The Latest from United Benefit Advisors
Minimum essential coverage or "MEC" is the type of coverage that an individual must have under the Patient Protection and Affordable Care Act (ACA). Employers that are subject to the ACA's shared responsibility provisions (often called play or pay) must offer MEC coverage that is affordable and provides minimum value.
Posted: October 8, 2015, 4:00 am
The Patient Protection and Affordable Care Act (ACA) requires applicable large employers (ALEs) to offer full-time employees health coverage, or pay one of two employer shared responsibility penalties. An ALE is an employer with 50 or more full-time or full-time equivalent employees (for 2015, this threshold is 100). A full-time employee is an employee who works 30 hours or more a week.
Posted: October 6, 2015, 4:00 am
The Employee Retirement Income Security Act (ERISA) was signed in 1974. The U.S. Department of Labor (DOL) is the agency responsible for administering and enforcing this law. For many years, most of ERISA's requirements applied to pension plans.
Posted: March 24, 2015, 4:00 am
The regulatory agencies have recently issued guidance that may affect employers that have been reimbursing premiums for individual health coverage or Medicare Part B, Part D or Medigap premiums for active employees.
Posted: February 26, 2015, 4:00 am
When we think of things that are dirty (real items, not someone’s mind), public restrooms immediately jump to the top of the list. Yet, in the grand scheme of things, there are items far dirtier and you probably handle them on a daily basis.
Posted: October 5, 2015, 4:00 am
You know what they say about people who assume. When it comes to a company’s intellectual property, never assume anything. Just because you think something is proprietary and confidential doesn’t mean that it is, or that someone else will feel the same way you do.
Posted: September 28, 2015, 4:00 am
The U.S. Senate, following the House of Representatives, has passed House Resolution 1624, the “Protecting Affordable Coverage for Employees Act” or “PACE Act” which will be sent to President Obama’s desk for signature. It is anticipated the President will sign the Act into law.
Posted: October 9, 2015, 4:00 am
The Affordable Care Act (ACA) implemented section 6055 of the Internal Revenue Code, which requires IRS reporting from any entity that provides "minimum essential coverage" (MEC) to individuals. Employers who are applicable large employers (ALEs) have related reporting obligations under section 6056.
Posted: August 28, 2015, 4:00 am