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Follow on Google News | Beware - PPACA/Obamacare's Bite is Worse Than Its Bark!For Employers and Brokers It's time to take PPACA/Obamacare seriously! For Employers - Failure leads to substantial Penalties (Taxes) and Fees. For Brokers – Failure leads to E&O Problems. The time to act is NOW!
By: BenefitPlace / BPTradeShow.com Employers Beware - If you have 50+ Employees - Watch-out - Beware of the Dog! The "Large Employer Penalties • $33 billion dollars in employer paid penalties between 2014-2019 • Predicted that in 2019, revenue obtained from employer penalties will be $6.3 billion – which accounts for $1,070 for each of the 5.9 million workers employed by large employers who chose the penalty over offering insurance" Spilman Thomas & Battle So what should an Employer do to prevent IRS Dog Bites? We recommend working with a Broker/Advisor who is well versed in PPACA and the plethora of guidelines and regulations rolling-out from HHS, DOL, EBSA, IRS, and other agencies. Russ Blakely and Associates, LLC suggested 8 questions to ask a Broker when seeking their services! Go To - http://russblakelyassoc.com/ Brokers Beware - When the IRS bites into the Employer you may become the target of Errors and Omissions claims! As Andrew Martin, President of Martin Benefits Group, points out: "I predict that most health insurance brokers will fail out of this business. The technical aspects of PPACA will drive them away or get them in trouble with their E&O insurance coverage. Those who survive will embrace PPACA, learn it, and be a value to employers who will much need your expertise. If you are the latter you will make more money than you do now and have more clients than you can shake a stick at...but ONLY if you become an expert. Resisting and bitching about PPACA WILL NOT PUT YOU IN A FRAME OF MIND TO KNOW AND UNDERSTAND THE MECHANICS OF IT. Chaos creates opportunity and that is exactly what is happening now". The question may be - Are Benefits Brokers still relevant? The Answer - Absolutely, now more than ever! The Broker is the one strategic partner positioned to bring the various pieces of health care reform into focus for all parties. Benefits brokers are the business partner with a thumb on the pulse of the regulations; The role of the Broker has been changed dramatically - as well as their revenue streams! Brokers will survive by becoming Trusted Advisors! The survivors will be those who have taken the time to educate themselves about Reform and are capable of providing Employers viable, compliant Strategies and Solutions. The following are 4 ways to get started - the links will provide additional information: PPACA/Obamacare Coaching Sessions (http://www.benefitplace.biz/ Understanding the Value of Private Exchanges (http://www.benefitplace.biz/ Integrating Emerging Technologies (http://www.benefitplace.biz/ Inbound Marketing (http://www.benefitplace.biz/ Employers have been awakened by the Bark and want to avoid the Bite! For more information Email - max@benefitplace.biz (https://mail.google.com/ End
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