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Topic:
Health Care Reform's Pay or Play Rules: Understanding the Latest Guidance
Date:
February 26, 2013 at 12:00 - 1:00 PM ETPresenters:
Amy Ciepluch, Attorney(Quarles & Brady)
Register for the Virtual Conference to obtain webcast schedule and registration access by clicking on the 'view event' button below.
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Description
The Affordable Care Act generally requires that “large” employers - generally those with 50 or more full-time equivalent employees - provide a minimum level of health plan coverage to “full-time” employees or pay a penalty. Employers can face a penalty of $2,000 per full-time employee for failing to offer minimum essential coverage to just 5% of their full-time employees and employers who fail to offer affordable coverage can face a penalty of $3,000 for each employee who goes to an exchange and receives subsidized coverage.
Although this “Pay or Play Rule” technically does not start applying until January 1, 2014, decisions employers make as early as 2013 can impact the coverage that is offered in 2014. For example, employers who intend to offer coverage will need to count 2013 hours to determine who qualifies as "full-time" for 2014. Thus, employers need to immediately start considering their health plan strategy. This seminar will focus on the latest IRS guidance, including the following topics addressed in the new regulation issued on December 28, 2012: • Identifying applicable large employers, including new rules for employers close the 50-employee threshold; • The new rule for coverage of employees' adult children; • How to count hours for employees on leave and employees who are rehired; • Two new affordability safe harbors; and • Special transition rules for 2014. Don’t miss this seminar, which is designed for benefits professionals with some experience with the Pay or Play rules -- it will keep you “ahead of the curve” on how the new rules work! |
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Who Should Participate
Benefits professionals responsible for U.S. health plan compliance.
What You Will Learn
Who is a “large” employer that is subject to the Pay or Play Rule?
Partipants will learn how the Pay or Play Rule will affect plan design and employees, how an employer can ensure that it does not become subject to a Pay or Play Rule penalty and the meaning of key terms, such as “full-time” employee, “minimum value” health plan and “affordable” health plan coverage.
Recommended Resources
http://www.quarles.com/pay-or-play-regulation-changes-2013/
Click here
Quarles & Brady's Pay or Play Guide Communities
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