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The Affordable Care Act and YOU

Stay informed on ACA regulations like Health Plan Identifier Number, Open Enrollment & more. Understand employer mandate rules & domestic partner coverage implications. Prepare your business effectively.

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The Affordable Care Act and YOU

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  1. The Affordable Care Act and YOU Presented by: Rae Anne Beaudry, Executive Vice President

  2. What’s on the Radar • Health Plan Identifier Number (As of October 31, 2014 – Delayed indefinitely) • Open Enrollment and Waivers (Should obtain waivers) • W-2 Reporting – All in 2015 for 2014 • 6055 MEC (Minimum Essential Coverage) • 6056 ALE (Applicable Large Employer) • Re-Insurance Tax - Reporting due Dec. 5th (delayed from 11/17) and payment early next year • Notices (Medicare D – Credible Coverage, etc.)

  3. Section 125 • New Qualifying Events • Do you contribute to your employees’ Flex accounts? • If yes, and more than $500 per year, it’s another health plan and reinsurance tax is due • New Allowance for Medical Reimbursement Accounts ($2,550 for 2015) • Carryover vs. H.S.A. Contributions

  4. Employer Mandate Effective 1/1/15 • Failure to offer • Affordability • 50-99 Transitional Period

  5. Outline for Initial Lookback Periods • Identify what types of employees are affected • Full time employees • Employees reasonably expected to work 30 hours per week • Part time employees • Variable hour employees • Seasonal employees • Ongoing employees vs New hires

  6. Outline for Initial Lookback Periods • Ongoing employees • Measurement period • Stability period • New hires • Measurement period • Stability period • Transition into ongoing employee status • Full time status vs part time status

  7. Domestic Partner Coverage vs Same Sex Spouse • Who qualifies as a domestic partner in WI? Spouse? • Ability to offer coverage and tax consequences • Amending your plans to allow newly eligible dependents • Family Medical Leave Amended to Add Definition of Same Sex Spouse (doesn’t discuss partners) • What can or should you do with your plans if the WI Constitutional ban on same sex marriage is overturned?

  8. Questions?

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