There are some upcoming mandates that businesses must meet in early 2016. These reporting mandates for businesses involve sections 1094 and 1095 and have to do with businesses over 50 employees reporting to the government what type of health insurance they are “offering” to their employees. Businesses with over 100 employees must offer their full time employees that work at least 30 hours a week, on average, health insurance that meets certain standards. Beginning in 2016, businesses with between 50-99 employees must do the same.
Meeting the 1094 and 1095 mandates of the Affordable Care Act
The offering of health insurance to larger employers have a reporting piece to the mandate. The reporting mandate is captured in the 1095 and 1094 sections of the law. The reporting involves employers having to report to the government what the offerings have been for the previous year. The reportings need to be for each employee for each month the employee was in employment. It can be a very arduous task, unless the business has a good broker that can assist them in the mandate.
Having a good Health Insurance Broker can make all the difference regarding Health Insurance mandates
Brokers can make a huge impact on the work of an HR Director or Controller of a company. If you have a broker that specializes in Health Insurance or Employee Benefits, they are on the cutting edge of all of the crazy mandates of the ACA. They are in a much better position to advise clients about ObamaCare than a broker that sells multiple lines of insurance. Health Insurance is so much more of a niche product than it was even a few years ago. The demands of employers now is beyond ridiculous, when it comes to offering certain benefits and the reporting aspects of same. Independent Brokers are even more in demand because they have a vested interest in making sure that their clients are compliant.
Brauer Insurance is the premier Bay Area Health Insurance agency that specializes in Group Benefits for companies of all sizes. We are a family owned and operated Independent company. The principal broker Steve Brauer is a former Police Detective and founded the agency in 2003. With the help of his wife and adult children, they have become one of the fastest growing and prominent Health Insurance agency in the Bay Area.