Ashton-Blog

Whats Next for the ACA?

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President Donald Trump and Republicans in Congress have committed to repealing and replacing the Affordable Care Act (ACA). How do their replacement proposals compare to the ACA? How do they compare to each other?

Kaiser Family Foundation has put together a comparison tool to view how each plan could impact employers and employees alike.

Overall, there are 5 plans that have been proposed:

  • The Affordable Care Act, 2010 (PDF)
  • Rep. Tom Price’s Empowering Patients First Act, 2015 (PDF)
  • House Speaker Paul Ryan’s A Better Way: Our Vision for a More Confident America, 2016 (PDF)
  • Sen. Bill Cassidy’s Patient Freedom Act, 2017 (PDF)
  • Sen. Rand Paul’s Obamacare Replacement Act, 2017 (PDF)

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Topics: aca, aca compliance, compliance

THE HILL: Insurers Warn Losses from ACA Unsustainable

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Published this past week, THE HILL included an article that“Insurers Warn Losses from the ACA are Unsustainable.” 

Whether insurers drop out of the exchanges or raise rates, premium increases on employer plans are already being felt. Going forward, businesses that remain at the mercy of fully insured carriers will further suffer.

Want to learn more about how Ashton’s level-funded program is helping small and mid-size businesses escape from constantly increasing health insurance premiums? Contact us today.

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Topics: aca, employee benefits, employers, healthcare reform, self-funding, self-insurance

Open Enrollment: your employees have no Idea what they are doing

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Electing benefits during open enrollment can be a daunting and confusing task for employees. With multiple plans and types of coverage offered, most employees feel overwhelmed and are unable to consult with an expert in the insurance field to help in the decision making process. Employees end up enrolling in the same benefits year after year without knowing which plans are best tailored to their needs. As stated by a recent article from INC.com, employees surveyed are generally confused in these three broad areas:

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Topics: aca, benefits technology, coverage, enrollment

Comply with the ACA’s Employer Shared Responsibility Rules

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Is your business prepared to handle the Affordable Care Act’s biggest requirement for business’?

The employer shared responsibility provision went into effect this 2015 calendar year. Constant coordination and communication between HR managers and payroll is needed in order to ensure accuracy in reporting requirements and payroll data.Here are five ways to ensure accuracy in order to avoid penalties:

  1. Keep track of reporting time periods
    • Choose a look-back period of three months to one year
  1. Coordinate with HR for accurate reporting
    • Complete Forms 1094C and 1095C for end of the year reporting for the 2015 tax year. Get information for employer status, coverage affordability, and eligible employees.
  2. Provide correct information for hours worked
    • Employee service hours are used to determine the full time status for the stability period, and ensure data provided covers the time period. Determine employer status and full time employees. Take note of personnel changes that affect employee’s full time status.
  3. Offer the right health care coverage
    • Make sure affordable coverage is offered to full time employees and dependents in order to avoid penalties.
  4. Determine affordability
    • Affordable health care under employer shared responsibility is coverage that does not cost over 9.5% of employee’s annual household income. Determine affordability through Form W-2, employee salary, or hourly rate information.

HOW ASHTON CAN HELP YOU

With Ashton Benefits’ free online platform, gathering accurate data for reporting requirements can be made easy. Ashton clients receive our system that tracks the correct information. Manually tracking information about your employees without it would be a nightmare. Your company can easily access and update data from your payroll, health insurance, and HR systems all online, in one place. Ashton Benefits is here to help you to remain compliant.

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Topics: aca, aca compliance, employer shared responsibility, healthcare reform, HR, hris, payroll, Technology

Employer Reporting Guide for Large Employers

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INTRODUCTION:

Beginning with calendar year 2015, an applicable large employer (ALE or “large employer,” as referenced in this summary) must use Forms 1094-C and 1095-C to report the information required under Internal Revenue Code sections 6055 and 6056 about offers of health coverage to full-time employees’ (FTEs) and individuals’ enrollment in health coverage.

Ashton Benefits’ free software includes the data and reports that you need to make these new requirements a breeze.

The most difficult part of the entire process is compiling the data!  Once you have the data, the rest is simply transposing it to the proper form!  But what will you do if there is no system in place to track your employee demographics, month by month coverage, and eligibility dates?  The free Ashton portal takes care of all of this!

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Topics: aca, benefits technology, compliance, employee benefits, healthcare reform, hris