Navigating the complexities of the Affordable Care Act (ACA) compliance can be challenging for skilled nursing and assisted living (SNF/AL) facilities. AHCA/NCAL’s exclusive partner, Compass Total Benefit Solutions (Compass), understands the intricacies involved and will help ensure that your benefit plans are compliant and optimized for the well-being of your employees.
The ACA mandates that employers provide affordable, minimum essential coverage to their employees or face potential penalties. Ensuring compliance involves several key strategies:
- Accurate Reporting and Documentation:
Keeping precise records and reporting accurate information to the IRS is critical. This includes tracking employee hours to determine full-time status and ensuring that all data submitted is correct.
- Affordability and Minimum Value:
The ACA requires that the health plans offered to employees must be affordable and provide minimum value. This means that the employee's share of the premium for the lowest cost plan should not exceed a certain percentage of their household income.
- Regular Audits and Reviews:
Conducting regular audits of your benefits plans can help identify and address any compliance issues before they become problems. This includes reviewing plan documents, enrollment procedures, and communication strategies.
- Employee Communication and Education:
Educating your employees about their benefits and how to use them is crucial. Clear communication helps ensure that employees understand their coverage options and the importance of maintaining health insurance.
- Staying Updated on Regulatory Changes:
ACA regulations can change, and it’s important to stay informed about any updates that could impact your compliance status. Partnering with experts who are knowledgeable about these changes can be beneficial.
Compass offers a range of benefit solutions designed to meet ACA requirements while supporting the unique needs of AHCA/NCAL members, including various health plan options, comprehensive health coverage, tailored benefit packages, and employee education.
The Compass Minimum Essential Coverage (MEC) Plan has no deductibles, no in-person visit limits, unlimited free telemedicine visits, tele-behavioral visits, pharmacy benefits, along with discounts for other benefits employees commonly use. Monthly premiums are $177 for employees with additional spouse, child, and family options available. 10 employee minimum.
The Compass Minimum Value Plans offer more robust employee health benefits that include plan options with no deductibles, hospital coverage and more. Two core plans starting at $464 per month are offered and a prime plan with the most benefits. 10 employee minimum for all plan options. Plans vary in CA, CT, and NY.
Nick Cianci is President of Compass and understands the needs of long term care providers. He has extensive expertise in the employee benefits field and provides free expert advice to assist AHCA/NCAL members with all their employee benefit needs. Nick can be reached at Nick@compasstbs.com or (860) 416-5333.