Are your employees covered?
Despite fevered debate and numerous legislative efforts, the Affordable Care Act (ACA) is still in effect. So if you’re an employer with 50 or more full-time employees, you could face penalties if you don’t provide your workers with adequate health insurance.
You might initially think that you must provide full-scale health insurance policies to your full time employees to maintain ACA compliance. However, there may be better options to provide quality coverage for your staff.
Through our ACA compliance services, you can make sense of this complex legislation and track any changes that could be on the horizon. Our team can assess the impact of the employer-shared responsibility rules and suggest a variety of solutions for employer-provided health benefits. We can help you determine whether you fall under ACA requirements, review staffing structure to see how it impacts qualification, evaluate affordable coverage options, and assist you with ACA compliance.
Is Your Company ACA-Ready?
Contact us today to see where you stand.
Tackling ACA Requirements
To remain within ACA compliance employers must:
- Track hours of service
- Determine whether they are a large employer subject to the law
- Identify which full-time employees can trigger a penalty
- Understand the consequences of not offering basic coverage to full-time employees
- Consider whether to offer affordable, minimum value coverage
- Determine whether to “pay or play”
- Report required information to the IRS
Do you have the experienced personnel to perform these steps and establish an ACA strategy? If you’re not sure, then you need a multi-disciplinary team that can guide you through the process.
We can help!
Our Health Care Implementation Team can assess the impact of the employer shared responsibility (“pay or play”) rules. We’ll also model multiple scenarios for employer-provided health benefits to find one that works best for your company. With this service, we’ll help you:
- Determine your number of full-time employees and whether you are an “applicable large employer” subject to employer-shared responsibility requirements
- Determine the impact of the employer-shared responsibility (“pay or play”) requirements over multiple years
- Assess the impact of adding or dropping employees
- Assess the impact of increasing or decreasing employee contributions to the cost of coverage
- Assess the impact of converting employees from full-time to part-time status
- Create a strategy for defining measurement, administrative and stability periods within the requirements of the ACA for the purposes of ongoing ACA compliance and reporting
- Evaluate the affordability of health care coverage for your company
- Help you understand the relevant requirements of the ACA, remain compliant and minimize taxes and penalties.
Need more information? Check out our articles on ACA, tax and other matters that concern you.
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Julie Kniseley, SHRM-SCP
Director, HR Solutions
Julie has over 30 years of diverse human resources management experience that spans start-ups to established organizations. She has worked extensively in all facets of human resources including audits and compliance, benefits and compensation, recruiting, employee and labor relations, training and development, and policy design and has experience in both union and non-union environments.
Julie leads the James Moore HR Solutions Consulting team, which provides clients with guidance and solutions to build and improve their HR infrastructure. Clients include start-ups, non-profits, government entities, construction companies, medical practices and more. She is regularly asked to give presentations to various professional organizations. In addition, Julie directs the day-to-day operations of James Moore’s internal HR team.
Julie earned a Bachelor of Arts in Communication from the University of Toledo. She is a member of the Society for Human Resources Management (SHRM) and a SHRM Senior Certified Professional.
Erin Spiwak, CPA
Partner
A certified public accountant in the state of Florida, Erin has over 20 years of experience in the accounting industry. She also oversees our wealth management practice, which addresses investment strategies, retirement planning and insurance needs.
While she works with a wide variety of clients, Erin specializes in helping companies in the automobile dealership, healthcare, real estate, technology and professional services industries. Having been at James Moore since 2004, she has served many businesses since their inception—watching them grow from opening their doors to becoming well established in their fields.
In addition to her client service, Erin regularly gives presentations internally and to organizations on tax-related topics and is a member of the Health Care Administrators Association.
Jay Hutto, CPA/ABV/CFF, CVA
Partner
As a CPA in the state of Florida, Jay has more than 30 years of experience providing personalized accounting services including auditing and tax services, business consulting, business valuations and litigation support. While he has worked with clients representing the real estate, manufacturing, professional services, dealership and retail industries, he has significant experience addressing issues and providing solutions for healthcare-related entities. As such, Jay leads the firm’s Healthcare Segment Team.
Jay works primarily with for-profit clients looking to maximize revenue and minimize expenses, and he is dedicated to providing them peace of mind that they’re getting the best possible tax savings. His guidance helped one client avoid a $500,000 tax liability with a cost segregation study, and he helped another client eliminate a $50,000 IRS tax penalty. He also takes a proactive approach to revenue enhancement, cost controls, applying best practices, and emphasizing the importance of having the right policies and procedures already in place (instead of as a reactive remedy) to best facilitate business growth.
Jay also specializes in preparing business valuations and litigation support services and has earned several accreditations including the Accredited in Business Valuation (ABV), Certified in Financial Forensics (CFF) and Certified Valuation Analyst (CVA) designations. Litigation support services include related party transactions, fraud, child support, divorce and dispute resolution.
Nadia Batey, CPA
Partner
A certified public accountant in Florida, Nadia has been providing extensive tax advisory and compliance services to a variety of businesses and individuals for almost 20 years. She works with clients in a broad range of industries, including real estate and nonprofit.
Throughout her career, Nadia has developed advanced knowledge working with Multi-State C-corporations, S-corporations and partnerships in matters relating to multi-state taxation. As a result of this experience, she leads the firm’s State and Local Tax team where she has helped countless companies of all sizes navigate the requirements of state and local tax. As a tax partner, she is responsible for planning and completing complex tax projects while directly managing client service teams.
Having been self-employed for several years prior to joining the firm, Nadia has a unique understanding of the struggles of small businesses. This enables her to provide better insight into the tax issues her clients face and how to overcome them.
Nadia is also very active with her church and with the Boy Scouts.
Stacy Joyner, CPA
Partner
A certified public accountant in Florida, Stacy has been providing extensive tax advisory and compliance services to a variety of businesses and individuals for over 15 years. The leader of the firm’s Accounting & Controllership Services department, her expertise lies in small business and tax accounting, with an emphasis on the healthcare and technology industries. Her knowledge of research credits and other tax-saving opportunities for her clients make her a key member of the Technology and Healthcare Services Teams.
Stacy’s client service approach includes not only her tax and accounting expertise, but also the value she creates through collaboration. A lifelong Gainesville resident, Stacy has deep roots in the business community – allowing her to help her clients make professional connections that can help them grow and thrive.
Stacy is seen as a leader and mentor at James Moore; she enjoys serving as a career advisor and helping staff achieve their career goals. She is passionate about continuing to strengthen and foster the strong family-feel culture found at James Moore. Outside of the firm, she serves as the treasurer for the Rex and Brody Foundation and is an alumnus of Leadership Gainesville 40.