Let’s face it everyone, COMPLIANCE will be a major issue as we move forward with Health Care Reform. The penalties will be severe and there is little chance they won’t be enforced.
At this time it appears the two major enforcement arms of this legislation will be the IRS and the Department of Labor. Compliance for the individual consumer, is fairly simple, obtain coverage from your employer or purchase an individual plan or pay a tax to the Internal Revenue Service. Compliance for California employers, insurance companies, hospitals, and medical groups will require tremendous effort, education, and a well thought out implementation strategy. If the employer with 50 or more employees decides not to offer a health insurance, they should expect to hear from the Department of Labor and the IRS.
Failure to comply with this legislation will be extremely expensive. Loss of production, legal fees, non-deductible fines and penalties are just some of the issues a company may experience. We strongly urge all businesses to find quality resources to assist in compliance. We can be your resource. Our company has spent thousands of hours attending seminars, CE classes, webinars, educating ourselves to assist our clients with health care reform issues.
Most of us have heard the term “Pay or Play”. What does that really mean? Pay who? W-2 Reporting? Did you know every employer must provide reasonable break time for an employee to express breast milk for a year after a child’s birth in a private area, and not the bathroom?
Please review the links below and consider us as a resource for your compliance issues.