Wednesday, April 16, 2014

Home News Administration releases new health care regulations

Administration releases new health care regulations

Industry News

The comprehensive "proposed rule" guidance is intended to give employers sufficient time to comply with the law.

| January 8, 2013

From SAF: On Friday, Dec. 28, 2012, the U.S. Treasury Department and the Internal Revenue Service announced long-awaited regulations for implementing the Patient Protection and Affordable Care Act (PPACA). Though not yet final, the comprehensive “proposed rule” guidance is intended to give employers sufficient time to comply with the law and to mitigate potential tax liabilities for non-compliance.

The proposed announcement clarifies definitions from the statute and also covers rules for:
•    Determining status as a large employer
•    Determining full-time employees
•    How tax penalties will be assessed for not offering coverage to full-time employees and their dependents
•    How tax penalties will be assessed for offering coverage that does not meet standards for affordability and          minimum value
•    The administration and assessment of excise taxes

Several key points are contained in the proposed rules. First, large employers that maintain a non-calendar year plan will be provided some transition relief so that they are not required to make mid-year changes to meet the law’s coverage requirements on Jan. 1, 2014. The new regulation also provides relief to large employers that opt to apply a look-back measurement period to determine who is a full-time employee. Additionally, small employers will be given transition relief for determining large employer status this year in advance of the January 2014 deadline.

Click here to continue reading.

Top news

Dealing with drought

L&L talked with landscapers throughout the state to see how they’re faring with the conditions.

John Deere Landscapes makes an acquisition

Eljay Irrigation in Canada will integrate immediately with JDL.

Davey names new President of U.S. Operations

Patrick Covey has been with the company for 20 years.

Finding a fit

Silvis Group is always recruiting to find the skill sets that produce great service.

Affected by the elements

After drastic weather in 2013, LCOs need to keep a close eye on pests this spring.