Our national government has made healthcare reform a reality. With the passage of two different bills in the House and Senate, and the recent State of the Union Address, the President and congressional body have declared that healthcare reform is a priority.
Although all of the details will be worked out in a special committee who will be appointed by the President, we know that this law will require most employers to offer health insurance and entrepreneurs to carry health insurance. There is no implementation date yet—but it’s wise to plan ahead to avoid mistakes that could cost you in fines and headaches.
Get ready for Human resources changes
If you currently provide health insurance for your employees, at the very least there will be additional paperwork to complete. Either your firm will sign up for the government’s plan or confirm that your firm offers employees insurance that meet the legal limits.
If you do not currently offer your employees health insurance, you must know if you are required to do so under the new law. Your Human Resources Manager or a Human Resources Specialist will need to advise you on the new regulations as soon as the law is passed.
If you’re required to offer employees insurance, you’ll need to offer the government plan or an alternate plan that at least meets the minimal requirements within the timeframe stipulated by the new law. If not, then you’ll likely have to provide documentation that proves that you are not required to carry insurance.
Human resources experts can keep you legal
The new law will require complete knowledge of the statutes to know whether you’re in compliance. Even if the implementation date is a year or two in the future, early planning will help you avoid last-minute mistakes; and cost projections prevent you from being surprised with new expenditures. This additional time allows you to compare plans and select the right plan for your firm and employees.
Then, you must communicate coming changes to your employees. This allows you to manage reactions and expectations. Pre-enrolling staff in a new plan helps you to get all of the changes completed well before the due date.
If you do not have a human resources expert on staff, it’s a good idea to hire a human resources specialist, or better yet, an ASO or PEO (employee leasing company) to help you comply with this complex new law and much more. Plan and take action early to avoid the stress and expense of last-minute changes.
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