Park City, Utah (PRWEB) June 22, 2013
Today, Zane Benefits, Inc. published new information on health care reform compliance. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement arrangements.
According to Zane Benefits’ website, health care reform introduced several new laws and regulations that impact businesses of all sizes. Zane Benefits provides a health care reform checklist outlining 10 key PPACA compliance issues employers may need to complete in 2013.
According to Zane Benefits’ website, whether a business needs to complete each item depends on the type of employee health benefits offered, and business size. For example, if a business offers an employer-sponsored group health insurance plan, the requirements are different than if the business offers a stand-alone Health Reimbursement Arrangement (HRA).
1. Grandfathered Plan Status
2. Annual Limits
3. Summary of Benefits & Coverage (SBC)
4. Decide Your “Play or Pay” Strategy for 2014
5. W-2 Reporting Requirements
6. Sixty (60) Day Notice of Plan Changes
7. Notice of Coverage Options through the Marketplaces
8. CER Plan Fees
9. Flexible Spending Account (FSA) New An
10. Women’s Preventive Care Mandate
According to Zane Benefits’ website, of all of these, the most important issue is whether to “play or pay.” Starting January 1, 2014, PPACA requires all applicable large employers (50+ FTE employees) to either provide qualified, affordable health insurance or pay a penalty based on full-time employees.
Employers with less than 50 FTE employees are not subject to this requirement. For employers with less than 50 FTE, the "play differently" allows a business to offer a cost-effective health benefit, and take advantage of the individual premium tax subsidies.
About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.