Cleveland, Ohio (March 18, 2013) – With 2014 approaching, employers need to start planning for the employer shared responsibility requirements under the Patient Protection and Affordable Care Act, including deciding if they will “play,” “pay,” or attempt to avoid both alternatives. McDonald Hopkins addresses these issues in a special report designed to help employers understand and address the effects the Act will have on their business. In addition, the firm will conduct a live webcast on the shared responsibility requirements on March 21, 2013.
In the report, McDonald Hopkins details the Act’s employer shared responsibility requirements that apply beginning in 2014. Any business that is an “applicable large employer” in 2014 will have shared responsibility for its full-time employees’ health care coverage beginning in 2014. The report outlines these shared responsibility requirements, including how an employer can accurately identify its “full time employees” in 2014 (which are not necessarily the same as “full time employees” counted to determine applicable large employer status), and potential penalties for failing to comply. The report also discusses special rules for employees falling into certain categories, such as collectively bargained employees. Using this information now, based on its current and expected workforce, can help an employer determine if its business will be subject to the penalties and to take action before January 1, 2014.