Affordable Care Act Checkup
Do you know the information required to make
the best decisions for your company’s
group benefits?
How many full-time employees and/or equivalents
do you currently employ?
One part of the employer mandate is based off these
numbers and could result in fines.
Do you know the formula to accurately calculate
your company’s full-time equivalents?
Your part-time employee hours add up to full-time
employees and are very important when determining
your total count.
How do you determine if your coverage is considered
affordable?
What is the maximum waiting period allowed,
per the ACA, for newly hired employees?
If an employee’s share of the premium cost exceeds a certain
percent of income this can result in a fine.
There is a 90-day waiting period which affects groups
of all sizes and plan designs. Significant fines can
occur if not met.
What is the SHOP marketplace and the benefits?
When should employees receive a summary of
benefits and coverage (SBC)?
Employees should receive an SBC:
• When they enroll in coverage for the first time
• At the beginning of each new plan year
• Within seven business days, if they request a copy
This time frame is important and the employer can
be fined for non-compliance.1
What is the employer mandate and how will it
affect your business?
The employer mandate d ictates that you, as an
employer, must offer affordable health insurance to all
full-time employees and their children (up to age 26).2
Under the mandate different rules apply and fines
could occur based on various reasons.
1
2
The Small Business Health Options Program (SHOP) can help
you provide health and dental benefits to your employees.
Not knowing this question could cost you a tax credit that
you may be eligible for.
I can help you understand your options, so you can make
informed decisions you feel good about. You’ve worked hard
for your business, let me work hard to help you protect it.
Call today!
Casey A Strong
Financial Representative
820 S Main St Ste 302
Saint Charles, MO 63301-3306
www.countryfinancial.com/casey.strong
[email protected]
(636)925-3860
Summary Benefits Coverage Fact Sheet, cigna.com
Employer Mandate Fact Sheet, cigna.com
Group policies are purchased through CC Services, Inc., from a third-party insurer not affiliated with COUNTRY Financial. In some states where
COUNTRY operates, CC Services, Inc. is also known as CC Services of Illinois, Inc. or CCSI of Illinois, Inc. Not available in all states.
Auto, home and business insurance policies issued by COUNTRY Mutual Insurance Company®, COUNTRY Preferred Insurance Company® and COUNTRY
Casualty Insurance Company®. Life insurance policies issued by COUNTRY Life Insurance Company® and COUNTRY Investors Life Assurance Company®.
Fixed annuities issued by COUNTRY Investors Life Assurance Company®. All issuing companies located in Bloomington, IL.
ADVERTORIAL
0116-502HC-20387-5/16/2016