2013 is A Year for Change and Preparation

I hope you had a happy Holiday season and welcome to 2013!  2012 set the stage for some changes in the Human Resources world that are important to keep up-to-date on.  I encourage you to roll up your sleeves and get educated so you have answers for when employees come to you with questions.  The main question that will be on employees’ minds, company wide as well as within your HR department, is going to have to do with health care reform.  It seemed as though thoughts of making any changes regarding benefits were at a standstill until November.  I heard many concerns regarding benefits and what it means to businesses and benefits administrators.  That was the million-dollar question:  What’s going to happen with health insurance?  We all knew there was a plan in place, but who got elected definitely depended on the fruition of that plan.  Now that President Obama is in office for a second term, I think it’s safe to say there are going to be some changes regarding employee benefits.  Some will go into effect for 2013, but most will happen for 2014.  This year is a year of educating yourself about the changes on the horizon.  The main change I see benefits administrators and businesses concerning themselves with would be the “Pay or Play” mandate.  A clever name for a rule that means larger companies either need to provide health insurance to their employees, or pay a tax.  Although this new law is a mandate, it doesn’t technically require you to provide health insurance to your employees.  Instead, it gives you the choice to either offer minimum essential coverage to all full time employees, or pay an excise tax if you don’t offer coverage and at least one of your full-time employees is proven to be enrolled in coverage through a state health exchange for which he or she received a premium tax credit or cost sharing reduction.  Other changes you will need to be aware of are found at www.shrm.organd include the following:

 

  • Section 6055 IRS reporting for plans that provide minimum essential coverage
  • Section 6056 IRS reporting for large employers of at least 50 full-time employees, to verify individual mandate and pay-or-play information

 

At Serenity Staffing, we’re always keeping up on the latest news and researching the latest trends in Human Resources.  Small changes happen every day; the best thing to do when big shifts in our world are about to happen is to become prepared for them.  We want to be at the forefront of your mind for not only your hiring needs, but also to help guide you through health care reform. 

photo credit: Dave Dugdale