More than 15 separate federal agencies are charged with the interpretation, oversight and enforcement of the Patient Protection and Affordable Care Act of 2010 (PPACA), also known as Obamacare. Employers have not historically budgeted resources to ensure compliance with this level of regulation. Many employers are leveraging a multitude of resources to determine how the law will impact their business; reaching out to accountants, lawyers, business associations, insurance providers and trusted trade journals. Some employers are even hiring on-staff specialists to keep up with the changing requirements within the law. The bottom line is that many matters require immediate action for most companies, including:
- Determination of employer size as required monthly for PPACA
- Minimum Essential Benefits & Affordability Review
- Updated Payroll Tracking Requirements
- New PPACA Section 1512 Employee Notice Requirements (ALL Employees)
To view the two-page 2013 Health Reform update overview, click here. For more information, contact Chris Carroll at ccarroll@deeleyinsurance.com.
