The Affordable Care Act (ACA) was always meant to collect penalties from employers who didn’t comply with its regulations. Yet in the few years that ACA tracking and reporting has been required, these penalties haven’t seemed particularly real.
There’s been a lot of talk about the Affordable Care Act (ACA)—what might get repealed, what’s going to be enforced, and what its impact will be on the individual market—without a lot of clarity about what’s going on.
In late July, Bass Pro Shops settled with the Equal Employment Opportunity Commission (EEOC) for $10.5 million dollars and a promise to enforce certain initiatives, including the creation of an Office of Diversity and Inclusion.
Today, President Trump signed an executive order intended to loosen regulations currently enforced under the Affordable Care Act (ACA). The order specifically directs the Treasury and the Department of Labor to:
- Expand rules for association health plans, allowing more employers to ban together and purchase healthcare plans, including plans across state lines;
- Loosen regulations on and make available short-term limited duration insurance that’s not subject to the essential health benefits mandates of the ACA; and
- Create rules that allow employees to use Health Reimbursement Arrangement (HRA) funds to pay for healthcare premiums
In July, Republicans made dramatic efforts to pass Affordable Care Act (ACA) repeal and replace legislation. Middle of the night theatrics played out a failed vote as Senator John McCain (AZ) cast the deciding “no” vote. For all intents and purposes, it appeared that Republicans were moving on from health care reform and looking towards immigration or tax reform. However, this September, Republicans decided to make one last-ditch effort to surge for repeal and replace.
Employers have one perspective on the Affordable Care Act (ACA). Employee benefits providers have another.
Benefits brokers used to have a well-defined job: Sell health care benefits to companies for a commission and occasionally answer employer questions about these services.
Everyone likes growth, but no one likes growing pains. Unfortunately, you can’t have one without the other. More employees, more revenue, and more influence undoubtedly come with more paperwork, more responsibility, and more regulations.
Ready or not, it’s almost time for the next wave of ACA and EEOC reporting.
Professional Employer Organizations (PEOs) have long been a helpful resource for businesses looking to provide the best benefits to their employees. The growth the PEO industry has seen in recent years just proves this point. But as regulations become more complex, and continue to vacillate between rolling out and rolling back, it can be difficult to ensure you’re offering all the best options to your customers without overtaxing your organization. With the increasing complexity of HR mandates, health care regulations, and other employer regulations, PEOs have been looking for new ways to help companies struggling to cover all these requirements on their own.