Countdown To the Affordable Care Act (#ACA) – Friday Distraction
(Editor’s Note: Today’s post is brought to you by our friends at Kronos, the global leader in delivering workforce management solutions in the cloud. Kronos has developed a web page dedicated to helping companies with the implementation of the Affordable Care Act. Be sure to check it out and download their ebook on “Navigating the Affordable Care Act”.)
While the Affordable Care Act (ACA) doesn’t officially go into effect until January 1, 2014, there is a major provision of the Act that goes into effect on October 1, 2013. In case you’re not near a calendar, that’s ten days from now.
On October 1, the ACA requires employers to provide all new hires and current employees with a written notice about the health care exchanges. The Department of Labor (DOL) issued Technical Release 2013-02 to provide some guidance on the matter.
One look at the DOL’s technical advice speaks volumes. The ACA is a complicated law. Add to that the continued confusion about the ACA legalities, constitutionality, postponements and repeals. My guess is companies have been waiting for definitive answers and don’t have a plan in place. Well, it’s time to act. A few questions to consider:
- Does this law impact my business?
- What is “pay or play”?
- How will I track the 30/130 rule?
- When and how should I communicate to employees our plans?
…and the list goes on. No more waiting until the last minute to communicate their plans to employees. They need time to make their own decisions about health care coverage.
The intricacies and details of this new legislation are enough to make someone break out in hives. Just kidding. But I couldn’t help but chuckle at the latest Time Well Spent cartoon from our friends at Kronos.
The worst thing we can do is avoid dealing with the Affordable Care Act. We will continue to figure this new legislation out together.
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