Should we play or pay? Larger employers try to figure out how to Affordable Care Act to deal with the "employer shared responsibility provision" of that either in 2015 offer health insurance applicable large employers require, or pay a tax penalty. The employer shared responsibility provision applies to employers with more than 100 employees in 2015 and in effect will come into force in 2016 for employers with 50-99 employees.
But what large employers should is asking: How can I take advantage of the Law Affordable Care taking (ACA) individual insurance premium tax subsidies and actually save money in health care costs?
Play or Pay Defined
First, which means play or pay? Play or payment is a concept that employers with more than 100 FTE employees requires in 2015 health insurance for their employees to provide ( "Play") or a tax or premium to a system publicly provided pay people without private insurance ( " pay ") covers. The ACA play or pay request is also known as "employer shared responsibility commission" or "employer mandate."
The Play or Pay decision referred to ... and how different playing
should demand Many employers we play, pay or play differently with a premium refund program? The decision is not always easy or straightforward. Ultimately, employers want to provide a health benefit that is valuable to the employee (ie recruitment and retention) and has a value for the employer (ie the best value for the cost).
There are three ways to play a bigger employer to pay or to play differently with premium refund
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To play with means that your company's employees would offer health insurance that meets the essential health benefits and: does. is affordable for employees of ACA standards.
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pay to means that your company does not offer health insurance and instead pay would choose a tax penalty. Remember, the penalties introduced gradually and in 2015 for employers with more than 100 FTE employees and in 2016 for employers with 50-99 FTE employees.
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start to play differently midway between play and pay. It means that your company chooses not to offer a group health insurance, pay all applicable penalties and instead offers employees a health benefit money. Employees Policies of an insurance agent, online or through health insurance marketplaces. Then the company's employees will be reimbursed for their policies, up to the amount of their compensation.
Why an employer would play this?
play an employer would look different because it is likely to:
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save employees and employers a combined 50% of the cost of health insurance
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employees allow a full range of insurance health. ,
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employees, with better, more flexible health insurance options.
with the new Individual Health Insurance Marketplaces (with guaranteed issue and affordable because the insurance premium tax subsidies), now premium reimbursement plans have all the same advantages of a group health insurance at a lower cost for the employer and staff.
premium refunds and employee health insurance costs Analysis
to decide whether to play, pay or otherwise play with a premium refund program, larger employers should perform a simple cost analysis. Compare the costs (and benefits) of the three options:
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qualified, affordable group health insurance
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premium reimbursement program + applicable penalties
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penalties
fewer than 100 employees? No Play or Pay decision in 2015
If your business is less than 100 employees, the mandate and the tax penalty (and thus the game or pay decision) does not apply to you. With the new health insurance exchanges and insurance tax subsidies, many small and medium employers .:
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Dropping their group health insurance (if they have one)
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allow staff policy by their national health insurance marketplaces and to take to acquire able benefit of individual tax subsidies.
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Reimburse employees for their premiums (or a portion of their premiums) by the premium refund program. See:
What questions do you have to play through the ACA. or pay decision in 2015?
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