Health Care Reform and Employer Compliance
Now that the Supreme Court has upheld Health Care Reform, what is left for employers to do?
A.) Uniform Explanation of Coverage to Employees. Failure to comply is $1,000 fine per employee
B.) Modification Notices to Employees. Failure to comply is $1,000 fine per employee
C.) W-2 reporting
D.) Certification of Employers health plan annually to the Treasury
These are just a few examples of what employers are required to do. The Uniform Explanation of Coverage to the employees and the Modification Notices are required this year. In addition, many other aspects of the law will be coming into place in 2013 and 2014.
Now more than ever it is crucial for employers to have a clear and precise process in place to ensure they are compliant under the Health Care Reform Law.
If you have questions on how this law affects your business and what processes are needed to be put in place to be compliant please feel free to contact me.