PeopleForce Solutions: Helping Companies Survive and Comply with the Affordable Healthcare Act
PeopleForce Solutions provides leading-edge time and attendance solutions with over 35 years of expertise and thousands of satisfied clients. We offer hosted, self-hosted solutions for the small and enterprise level business as well as mobile solutions, with full implementation, services and support.
Today’s Topic: Patient Protection and Affordable Care Act preparation for the mandated reporting the IRS will require of you in 2014!
PeopleForce Solutions is pleased to announce new features of its Time and Attendance solutions that help employers reduce risk in evaluating and complying with the Patient Protection and Affordable Care Act (PPACA).
As of January 1, 2014, certain employers are mandated to provide affordable, minimum healthcare coverage to their full-time employees, or be subject to potential penalties. PeopleForce Solutions offers Attendance on Demand and Attendance Enterprise time and attendance solutions that enable employers to measure employee service hours to determine two key factors:
- Employer status as an "applicable large employer" (those companies that employ 50 or more full-time equivalent employees in a calendar year) under the terms of the Act.
- The employees deemed full-time according to the Act. Those are employees who work (or are paid) on average 30 hours or more per week. Full-time status can also be measured monthly. Employees working, on average, 130 hours or more per month are considered full time according to the Affordable Care Act. Employers can choose weekly or monthly measurement periods. Paid time off counts toward employee service hours.
Did you know that part-time employees contribute to the applicable large employer designation? The average number of hours worked by part-time employees in a month divided by 120 yields the number of full-time equivalent employees.
The applicable large employer status is determined each year based on employee counts during the previous calendar year. Due to delays in PPACA implementation for the calendar year 2015 the large employer status is 100 employees or greater. Starting in 2016 the law will be fully implemented and the large employer status will be determined by 50 employees or greater.
It is time to start evaluating your company to determine whether it will be affected by the PPACA. With PeopleForce Solutions, employers can facilitate measuring and reporting on the applicable large employer and employee full-time status.
Contact Us to learn more.