Now that President Obama has secured his re-election, the countdown to the federal government’s individual health-care mandate, which goes into effect in 2014, is on. It’s imperative for organizations to take the early part of 2013 to get their employee benefits’ house in order ahead of the January 1st, 2014 compliance deadline.
For employers with 50 or more full-time-equivalent employees that means deciding if they’ll play or pay under ACA provisions. It’s unclear whether smaller employers -- those with fewer than 50 full-time employees -- will be impacted by the ACA, but they may feel saddled with the decision of whether to cut health-care benefits altogether or whether they should change the shape of their offerings for 2014 and beyond.
And then there are cafeteria plans and wellness programs that are also looming concerns for employers of all sizes under the ACA.
With new regulations on the horizon and the need to balance costs while continuing to offer competitive employee benefits, it’s crucial for you to have a solid foundation in place for employee benefits ahead of the 2014 compliance deadline.
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