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

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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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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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: 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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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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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.