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Tag Archive for: minimum essential coverage

Understanding the ACA’s 1094 and 1095

January 2, 2022/in ACA Compliance, MEC, News

The Affordable Care Act (ACA), enacted in March 2010, was created with the goal to make healthcare more affordable. All applicable large employers (ALEs) with 50 or more full time, or full time equivalent employees must offer ACA compliant benefits to at least 95% of their workforce, and their dependents.

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https://www.sbmabenefits.com/wp-content/uploads/2022/01/Untitled-design.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2022-01-02 10:31:562022-01-06 11:31:06Understanding the ACA’s 1094 and 1095

HIPAA vs FERPA: What’s the Difference?

November 21, 2021/in ACA Compliance, HIPAA

HIPAA stands for Health Insurance Portability and Accountability Act of 1996. Under this federal law, patient health information is protected and kept secure unless the patient gives consent to disclose their information. The patient has control of who has access to their records.
Physical activity doesn’t always mean an intense hour-long workout at the gym every day. While this form of exercise has great benefits, it’s not for everyone.

Read more
https://www.sbmabenefits.com/wp-content/uploads/2021/10/SBMA-Open-Enrollment-Nov-1-copy-2.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-11-21 21:39:002022-07-01 08:51:57HIPAA vs FERPA: What’s the Difference?

Reviewing The ACA Times “ACA EMPLOYER PENALTIES ARE REAL AND THE IRS WILL BE ISSUING MORE”

November 14, 2021/in ACA Compliance, News

All Applicable Large Employers (ALEs) are required to offer at least 95% of full-time employees Affordable Care Act (ACA)-compliant Minimum Essential Coverage (MEC) benefits.

ALEs are any business with over 50 full-time employees in a calendar year. Full-time equivalent employees (anyone who works at least 30 hours per week) also count towards the 50 full-time employee tally.

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https://www.sbmabenefits.com/wp-content/uploads/2021/10/SBMA-Open-Enrollment-Nov-1-copy.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-11-14 21:09:002022-01-11 10:11:40Reviewing The ACA Times “ACA EMPLOYER PENALTIES ARE REAL AND THE IRS WILL BE ISSUING MORE”

Open Enrollment 2021-2022: What You Need to Know

October 31, 2021/in MEC, Open Enrollment

Open enrollment is the one period of the year where employees can sign up for health insurance or change a health insurance plan provided by the employer. Remember that this period also allows employees to disenroll in health insurance if they no longer wish to have coverage.

The only exception to enrolling, changing a health insurance service, or disenrolling is through a qualifying event. Qualifying events can vary depending on the state the employee resides in.

Physical activity doesn’t always mean an intense hour-long workout at the gym every day. While this form of exercise has great benefits, it’s not for everyone.

Read more
https://www.sbmabenefits.com/wp-content/uploads/2021/10/SBMA-Open-Enrollment-Nov-1.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-10-31 13:33:002021-11-30 17:09:29Open Enrollment 2021-2022: What You Need to Know

11 Minutes to a Longer Life

October 24, 2021/in Employee Engagement, Healthy Living

Living a longer, healthier life requires physical activity, eating healthy, and routine visits to the doctor. When these three factors work together, it allows you to stay your healthiest. In turn- your odds of living longer increase.
Physical activity doesn’t always mean an intense hour-long workout at the gym every day. While this form of exercise has great benefits, it’s not for everyone.

Read more
https://www.sbmabenefits.com/wp-content/uploads/2021/09/Oct-25-SBMA.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-10-24 10:47:002021-11-30 17:03:4411 Minutes to a Longer Life

Opt-in vs Opt-out Health Insurance: What You Need to Know

October 17, 2021/in Employee Engagement, Employee Retention

Large employers offering employees health benefits need to choose between opting all employees in automatically, encouraging them to opt-in, or making them opt out of health benefits. When it comes to health insurance, opting in and out plays a key part in enrollment. Using the right strategy can help you as a large employer provides coverage for your employees.

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https://www.sbmabenefits.com/wp-content/uploads/2021/10/opt-in-opt-out.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-10-17 22:27:002021-11-30 17:02:25Opt-in vs Opt-out Health Insurance: What You Need to Know

How Do I Get My Employees to Sign Up for Health Insurance?

October 10, 2021/in Brokers, Employee Engagement, Employee Retention

All businesses with over 50 full-time employees are required to offer health insurance or be penalized $3,860 per uninsured employee. Our Affordable Care Act (ACA) compliant MEC benefits calculator breaks down the cost of remaining incompliant vs. annual costs with MEC here. Offering Minimum Essential Coverage benefits saves over $180,000,000 annually.

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https://www.sbmabenefits.com/wp-content/uploads/2021/09/Oct-1121_Encourage-Employee-Health-Insurance_SBMA.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-10-10 22:05:002021-11-30 17:02:04How Do I Get My Employees to Sign Up for Health Insurance?

How to Eat Healthy on a Budget

October 3, 2021/in Employee Engagement, Healthy Living

Healthy eating doesn’t have to mean organic and overpriced. It’s possible to have a healthy diet while on a budget. You can still pick fresh produce that gives important nutritional value to your diet without breaking the bank.

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https://www.sbmabenefits.com/wp-content/uploads/2021/09/Oct-7.21_-Eat-Healthy-Cover_SBMA.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-10-03 20:49:002021-11-30 16:57:53How to Eat Healthy on a Budget

Why is Offering MEC Benefits More Affordable Than Not?

September 26, 2021/in ACA Compliance, MEC

The Affordable Care Act (ACA) was created in 2010. It was designed to ensure healthcare is affordable and available to more people. Under the ACA regulations, applicable large employers (ALE) are required to provide minimum essential coverage to 95% of their full-time or full-time equivalent employees (someone who works at least 30 hours per week). Companies who qualify as ALE have at least about 50 full time employees in a calendar year.

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https://www.sbmabenefits.com/wp-content/uploads/2021/09/Why-is-offering-MEC-benefits-more-affordable-than-not.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-09-26 20:31:002022-02-11 09:38:44Why is Offering MEC Benefits More Affordable Than Not?

Why You Should Offer Voluntary Benefits Plans

September 12, 2021/in MEC, Voluntary Benefits, Worksite Benefits

Voluntary benefits are referred to as employee-paid benefits or supplemental insurance. They are benefits offered by employers to their employees at no additional cost to the employer. The employees pay the full cost of the plan, but it’s made available to them through their employer.

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https://www.sbmabenefits.com/wp-content/uploads/2021/08/What-are-voluntary-affordable-benefits-plans-and-why-should-you-use-them-copy.png 924 1640 Beatriz Carias https://www.sbmabenefits.com/wp-content/uploads/2021/12/SBMA_Website-Logo_250x150.png Beatriz Carias2021-09-12 21:30:002021-11-30 16:48:01Why You Should Offer Voluntary Benefits Plans
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  • employees who miss open enrollment may be subject to a year without insurance unless they experience a qualifying eventWhat Happens if Your Employee Misses Open Enrollment?February 20, 2022 - 3:23 pm

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