Employee Benefits Compliance, Large Employers

Five Things All Large Groups Need to Know About Health Care Reform


1. Employer Mandate Requirements & Penalties

You need to know » Large employers who do not provide “minimum essential coverage” to at least 95% of all full-time employees or fail to provide a plan that meets other minimum requirements are subject to a penalty of up to $2,000 per employee per year.

How we can help » Help you evaluate the most cost-effective strategy—whether to be subject to the penalty or make changes to your coverage to avoid the penalties.


2. Reporting Requirements

You need to know » Large employers will be required to file an annual report with the IRS on the terms and conditions of their health care coverage for full-time employees.

How we can help » Help you understand the process and reporting requirements.


3. Individual Exchange/Marketplace

You need to know » Under certain circumstances, an employer may face a penalty if a full-time employee buys health insurance in the marketplace and gets a subsidy.

How we can help » Help you understand the benefits and drawbacks of the exchanges and how they will affect your company.


4. Number of Employees

You need to know » Under Health Care Reform, there is a unique way of defining full-time equivalent employees, which means your requirements to provide health insurance benefits may be greater.

How we can help » Help you evaluate how many full-time equivalent employees you have under Health Care Reform to ensure compliance.


5. Required Employee Communications

You need to know » Employers must provide Exchange Notices to employees by October 1, 2013, and also must provide Summaries of Benefits and Coverage (SBCs) beginning with the first open enrollment period after September 23, 2012.

How we can help » Keep you aware of these and any other required communications to employees, and provide you with sample or customized notices and communications.

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