Benefit Resource Group believes in working with their clients to guide them through the changes the Patient Protection & Affordable Care Act (PPACA) or “ObamaCare” will bring, in addition to strategic maneuvers to affordable comply with the law.
Dallas, TX (PRWEB) February 27, 2013
2014 will bring monumental transformation to the insurance and benefits landscape. Benefit Resource Group believes in working with their clients to guide them through the changes the Patient Protection and Affordable Care Act (PPACA) or “ObamaCare” will bring, in addition to strategic maneuvers to affordable comply with the law.
Aiding in that goal, Benefit Resource Group is making it easy for Texas businesses to understand the law but outlining the penalties. This will help businesses understand the consequences of failing to comply with the new regulations, which states effective January 2014 employers who fail to offer “minimum essential coverage to all but 5% (or if greater 5) of its full time employees they can be subject to the 'No Coverage Penalty.'”
Here is a simple overview of two of the penalties:
- No Coverage Penalty
$2,000 per year for each full-time employee (excluding your first 30 employees), including those deemed Full-Time Equivalents (FTW). A FTE is calculated by adding the hours of part time employees to equal 30 hours a week.
- Inadequate Coverage Penalty
$3,000 per year for each full-time employee who receives Government Assistance, not to exceed the penalty calculation for “No Coverage.”
The local Texas-based insurance agency wants local businesses to know, it is a resource when it comes to this legislation. Their experienced agents are able to take on an advisory role in helping clients navigate through the provisions and penalties of the legislation to avoid paying the penalties and maintain profitable. Few in the insurance world are more equipped to deal with questions regarding the PPACA or to guide businesses in the right direction in regard to their health insurance policies for employees.
Contact an experienced agent at Benefit Resource Group today for more information on how to avoid penalties under PPACA.
About Benefit Resource Group:
For more than 35 years, BRG has been operating in Texas, while focusing on building relationships with and retaining their clients. Over the last 24 months BRG has grown exponentially as they have become recognized experts on health reform. Danny O’Connell leads the experts. O’Connell is not only a partner at BRG; he also has been an adjunct professor of economics. No matter what a client’s financial situation may be, BRG agents are committed to finding the most affordable and comprehensive solutions for his or her unique needs by adding experts in just about every practice area.