As the election heats up, both candidates have mentioned the Affordable Care Act (Obamacare). Donald Trump says he’ll repeal it, while Hilary Clinton has no plans to change a thing. Regardless, changes in affect in 2016 still apply to your staffing company, and penalties can cost you if you aren’t in the loop.
The ACA is now fully implemented and employers with 50 or more full-time employees or FTEs must offer health insurance to 95% of their workforce. It’s important to know the definition of full-time versus part-time employee defined by hours worked.
Be mindful of tax implications as well. Employers have to offer “affordable” coverage. As of 2016, that is measured at 9.66% against an employee’s household income. If the coverage exceeds that, the employer may be looking at a penalty.
Perhaps none of this will matter after November, but in the meantime, a Professional Employer Organization, can be your partner in identifying and complying with these health care pitfalls.
Visit our web site at www.StaffingCompSolutions.com, call us at 202-302-1212, or email us at david@StaffingCompSolutions.com for more information about all our staffing and workers’ comp offerings.
Sincerely
David Schek
President
StaffingCompSolutions.com