Tag "Minimum Essential Coverage"

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What is ‘Minimum Essential Coverage’?

by Lisa Klinger Minimum Essential Coverage consulting through Washington Hospitality Association Healthcare Solutions There are several terms in the Affordable Care Act that sound similar and therefore cause some confusion.

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Minimum essential coverage and essential health benefits, minimum value, and actuarial value

To connect with a WRA Minimum Essential Coverage specialist for your company call 360-956-7279 There are several terms in the Affordable Care Act that sound similar and therefore cause some

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ACA: Nothing changes in 2017

The ACA Employer Mandate / Employer Penalty, originally set to begin in 2014, was delayed until 2015 / 2016. ObamaCare’s “employer mandate” is a requirement that all businesses with 50 or more full-time equivalent employees (FTE) provide health insurance to at least 95% of their full-time employees and dependents up to age 26, or pay a fee. ($2,000 per employee)

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Important dates for 2016 health care enrollment

Important dates for 2016 enrollment: November 1, 2015: Open Enrollment starts — first day you can enroll in a 2016 Marketplace plan January 1, 2016: First date 2016 coverage can start January

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Large employers find ACA loop-hole effective savings strategy

One of these strategies calls for companies offering a minimum essential coverage (MEC) plan along with an option that offers the usual benefits associated with the Affordable Care Act. The plan is set up so that employees have the opportunity to buy the more expensive coverage, which means the company fulfills its mandate to provide adequate insurance.

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Offering minimum health coverage saves big

The WRA has designed an insurance product that walks large employers through providing Minimum Essential Coverage to employees. If you qualify as a large employer, and are not aware of the benefits of providing MEC (savings, reporting compliance, and fine avoidance), then visit here to connect with a restaurant health insurance specialist. In the meantime, read up below, wrap your mind around your options, and get the ball rolling towards safe, intelligent, and moving saving insurance administration before its too late and you are on the hook for big fines.

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IRS Affordable Care Act Virtual Presentation: Employer Shared Responsibility and Information Reporting

The WRA has recently introduced MEC, a minimum essential coverage product that is helping applicable employers meet the Employer Shared Responsibility mandate as well as the information reporting component. Watch

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What is minimum essential coverage?

Large employers must offer full-time employees (and their dependents) an opportunity to enroll in minimum essential coverage under an employer-sponsored plan. There are two tests that apply: Minimum value, which