COVID-19 has caused a great deal of uncertainty and confusion across many sectors as the situation continues to evolve and introduce new challenges. Given the unprecedented nature of the current situation, there is no playbook for risk and compliance management. BenefitScape is prepared to assist your organization with navigating this situation to ensure complete ACA Compliance and Reporting in the near future.
Some sectors may be experiencing mass hiring and onboarding. There are a few considerations that can be taken during this process to ensure complete ACA Compliance and to provide a better benefits experience for these new employees:
1) ACA Compliance: Applicable Large Employers (ALEs) must offer all benefits-eligible employees a health plan offer that is Affordable, meets Minimum Value, and meets the ACA’s Minimum Essential Coverage (MEC) threshold within three months of date of hire. As a reminder, any employee scheduled to work more than 30/hours per week or 130/month is deemed Full Time, and your organization must have a health plan offering for these employees.
2) Benefits Enrollment: As your organization experiences mass hiring, that also means an increase in people working through your benefits enrollment system. BenefitScape recommends that your team have a plan in place to support these employees during this swift and complicated process.
3) Rehire Support: For Full Time employees who were furloughed or laid off and are being rehired within 13 weeks of their last day at work, your organization will need to ensure that their most recent offers of coverage remain in place.
Increased hiring in these uncertain times is a positive sign, but we also want to make sure that your organization is continuing to meet ACA Compliance and Reporting requirements. BenefitScape is prepared to support you and your team! Call us at (508) 655-3307 or email firstname.lastname@example.org if you have any questions.