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The holiday season is a frantic time of year and it coincides with cold and flu season - add on top of that employees stretched thin due to work and family responsibilities, and self-care, like exercise, good nutrition, and sleep can fall by the wayside. This puts employee engagement at risk.

According to Forbes, healthy employees are essential to a high-functioning organization. Employees’ general awareness is directly related to success in the workplace, and sick employees (whether acutely ill or chronically ill) cannot focus as well on their work as healthy ones. Healthy employees who are aware of their responsibilities and can keep a clear head are better able to stay organized and to manage their stress. Encouraging and managing self-care to promote overall wellness culture in the workplace should be a primary objective, and your organization can promote a lifestyle that leads the way to better health for employees.

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It may seem premature to begin thinking about 2017 tax season when we haven’t even started in on the 2016 one yet, but when it comes to the ACA earlier is always better.  Especially if your organization is – or will be  - an applicable large employer (ALE) in 2016, and required to offer 95% of employees affordable healthcare. Understanding all of the employer mandates – from dependent care, to cafeteria plans, to the shared responsibility requirement – is absolutely crucial to planning for 2016 and essential to saving potentially multiple thousands of dollars in penalties.

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Perhaps the best-known ACA requirement for organizations is the employer shared responsibility mandate – otherwise known as the “pay or play” mandate. Put simply, under the rules of the ACA, applicable large employers (ALEs; 100+ employees in 2015) must provide affordable minimum essential coverage to at least 70% of their employees (95% in 2016). If this requirement is not met, either because 1) no coverage is offered; or 2) because coverage is determined not to be affordable and/or does not meet minimum value, then organizations will be responsible for hefty penalty fees.

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In addition to the very well-known ACA employer mandate, there are myriad of other lesser-known ACA requirements that could pack a punch for organizations that are noncompliant when it comes to penalty fees on 2015 tax returns.  Knowing the breadth and depth of these mandates and determining if you are in compliance (or how to achieve compliance if possible) will save on surprises come 2016.

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The ACA has introduced a number of terms that are either brand new or newly applied to healthcare, and many are especially important to know when filling out 2015 tax returns. Besides the “pay or play” employer mandate and penalty, there are many other mandates – and corresponding penalties – that must be attended to in order to avoid noncompliance. Understanding key terminology is an important piece of the puzzle.

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As we come up on the 2016 tax season, many organizations with 100+ full-time equivalent employees are preparing to include health insurance information in tax returns for the first time (in accordance with the ACA employer mandate). In addition, organizations are also examining all of the other ACA mandates to ensure they meet the requirements around mandates such as dependent coverage, lifetime and cost-sharing limits, waiting periods, preventive care, patient protections, and cafeteria plans.

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The 2015 tax year is coming to a close, which means that 2015 tax penalties for ACA noncompliance are likely top of mind for many employers right now. While the employer mandate has received much of the press and attention, there are also many more ACA mandates that require action on the part of all organizations that provide group health coverage(not just those with 100+ employees).

In our rapidly changing world, innovation is no longer just a buzzword and instead has become part of the everyday business vernacular. For the healthcare industry in particular, innovation is the name of the game these days with the ACA driving creative entrepreneurs to develop increasingly progressive and transparent options – resulting in better and more affordable healthcare.  For traditional brokers and insurance carriers who have been in the game for decades, there is a sudden urgency to get on board or get off the train.

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Most grandfathered plans are offered by smaller organizations* (less than 200 people) that have typically offered traditional fully-funded plans through insurance carriers.  But while grandfathered plans may have some cost-containment advantages, they also significantly limit the amount of change that can be made to coverage – in costs, delivery, and services. In addition, grandfathered plans don’t cover many of the key consumer benefits that newer ACA plans do. Consequently, employees could face disadvantages when it comes to securing the same patient benefits, rights and regulations as those on updated plans.

As we close in on the 2016 healthcare enrollment period, it may be time to look at whether your organization still offers – and hopes to keep – at least one grandfathered healthcare plan. Employer-sponsored grandfathered plans are those that have had at least one person enrolled since March 23, 2010 and have not significantly cut benefits or increased costs for employees. Grandfathered plans are not required to cover preventative care or certain patient rights and responsibilities.