AFFORDABLE CARE ACT: Countdown to Compliance
The Internal Revenue Service recently issued guidance intended to ease the administrative burden of offering group health insurance within 90 days of an employee’s hire date.
The Affordable Care Act’s shared-responsibility provision requires most individuals to secure health insurance or pay a penalty that starts at $95 or 1 percent of income. A person is subject to the law’s fine if he or she is without health insurance for more than 90 days during the year.
Most health plans don’t start coverage until the first of the month. And most employers use irregular hire dates, so waiting 90 days from the date of hire can run the risk of violating the federal law’s shared-responsibility provisions.
Employers are now allowed to have a one-month “orientation period” or an evaluation or training period from the date of hire for up to one month. If this and other news about the Affordable Care Act has you confused, pick up the phone and call us now. 727-796-9660.
Small Business Health Options Program (SHOP)
We will still continue to offer the plans and programs today that we did yesterday, and if something new comes along tomorrow we think you might be interested in, we’ll show you that, too. You can still count on us to be here to help and advise you through your options and choices, just like we have been for over 50 years. Got questions? Pick up the phone and call us. We’re still here.