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: Matt Ingold

January 13th, 2015

Employer Decision Point: What to Do About Pay or Play

Compliance & Auditing

Delays, grace periods, and waffling media buzz. It's no wonder so many employers are giving the oncoming Affordable Care Act (ACA) as much credibility as the boy who cried wolf. Oddly enough, the biggest ACA naysayers we often see are outgunned benefits specialists pouring honey in their clients ears about legislative repeals and House-majorities in the hopes that they're not put on the spot to provide real solutions to complying with the new law of the land.  I know, we certainly will let the future be the judge, and if I am wrong I will gladly eat this ACA blog with fava beans and a nice Chianti. In the mean time we are approaching the end of month-one of mandatory ACA complaince for applicable large employers (ALEs). For ALEs lacking due-diligence, that means fines come next tax season.  If you are an ALE for 2015 and find yourself without a plan for Obamacare compliance, please...

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By: Matt Ingold

December 30th, 2014

Employer SBC Responsibilities: Another Often-Missed ACA Penalty

Compliance & Auditing

With so much focus on updates and concerns surrounding the employer mandate, “pay or play,” portion of the Affordable Care Act, it can be easy to gloss over some of the many nuances of Obamacare. Indeed, quickly finding an ACA solution to plug the hole in the proverbial penalty-dike needs to be top priority for ALEs in 2015, but all must be careful not to miss some of the other “less-hyped” components of the law that can still rack up sizable penalties.

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By: Matt Ingold

December 10th, 2014

What to Look for When Selecting an ACA Software Solution

Compliance & Auditing

Amidst mando compliance in the first year of the Employer Shared-Responsibility portion of the Affordable Care Act (tough to believe right?), we find the market starting to flood with an array of PPACA software vendor solutions. Wonderful news for employers and HR professionals, as complying with the stipulations of "Pay or Play" has been, for many, a source of stress and confusion. Understandable--there is a lot to it. But now that impending penalties are upon us and solutions are increasingly abundant, what are the key criteria to hold against a would-be ACA compliance solution. Indeed, not all ACA software vendors are created equal!

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By: Mary Lou F.

August 26th, 2014

IRS FORMS FOR AFFORDABLE CARE ACT (ACA) REPORTING

Compliance & Auditing

We're working tirelessly to keep you up to date on all of the latest and greatest information surrounding the Affordable Care Act, without burdening you with the minutia. No one expects you to read the 3000+ pages of legislation, but that won't stop the IRS from levying fines! We got your back. On July 24, the IRS released drafts of the forms employers will use for reporting under Code Sections 6055 and 6056. Draft instructions are expected to be posted to IRS.gov later in August.

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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: Mary Lou F.

August 22nd, 2014

Mid-Year ACA Review: For Your Best Pay or Play Solution

Compliance & Auditing

We've got more updates for you on the Affordable Care Act! A lot of information has come through piecemeal, but we've taken the time to compile some of the most recent updates all employers need to be aware of so you can determine the best pay or play solution for your business. To round out the first half of the year, here are some changes you may have missed. 

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By: Mary Lou F.

August 18th, 2014

AFFORDABLE CARE ACT (ACA) – IN CASE YOU MISSED IT – UPDATES FROM MARCH & APRIL

Compliance & Auditing

March and April were busy months for changes to health care reform. As promised, we're keeping you abreast of the relavent updates in the Affordable Care Act. Here are the highlights we found pertinent to you all! March March 5-The Department of Health and Human Services (HHS) published rules establishing the cost-sharing limits for health plans for 2015. The annual deductible for a health plan in the small group market for 2015 may not exceed $2,050 for self-only coverage and $4,100 for family coverage. The out-of-pocket maximum cannot exceed $6,600 for self-only coverage and $13,200 for family coverage. The full account of Benefit and Payment Parameters are found here. …

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By: Mary Lou F.

July 31st, 2014

AFFORDABLE CARE ACT (ACA) – 2014 MID-YEAR REVIEW – JANUARY & FEBRUARY

Compliance & Auditing

With half of 2014 over, it is a good time to review some of the many changes in healthcare reform that have occurred.

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By: Mary Lou F.

June 5th, 2014

Employer Health Care Arrangements - $36,500 Per Employee Per Year Penalty

Compliance & Auditing

While you may think you’re safe from one of the $2,000 or $3,000 Pay or Play penalties, you might be positioned for an even greater penalty – to the tune of $36,500 per employee, per year – if you offer reimbursement plans instead of coverage.

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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.