You may take a varied approach to addressing Obamacare in your business. Whether you choose to “pay” or play”, you have choices to make. If you opt to not offer healthcare, there are changes you can make to your labor to minimize the penalties you will incur. If you do offer healthcare, you should know which plans are actually in compliance with the Affordable Care Act (your current plan may not be!). You will need to decide what is best for your budget, while also keeping your employees content. It won’t be easy, but your strategy really shouldn’t be ignoring Obamacare any more!
Even with the government shut down, even with the whispers of a total recall of Obamacare, you should be preparing now in order to find the best solution for your company. Experts are divided about whether Obamacare is here to stay. Will there be a solution to the crisis within the federal government between now and the implementation of the next phase of Obamacare? It is likely that there will be. Will that solution definitively absolve you from responsibility to the Affordable Care Act as an employer? It is very likely that it won’t.
The steps you should be taking now in monitoring your labor to determine large or small employer status, adjusting your labor as necessary to fit the criteria to be categorized the way you prefer, and notifying employees about the elements of Obamacare will factor greatly into how your business withstands the new healthcare legislation. Don’t be like the federal government and “shut down” your business trying to deal with the Affordable Care Act. TimeForge can prepare you.
Obamacare: A Handbook for Employers By now, you’ve probably heard about our book. Why do we keep reminding you about it? Because we think it’s the most effective resource available to addressing Obamacare in your business. Are we biased? Of course, but we’ve checked around. Obamacare: A Handbook for Employers is as user-friendly as Obamacare can be. Trust us, we know our stuff. We’ve created a step-by-step guide for you to approach Obamacare simply and logically. Are you considered a large employer and therefore required to offer healthcare to your full-time employees to avoid penalties? Is “paying” or “playing” the less expensive option for your particular situation? If you are a small employer and decide to offer healthcare, are you eligible for a small-employer tax credit? It’s not rocket science and it’s not scary. We only give you the facts about Obamacare and your business. It’s just practical advice to help you navigate the complicated legislation like a pro.
TimeForge Labor Management To prepare for Obamacare you need to assess the status of your labor. To deal with Obamacare, you need to continually monitor your employee hours and wages. To comply with Obamacare you need to maintain thorough records regarding your labor and the status of federally-mandated employee notifications. If you are trying to avoid being classified as a large employer, and therefore required to offer healthcare coverage to your full-time staff, then you will need to find a way to proactively assess your employees’ hours and keep them from exceeding the critical number which will cause you to be assigned penalties. If you opt to offer healthcare to your employees, it must also meet the minimum requirements stipulated in Obamacare for affordability. This will require you to determine, based on your employees’ wages, whether your are in compliance with the affordability requirements.
Have you considered how you will address these new concerns, yet? Because all of this new responsibility will fall on you, the employer, the ideal Obamacare tool would be able to accommodate all of these new requirements. Doesn’t it make sense to find one new solution to all of these new challenges. In addition to eliminating the stress associated with scheduling and tracking the attendance of your hourly employees, TimeForge can help you meet all of these new demands. TimeForge has been busy preparing for Obamacare so that YOU can prepare for Obamacare. Let us show you how optimize efficiency in Obamacare implementation and beyond.
TimeForge and Obamacare Maybe you already have a general idea of how you would like to address Obamacare in your business. Maybe your solution involves not participating in the opportunity to purchase healthcare for your employees. Still, it will pay to know your options. You may find that offering at least some level of healthcare is the least-expensive option for you.
If you are unsure exactly where your company stacks up to the definitions outlined by Obamacare, consider Obamacare: A Handbook for Employers and TimeForge Labor Management Solutions used together your easy guide to Obamacare. Find your answers, form a plan, and then get back to work.