employer requirements of the affordable care act

Upload: oconnor-davies

Post on 14-Apr-2018

214 views

Category:

Documents


0 download

TRANSCRIPT

  • 7/27/2019 Employer Requirements of the Affordable Care Act

    1/2

    Private Clubs Newsletter

    Employer Requirements of the AffordableCare Act

    The Affordable Care Act (ACA) is scheduled to take effect on January 1, 2014.

    There is an employer mandate which we would like to bring to the attention of

    club management at this time.

    Notice to Employees Requirement Due by October 1, 2013

    On May 8, 2013, Technical Release 2013-02 was issued by the U.S. Department of

    Labor (DOL). It announces the availability of a Model Notice to Employees ofCoverage Options. No later than October 1, 2013, the club whether or not it

    has 50 or more full-time employees must provide all current full-time and part-

    time employees with an appropriate notice concerning coverage options offered

    by health insurance exchanges. These exchanges will be run by either your

    individual state government or the federal government. Going forward, all new

    employees must receive such notice within 14 days of his/her start date.

    There are two model notices which you can find respectively at the appicable link

    below:

    For employers that offer health insurance:

    http://www.dol.gov/ebsa/pdf/FLSAwithplans.pdf

    For employers that do not offer health insurance:

    http://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdf

    The applicable notice must be completed and provided to all

    employees

    automatically and free of charge, irrespective of full-time or part-time status. It

    may be hand-delivered, mailed by first-class postal service, or provided

    electronically [if the requirements of DOLs electronic disclosure safe harbor

    requirements are met]. It is recommended that a receipt acknowledgment beobtained by the club from each employee.

    COBRA

    You will also find at the following link, a model notice which may be used by the

    club for employees who become qualified beneficiaries under COBRA which

    makes reference to the healthcare exchanges. The election notice must be

    Pat [email protected]

    (914) 381-8900

    Clare Cella

    [email protected]

    (212) 867-8000

    Chris Casini

    [email protected]

    (201) 712-9800

    Al Fiore

    [email protected]

    (203) 323-2400

    http://www.dol.gov/ebsa/pdf/FLSAwithplans.pdfhttp://www.dol.gov/ebsa/pdf/FLSAwithplans.pdfhttp://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdfhttp://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdfmailto:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]:[email protected]://www.dol.gov/ebsa/pdf/FLSAwithoutplans.pdfhttp://www.dol.gov/ebsa/pdf/FLSAwithplans.pdf
  • 7/27/2019 Employer Requirements of the Affordable Care Act

    2/2

    provided to qualified beneficiaries within 14 days after the plan administrator

    receives notice of a qualifying event.

    http://www.dol.gov/ebsa/cobra.html

    More Information

    Information for employers and others about the Affordable Care Act is available

    at:

    www.healthcare.gov

    and

    www.dol.gov/ebsa/healthreform

    As the effective date approaches, it is likely that additional information regarding

    the ACA will be issued; therefore, it is important that club management remainaware and proactive.About Our Practice:

    Private clubs operate in a unique business environment. They are constantly challenged with providing

    optimum quality and service while controlling costs. Private clubs must be aware and ready to react to changes

    in government regulations, tax laws, operational advancements and member expectations. Our dedicated

    Private Club professionals include partners, managers and staff with highly specialized experience, education

    and training. Our team is current on developing trends in the industry which assists our clients achieve their

    strategic goals for success. Our long history of serving the private club industry exemplifies our commitment to

    serving this community. OConnor Davies, LLP is a member firm of the PKF International Limited network of

    legally independent firms and does not accept any responsibility or liability for the actions or inactions on the

    part of any other individual member firm or firms.

    IRS CIRCULAR 230 DISCLOSURE: To comply with IRS regulations, we are required to inform you that unless

    expressly stated otherwise, any discussion of U.S. federal tax issues in this correspondence (including any

    attachments) is not intended or written to be used, and cannot be used, (i) to avoid any penalties imposed by

    the Internal Revenue Code, or (ii) to promote, market, or recommend to another party any transaction or

    matter addressed herein. Our firm provides the information in this e-newsletter for general guidance only, and

    it does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or

    professional consulting of any kind.

    The information provided herein should not be used as a substitute for consultation with professional tax,

    accounting, legal, or other competent advisers. Before making any decision or taking any action, you should

    consult a professional adviser who has been provided with all pertinent facts relevant to your particular

    situation.

    http://www.dol.gov/ebsa/cobra.htmlhttp://www.dol.gov/ebsa/cobra.htmlhttp://www.healthcare.gov/http://www.healthcare.gov/http://www.dol.gov/ebsa/healthreformhttp://www.dol.gov/ebsa/healthreformhttp://www.dol.gov/ebsa/healthreformhttp://www.healthcare.gov/http://www.dol.gov/ebsa/cobra.html