Fall Into Compliance
2016 Affordable Care Act Compliance
Fall is my favorite season of the year, and always has been. I didn't always know this growing up in Southern California, as fall wasn't as much of a season until the holidays. Living now in the Midwest, however, has reinforced the season itself - the crispness in the air, the changing color of the leaves, football (fantasy and professional) and most importantly, time spent with family and friends. And no list of the awesomeness of fall is complete without acknowledging the best (non-alcoholic) drink ever created – the Starbucks Pumpkin Spice Latte (@TheRealPSL on Twitter – I kid you not). I love the fall.
Ironically, fall is also the season I have the least amount of time to enjoy all of these things. Working in the insurance industry means many things, one of which is a guarantee that September through December is a gold-plated marathon. January 1st is by far the most common date employer health plans renew, which means a significant increase in our workload starts four months ahead of that. It’s crunch time for our teams with much of the year’s work condensed into that period. The pace picks up significantly, and people are flying all over the place (literally and figuratively).
Fall is also a very busy time for many of you, dear readers. This year is going to be more so than the past. January 2016 signifies the date the Affordable Care Act (ACA) (finally) applies to virtually all employers with 50 or more full-time employees. It’s also the first time all employers subject to the mandate begin the task of reporting their compliance to the government. As you read this, prep time for the ACA is rapidly running out. It’ll go faster than you think.
Everything’s coming to a head in 2016; all of the ramp up will be over, and compliance with virtually all parts of the employer mandate will be required. If you want a refresher on what you need to do, go check out our popular ACA Playbook. Now in its third edition, we’ve expanded the topic list to provide even more details and strategies for dealing with the ACA.
So, fall is here. At the same time, don’t get so wrapped up that you forget to enjoy the time. Whether you like the season or not, lots of fun memories are there to be had – whether it’s the goofiness of Halloween, the splendor of the color spectacle on display as the leaves turn or just a simple fire in the fireplace, don’t miss out. Spend time with family and friends and don’t forget the PSLs!
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