Ongoing Changes in ACA Regulations

Since its establishment, the Affordable Care Act has stirred much controversy and confusion. Both individuals and businesses have experienced a wide range of changes due to this new law. As a business owner, it is crucial that you are in compliance and knowledgeable of the following:

  • A small business with less than 50 employees working full-time is not required to offer healthcare to their employees.
  • The number of full-time employees is calculated by the previous year’s number of full-time employees.
  • While the idea of seasonal employees may make identifying the actual number of full-time employees more challenging, typically, if a seasonal worker is employed for less than 120 days each year, they are not considered a full-time employee.
  • As a business owner with more than one entity, you will be required to combine the total number of full-time employees from each business to determine the actual number of full-time employees. This will determine if a business owner is required to offer their employees’ healthcare benefits.
  • The healthcare that is offered to employees must be affordable, providing the minimum level of coverage to both the full time employee and their dependents.
  • Minimum level coverage is determined by the percentage of total allowed cost of benefits, which must be at least 60 percent.
  • If you are a small business owner or farmer, there are certain options you must consider. You may be eligible to deduct 100 percent of uncovered medical expenses as a business expense.
  • In order to avoid any penalties, it is strongly encouraged that you seek the advice of one of the many administrative organizations to make sure you have compiled with all new laws and regulations, including the Treatment Alternatives of Safe Communities (TASC).

Bernardini & Donovan Insurance Services strives to provide Redlands, California residents with excellent insurance services custom tailored to meet your unique needs. Contact us today and allow us customize a unique health insurance package for your family based on your needs.

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