Human Capital Management Blog

The Benetech Advantage

It's lonely in HR. Never fear! Benetech's team of seasoned experts provides the wisdom, technology insights, and healthcare regulatory updates that keep under-staffed and over-tasked HR departments informed, in compliance, and running lean!

By: Barry McNamara

April 10th, 2015

Are You Ready for the Affordable Care Act’s “Cadillac Tax”?

Compliance & Auditing

Beginning in 2018, the Affordable Care Act (ACA) will impose a 40% excise tax on high cost employer-sponsored group health benefits. The “Cadillac Tax” will apply to the excess benefit[1] on all fully-insured and self-insured applicable employer-sponsored coverages.[2]  In this blog we will be covering how "Cadillac Tax" penalties work, and offer insight into what employers need to do to prepare for "Cadillac Tax" compliance in the coming months/years.

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By: John Dalmata

April 2nd, 2015

Obamacare Data Collection: Essential Elements of Building 1095-C Returns

Compliance & Auditing

What data do you have to collect for Obamacare 1095-C reporting? Sounds like a simple question right? On the surface that would appear to be the case, however like anything regulatory - the devil is always in the details. Depending on the nature of your business, the types of coverage you're offering, and the makeup of your workforce, the type of data you may need to collect could vary significantly. 

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By: Matt Ingold

March 27th, 2015

Everything You Need to Know About Affordable Care Act 1095-C Filing

Compliance & Auditing

As quarter one of 2015 comes to a close, we're seeing a surge in questions regarding IRS Affordable Care Act (ACA) forms, ACA reporting guidelines, and how employers will need to file come 2016. Specifically, many are seeking guidance on how to complete form 1095-C for individual ACA returns. In this blog, we'll be painting a picture of how we understand ACA reporting will be executed next January at the company level, walk through completing form 1095-C, and shed some light on what employers and HR professionals can do to prepare for the administrative requirements entailed in Affordable Care Act IRS filing.

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By: Matt Ingold

March 16th, 2015

The Pros and Cons of In-House Affordable Care Act Compliance

Compliance & Auditing

The first year of mandatory compliance has compelled many employers to make their Affordable Care Act compliance plan a top development priority for 2015. Without fail, nearly every focus group goes through the consideration of developing an in-house solution. Whether or not in-house is the right course of action for you is contingent on a myriad of factors, but to help consider the best ACA solution for your organization, we’ve laid out our list of pros and cons to guide employers and HR professionals through the benefits and pitfalls of taking on in-house ACA compliance.  

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3 Most Common Mistake Employers Make When Offering Benefits

Mistakes are expensive, especially when building benefit plans.

We've outlined the 3 most common mistakes employers make when offering benefits in a quick ebook. Get your copy free when you subscribe to our blog.

By: Marissa Dalmata

March 12th, 2015

How Do Employee Wellness Plans Factor in Obamacare?

Compliance & Auditing

Long gone are the days of smoking cigarettes  in the break room and a quick cocktail at lunch…..Corporate employee wellness plans are becoming wildly popular among many organizations as their overall goal is to create a corporate culture of health, while increasing productivity and employee morale. Most importantly their main goal is to prevent large unnecessary claims, therefore reducing overall health care spend.  

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By: Matt Ingold

February 17th, 2015

How the ACA is Impacting Company Budgets in 2015

Compliance & Auditing

The Congressional Budget Office (CBO) expects to collect $313B from employer penalties over the next decade, with $34B of that coming from "Cadillac Tax" penalties in 2025 alone. To no surprise: one of the primary objectives of the Affordable Care Act has been to shift the burden of rising healthcare costs onto Applicable Large Employers (ALE). Preparing for the financial implications of the new regulation starts with understanding the overt and covert ways that the ACA impacts company spending.  To assist companies in fiscally planning for the impacts of the Affordable Care Act, we recommend considering three areas of potential cost and saving opportunities.

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By: Barry McNamara

February 3rd, 2015

How Obamacare Will Impact Your Individual Tax Return

Compliance & Auditing

For hundreds of millions of Americans, it’s that “fun” time again – the IRS tax preparation and filing period! A process that is already complex, confusing and challenging adds another whole level of agita for the 2014 tax year: the impact of the Affordable Care Act (aka “the ACA” or “Obamacare”) on your tax preparation/filing, and – perhaps -- on your tax liability as well.

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By: Matt Ingold

January 22nd, 2015

How to Complete IRS Affordable Care Act Forms

Compliance & Auditing

<div align="center" style="width: 140px; border: 1px solid rgb(204, 204, 204); text-align: center; color: rgb(249, 249, 255); font-weight: bold; font-size: 12px; background-color: rgb(42, 42, 46);"><a href="http://mycountdown.org/Celebration/Halloween/" style="text-decoration: none; font-size: inherit; color: rgb(249, 249, 255);">Halloween Countdown</a></div> We recently updated this blog on August 16 to reflect new guidance released by the IRS in August regarding how to complete IRS Affordable Care Act forms 1094/1095-C and 1094/1095-B. While there has been minimal changes to the forms themselves, there have been some adjustments to how employers are able to report covered non-employees on self-insured plans. We've updated our infographics to reflect the latest regulations, as well as our comprehensive ACA reporting white paper, which is a more in-depth companion to the graphics in this blog. Of note, these are the final regulations for IRS Affordable Care Act reporting for optional 2015 reporting on 2014 plan years. We expect to receive the final regulations for mandatory 2016 reporting later in the summer.  Related Blog: Everything You Need to Know About ACA 1095-C Completion

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Before you leave...

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Mistakes are expensive, especially when building benefit plans.

We've outlined the 3 most common mistakes employers make when offering benefits in a quick ebook. Get your copy free when you subscribe to our blog.

Before you leave...

Mistakes are expensive, especially when building benefit plans.

We've outlined the 3 most common mistakes employers make when offering benefits in a quick ebook. Get your copy free when you subscribe to our blog.