ADP and the Statewide Hispanic Chamber of Commerce of New Jersey (SHCCNJ) have partnered to present “What Small Businesses Need to Know about the Affordable Care Act (ACA),” an online FREE webinar on Thursday January 29, 2015 from 11:00 am to 12:30pm EST.
A leading global provider of Human Capital Management (HCM) solutions, ADP announced the availability of information, enhancements and solutions designed to help small, midsized and large businesses in the United States manage their compliance with the evolving requirements of the Affordable Care Act (ACA).
ADP can help companies approach their ACA compliance strategically by providing solutions, resources and expertise around employee communications, eligibility, reporting and enrollment.
ADP will provide up-to-date information on the Affordable Care Act –la Ley de Cuidado de Salud a Bajo Precio– and best practices specific to small businesses in a one-hour presentation followed by a Q&A period.
1. What main regulations will be covered during the webinar about Affordable Care Act for small business owners?
ADP’s January 27 webinar will address the following ACA-related topics:
- Components of the ACA that apply to small businesses
- The Small Business Health Care Tax Credit and how to know whether you qualify
- The Small Business Health Options Program (SHOP) marketplace and the changes that came about in November, 2014
- The Employer Mandate and what it means for small business owners
- Notification, reporting, and record-keeping requirement
2. What are the main benefits of the law for small businesses?
Benefits stemming from the ACA include:
Tax credits: Some small businesses could be eligible for the Small Business Health Care Tax Credit
Access: The Small Business Health Options Program (SHOP) marketplace is only available to small employers. (Our webcast will focus on these provisions and provide eligibility requirements.)
Recruiting and retaining employees: ADP’s research has shown that organizations are extending coverage beyond the mandated ACA full-time employee population to attract and retain great people. What’s more, in our November, 2014 ACA webcast, more than two thirds (69 percent) of the 1,703 respondents to our real-time poll question (“Does Your company currently offer health insurance to its employees?”), said they did offer insurance to their employees. Given that most respondents were from small businesses, this demonstrates that not only do many small businesses offer health insurance, but it also reinforces the importance of keeping informed about ACA-mandated health insurance reforms.
Annual dollar limits prohibited
Waiting periods 90 days or less
Pre-existing condition exclusions prohibited
Employer shared responsibility
Excise tax on high-cost plans (2018)
Small employers, those with less than 50 full-time equivalent employees (FTEs) as defined by the Affordable Care Act (ACA), are not subject to shared responsibility (a penalty for failing to offer group health insurance). However, small employers are still subject to other ACA provisions.
Use this checklist to help you understand some of these requirements.
Also read: Identity theft in healthcare coverage
4. What can ADP offer to its affiliates and potential members that other competitors cannot provide?
As a leading global provider of Human Capital Management (HCM) solutions, ADP provides information, enhancements and solutions designed to help small, midsized and large businesses in the United States manage their compliance with the evolving requirements of the Affordable Care Act (ACA). ADP can help companies approach their ACA compliance strategically by providing solutions, resources and expertise around employee communications, eligibility, reporting and enrollment.
Recognizing that complying with the ACA can be a challenge for small businesses, ADP’s introduced additional tools and resources to its popular RUN Powered by ADP® (“RUN”) human resource and payroll platform, including:
ACA Dashboard – Provides tools, reports, and useful links to help clients understand how the ACA impacts their business and employees;
FTE Calculator – Helps clients determine their number of Full Time Equivalent employees and if they may be considered an ‘applicable large employer’ and therefore be subject to the Shared Responsibility provision of the ACA;
Time and Attendance – provides workforce planning to improve time tracking, apply employee schedules and monitor employee hours to help clients comply with Shared Responsibility;
Health Care Tax Credit Assist – Automatically integrates with the RUN platform and organizes information about employees, which includes wages, hours and premiums to help businesses determine their eligibility for the Small Business Health Care Tax Credit; and
Ongoing ACA Alerts and Education – Legislative and regulatory alerts and educational materials, including webinars and updates, to help clients keep apprised of latest ACA developments.
HR Help Desk – ADP’s team of HR certified professionals available to help clients navigate and understand their ACA responsibilities.
5. Are you going to allow a Q&A session and if yes, how is it going to work?
ADP is making available to attendees of the webcast a checklist in English and Spanish titled “ACA Checklist for Small Businesses” that can be downloaded during the webcast (link to checklist appears below). In addition, we have a 30-minute bilingual Q&A session scheduled after the presentation.
We’ll be giving away 1 free Son Cubano Mojito coupon to each of the first 50 people who register!