SGIA Journal September/October 2013 - (Page 18)

Affordable Care Act — What is New and What is Happening In July, the US Treasury Department announced that employer electronic disclosure safe harbor are met. There is no require- reporting, and thus the associated fines, under the Health Care ment to obtain an employee’s signature if mailed; however, an Reform law will be delayed a year until January 2015. If your employer may want to track delivery and receipt of the notice. firm falls around the 50-employee threshold, you should contin- The requirement to provide a Summary of Benefits and ue to keep track of full-time equivalents in 2014 to determine if Coverage (SBC) applies to all employers, even those with you will be covered in 2015. Include full-time, part-time, tempo- fewer than 50 employees. Technically, this requirement applies rary (not from a temp agency) and seasonal employees (if they to all group health plans except federal government and work more than 120 days in a calendar year). retiree-only plans, standalone dental and vision coverage, The delay of the employer mandate is the only item that most health FSAs and certain HRAs. Provided by your carrier, has been delayed. The individual mandate remains in effect. the SBC is a standardized eight-page document that outlines Fines start at one percent of income or $95 per adult (which- major benefits, costs and limitations of the health plan. It also ever is higher) in 2014, two percent or $325 in 2015, and 2.5 includes information on consumer rights, appeals and griev- percent or $695 in 2016. The fee is paid on the 2014 federal ances, and coverage examples for some typical costs under income tax form, to be completed in 2015. the plan. This rule went into effect for plan years starting on or All of the health care law’s plan mandates still apply, including the maximum 90-day waiting period, elimination after September 23, 2012. When 2015 employer reporting and fines kick in, firms with of pre-existing conditions, wellness incentive, coverage of 50 or more employees should pay special attention to ensure dependents up to age 26, and the two-million-dollar annual they are not fined unjustly. If individuals go to an Exchange for limit maximum for 2013. insurance and apply for a premium tax credit, the Exchange checks various databases to verify the individual is eligible (most of these databases are not populated currently) and then will request that individuals fill out a 12-page form (“Application for Health Coverage and Help Paying Costs”) and have the employer(s) complete a section on coverage as well. In July, a final regulation indicated that the Federal Government would select a statistically significant random sample of these cases to confirm accuracy and then go to the employer. Thus the typical employer may not see very many of these. This does apply to employers with fewer than 50 employees as well. Still curious as to where you stand regarding health care Regardless of number of employees, all employers, by October 13, must send exchange notices to all employees, and thereafter to new employees upon hire (i.e., within 14 calendar days of the start date). There are two versions of an approved form developed by the Department of Labor for use:. 1. For those firms that do not offer insurance 2. For those firms that offer insurance to some or all employees compliance issues? The Department of Labor has issued a long, yet useful healthcare law self audit. While this document needs to be updated to reflect the recent change regarding employer reporting/fine delay, it is still a very useful document. To access a copy, visit SGIA’s First to Know resources and check under the Small Business Tab. Check back often for updates on legislative, environmental and safety issues impacting the specialty imaging industry. Questions that remain? Contact us at govtaffairs@sgia.org. Copies of these forms can be accessed on SGIA’s First-toKnow Information page: http://www.sgia.org/advocacy/pac.cfm The notice may be provided by first-class mail or electronically if the requirements of the Department of Labor’s 18 | SGIA Journal ■ September/October 2013 Visit SGIA at SGIA.org http://www.sgia.org/advocacy/pac.cfm http://www.SGIA.org

Table of Contents for the Digital Edition of SGIA Journal September/October 2013

How to Sell in a Tough Economy
How One Fine-Art Photographer Created a Four-Story-Tall Print
December 1, 2013 Training Deadline Approaches
Affordable Care Act — What is New and What is Happening
Reducing Inkjet Ink Usage
Want Your Graphics to Look Great and Last? Start with Surface Preparation and Cleaning
2013 Market Trends & Product Specialties Report
Digital Ceramic Printing Continues to Cast a New Business Model for Output Providers
How to Hire and Retain a Sales Champion
Going Grand: Does It Make Sense for Your Business?
Flames Made Easy with Knifeless Tape
The Edge is Near: Innovations in Fabric Finishing
SGIA Expo Sponsors Lead the Industry Charge to Orlando
The Innovation of an Art Form: A History of Screen Printing
In Many Specialty Graphics Shops, Old and New Technologies Sit Side by Side
SGIA Helps Making Shipping Easier with YRC
New Products
Specialty Imaging Shines at the 2013 SGIA Expo

SGIA Journal September/October 2013