation becomes law on Januar 1, 2014.
What Do The Changes Due to ASA Mean For You?
There are a host of ways to deal with the looming administrative and staffing burdens associated with ACA. Some companies will hire new Accounting professionals and Human Resource professionals, some companies will add a heavier workload onto their existing employees and other companies will outsource their administration and legal compliance to a third party.
Beginning January 1, 2014 all employers with 50 or more full-time equivalent employees must offer “affordable” healthcare coverage or face serious penalties. This leaves employers with a series of questions to answer:
- "What is a full-time equivalent employee"?
- "How do I determine how many full-time equivalent employees I have?"
- What is "affordable" healthcare coverage?
- What are the penalties?"
A Link Staffing Affordable Care Act Specialist can guide you through the answers to all these questions and give you some helpful hints to help you build a plan of action.