How Affordable Care Act (ACA) Works | Obamacare | Benefits скачать в хорошем качестве

How Affordable Care Act (ACA) Works | Obamacare | Benefits

ACA or Affordable Care Act or Obamacare or Patient Protection and Affordable Care Act or PPACA, is a US federal law which mandates, that Employers with 50 or more full time employees must offer affordable healthcare to those of their employees who work more than an average of 30 hours a week or 130 hours a month. Will break it down into 5 sections: Who the law is applicable to ? How does it work ? What type of healthcare is offered ? Penalties if fail to comply Year End Filing Measurement Period can be up to 12 months long but not less than 3 months. Administration Period can be up to 90 days long. Stability period can be up to 12 months long but not less than 6 months and certainly not less than the corresponding measurement period. As per ACA guidelines, it should have three characteristics: It should be affordable It should offer Minimum Essential Coverage (MEC) It Should be of minimum value (MV) First, Affordability, which indicates if the health plan offered is affordable as per ACA guidelines. And to determine this, employer can use three methods or safe harbours- Rate of Pay, W-2 and Federal Poverty Line (FPL). Form 1095 • Form 1095-A: Individuals enrolled in health insurance coverage through the Health Insurance Marketplace will receive this form. • Form 1095-B: Insurers and employers that sponsor self-insured health plans are required to report on the individuals who are covered by their health plans. • Form 1095-C: Employers with more that 50 full-time employees (including full-time equivalent employees) are required to report whether or not they offered health coverage to their employees by providing each full-time employee with form 1095-C. This form asks for information such as whether the employee was offered coverage and for which months. It also asks for the employee's share of the lowest cost monthly premium for the self-only minimum value coverage. To obtain full video on how ACA is administered in any HCM ERP software visit https://peoplesoftconcept.blogspot.co... If you are interested in HCM training videos across modules such as Core HR, Payroll, TLM, Benefits, Performance Management, Compensation Management, Recruitment then visit https://peoplesoftconcept.blogspot.com/ How COBRA Act works in US    • How COBRA Act works | Benefit Administration   How Self-Service Works in TLM    • How Self Service Works in TLM | Time and L...   What is Human Capital Management    • What is Human Capital Management (HCM) ? |...