Affordable Care Act (ACA)

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Presentation transcript:

Affordable Care Act (ACA) Mandate Review

ACA Individual Mandate 2014 – 2018: Individuals required to have minimum essential health insurance OR pay penalty while filing income tax returns December 2017: Tax Cuts and Jobs Act passed which eliminated individual mandate penalty effective January 1, 2019 December 2018: Texas Judge ruled the individual mandate unconstitutional due to the elimination of penalty; furthermore, declared the entire ACA law invalid Future of this litigation is unknown; therefore, all aspects of the ACA should continue to be administered/enforced.

ACA Employer Reminders Hours Worked Requirement Required to offer affordable, minimum essential health insurance up to 95% of full-time employees (FTE) FTE defined by the ACA as an employee that works an average of 30 or more hours per week Required to report to the IRS annually regarding offers of affordable, minimum essential health insurance

ACA Employer Reminders Hours Worked Requirement Institutions/Departments need to continue to keep student help under 25 hours per week Per UPS Operational Policy: GEN 20 All supervisor should review Hours Eligible to Work Schedule on HR website (www.uwosh.edu/hr) under Current Employees – Student Employees

ACA Employer Reminders Marketplace Notice Requirement Institutions should provide the Health Insurance Marketplace Notice to employees within 14 days of hire. Human Resources provides this notice to new hires via contract letter; for students, via email after hire/rehire Important to process all hires timely so our institution can remain compliant with requirement

ACA Employer Reminders Shared Responsibility Penalties Penalty I (no offer of coverage penalty) – Applies IF… Employers do not offer affordable, minimum essential health insurance coverage OR Do not offer to 95% of FTE’s AND at least one FTE gets coverage through the Marketplace AND receives a premium tax credit/subsidy Penalty of $2,320 per FTE applies to all (but 30) FTE’s Estimate $67.3 million for UW System

ACA Employer Reminders Shared Responsibility Penalties Penalty 2 (inadequate coverage penalty) – Applies IF… Employers offer health insurance coverage to 95% of FTE’s; however, not affordable OR does not provide minimum value AND at least one FTE gets coverage through the Marketplace AND receives a premium tax credit/subsidy Penalty of $3,480 per year (or $290 per month) per FTE that receives premium tax credit/subsidy April 2018: UW System received notice for 2015 plan year filing that contained 16 employees. After further review, it was determined that UW System owed a penalty for one employee. UW System responded to the IRS timely and paid a $3,120 penalty. Affected institution notified directly.

Benefits One-on-One Review Sessions What is it? Half hour consultation per employee to review current coverages and answer questions about your current and potential coverages Available Wednesday, March 13 & Thursday, March 14 - 8:00 - 4:00 Tuesday, March 19 & Thursday, April 16 - 10:00 – 6:00 Wednesday, April 17 & Thursday, April 18 - 9:00 – 4:00 How sign up? Email sent from HR Benefits (benefits@uwosh.edu) on Monday, March 4 Reserve your spot online via email announcement

Benefits Retirement Presentation On-Site at UW Oshkosh Presented by Human Resources Benefits Specialist What? Learn the basics of the WRS retirement program, investment options, planning considerations, insurances, leave, and more. Open to all interested; no reservation required When / Where? Date Location Time Thurs., March 21 Clow L101 11:00 – 12:30 Wed., March 27 Sage 1210 12:30 – 2:00

Benefits WRS Retirement Presentation Online & In-Person Statewide Presented by Department of Employee Trust Funds (ETF) What? These evening presentations are free, two hours in length and designed for all WRS members, especially those who are within five years of retirement. Online presentations require registration; in-person no reservation necessary Where / When? visit the ETF Bulletin: http://etf.wi.gov/employers/bulletins_all/eba20190226.pdf Or go directly to interactive map: http://etf.wi.gov/member_education.htm#tab2

Benefits Wisconsin Retirement System Live Webinars Presented by Department of Employee Trust Funds (ETF) What? ETF is offering a series of 30-minute, live, interactive webinars that review WRS benefits. Individuals can also ask questions at the end of these sessions. Where / When? Visit the ETF live webinar schedule to register: http://etf.wi.gov/member_education.htm#tab3

Benefits Biometric Screenings For those that carry State health insurance Monday, April 29 and Wednesday, May 8 8:00am – 12:30pm in Reeve Union Sign up via StayWell – https://wellwisconsin.staywell.com No cost to you/spouse (including co-pay) Have staywell site up to show the different features

Benefits Annual Health Fair Mark Your Calendars: Monday, April 29, 2019 Reeve Ballroom from 9:00am – 1:00pm Events: Biometric screenings – pre-registration required Free exercise courses – Albee Hall Vendors from around the area Watch your email for details!

Prizes will be given to teams that have: Best Team Name Best Team Spirit day of (dress in best St. Patty’s Day attire) Biggest Team Race starts at 10:00am at SRWC Day of Registration is from 8:30 – 9:30 am Individual Registration: $20/person (early-bird deadline Mar 10) Day of Race Registration: $25/person