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During our recent health care reform webinars, we learned that only 8 percent of the participants had already addressed the Patient Protection and Affordable Care Act (PPACA) and its impact on their organizations. For those who haven’t yet addressed it, the number one reason given was they wanted to see what happened with the election. Well, now we have those results.
“With virtually no change in the control of the Senate and House, we do not expect any significant changes to the PPACA,” says Anita Baker, managing partner of CliftonLarsonAllen’s employee benefit plan practice. “However, there will be an influx of guidance and regulations issued by the Department of Labor, the IRS, and the Department of Health and Human Services to ensure the provisions of the PPACA are implemented.”
Beginning in 2014, certain employers with more than 50 full-time equivalent (FTE) employees could be subject to penalties whether or not they offer a group health plan for their employees.
“While talking with benefits consultants and insurance brokers about this issue is important and encouraged, a CPA firm can provide an objective look at the financial impact of health care reform on your bottom line, irrespective of whether you retain your group health plan or drop coverage,” Baker adds.
In this webinar, our health care and employee benefits professionals helped participants weigh their options by providing insights on the impact these penalties could have on an organization from an operational, cost, and tax perspective. If you missed the webinar or wish to review the materials, you may listen to a recording of the webinar, download a PDF of the presentation slides, or read responses to the frequently asked questions received during and after the webinar.
The information provided here was last updated on October 31, 2012. Additional guidance and regulation governing the implementation of these issues is anticipated and could change some of the answers or content provided in the webinar.
Anita Baker, Employee Benefit Plans Managing Partneranita.firstname.lastname@example.org or 480-615-2410
Nicole Fallon, Health Care Manager Consultantnicole.email@example.com or 612-376-4843
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