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

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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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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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

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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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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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.