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Submitted by: Corban One
ACA Compliance: Why is this Important?
The health care system is about to undergo a major overhaul in the United States of America, thanks to the ACA or The Affordable Care Act. This law aspires to empower US citizens with the capacity to make informed decisions through stronger legal rationale as it relates to health care.
The announcement to postpone ACA implementation until January, 2015 instead of late 2014 may have given employers extra time to ready existing procedures as per ACA requirements, but how successful the organization would be in embracing ACA entirely depends on how ready it is to perform as per the changed regulations throughout the organizational levels. The state/federal healthcare providers or affiliated service providers have fired up the twofold processes that play key roles in timely deployment of ACA, namely:
Enrolling individuals and existing healthcare benefits that small organizations (staff count 50 to 100 or lesser) have to offe
Evaluating strategies adopted by employers in complying their future plans with ACA
No definitive strategy is there for employers to follow in keeping themselves ready for ACA compliance. However, they can always stay prepared for complementing the change with the right planning, provided the effort contains the following steps:
a) Answer the following factors in perfecting your planning process:
a. The possible consequences or results of offering healthcare benefits as a part of overall reward strategy with respect to organizational capacity in recruiting
. The results of offering healthcare as a part of overall reward strategy with respect to retaining talent
c. If not healthcare benefits, what other compensation can be offered and how the alternative would affect the organization in terms of developing a corporate identity in the market
) Steps of Planning:
a. ACA requirement responsive planning:Organizations, while planning, should take into account that several ACA requirements would become effective on 1st January, 2015. Accordingly, they should regard the same date as a deadline to ensure that the healthcare benefits are self-funded, completely insured and ready to comply with the ACA provisions.
. Solving Errors with Employee Classification: One of the primary criteria for ACA compliance is identifying misclassified employees, as erroneous classification fails auditory and compliance processes.
c. Know how differently the rules of Affiliate and Control are applied: Understanding the magnitude of difference between application of affiliated and controlled rules can ease up the ACA compliance procedure. Employers should include the findings from the review of their organizational structure into their planning process and try to solve it.
d. Employee Agreement Scrutiny: Employers that use employment agencies as bridges to hire employees on both a temporary and leasing mode, may not comply with ACA provisions, as they can be viewed as co-employers. It is important that employers should go through the contractual provisions with employees and make necessary changes at the earliest.
Final Words!
Being ready means understanding the requirements and planning with the ambition to answer the requirements in the best manner possible. The necessity of ACA compliance has imposed an immense challenge over employers in undertaking the right measures that would allow employees to take more informed decisions about heath related issues. Start preparing today and avoid ACA penalties for non-compliance.
About Us: Corban OneSource is a US based company that focuses on helping customers with their human resources needs. The company offers a host of services from HR support to payroll, benefits to background screening and personality testing. Corban One Source use systems that have been developed over decades combined with the latest technology to ensure they provide their customers with the best experience. The company has customers in more than thirty states throughout the United States and is considered the largest HRO company on the East Coast.
About the Author: To find out more about Corban OneSource, visit
corbanone.com/
Source:
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