LAS VEGAS -
Nov. 3, 2013 -
PRLog -- Las Vegas November 3, 2013 Employer Healthcare & Benefits Congress Partners with Wroxtime to provide employers a solution to comply with the mandated safe harbor rule to measure full time and part time employees.
OnJanuary8,2013,theIRSissuedfinalregulationscreatingasafehar
bormethodthatemployersmayusetodeterminewhichemployeesarecons
idered“
full-time”and,asaresult,mustbeofferedcoverageundertheemplo
yermandate.
The Look Back safe harbor was created to ensure all Americans are given the opportunity to have and/or purchase health insurance. It was established by the IRS under the authority granted by the Patient Protection and Affordable Care Act (PPACA), sometimes referred to as ‘ObamaCare’
. As of January 1, 2014, large employers must either offer coverage to all full time employees (over 30 hours per week average) or pay a penalty. The Look Back safe harbor can be used to determine who would be considered “full-time”
under the law. While the penalty is effective in 2014, employers should start measuring employee hours now to ensure that they are not at risk for possible fines and/or penalties. Failure to provide affordable health coverage could be costly (amounting to penalties of up to $2,000 per full-time employee.
WorxTimewasdevelopedtoassistemployersinmanagingemployeehours
andbenefiteligibilitywitheasydatauploadwizards.WorxTimebegin
sthetestingandmonitoringprocessonceemployerscompletethesetup
wizard.Variousreportsprovideemployerswithvaluabledata;
suchas,whennewhiresbecomebenefits-
eligible,whichemployeesarelikelytoqualifyfor“
full-time”statusbasedonthetrendofhoursworked,whethercovera
geofferedqualifiesas“
affordable,”
andmoreallattheclickofabutton.AsHealthCareReformlawschange,n
ewreleasesofWorxTimewillallowyoutofocusonwhatyoudobest:
YourBusiness.WithWorxTimeReservations function, employers can reserve hours foremployees when they needthemmost,allowingtheemployertoremainproperlystaffedwitho
uttheemployeeshiftingto “full-time”
status.
ForMoreInformationvisit
www.worxtime.com