What Goldilocks can teach you about health care reform

Simple checklists can help you identify health care options that are “just right” for your company.

This post is sponsored by Aflac.

Remember Goldilocks, the fairy tale home invader who rifled through the three bears’ belongings before settling down for a comfy nap?

While Goldie assessed the bears’ possessions as too big, too small or just right, business decision-makers are attempting to assess what they must do to comply with the changes brought about by health care reform. After all, how companies react to and implement the Affordable Care Act’s 1,000-plus pages of guidance, regulations and notices depends on how many full-time equivalent employees they have on staff.

Aflac has compiled targeted health care reform checklists for businesses large, medium and small. To quote Goldilocks, one of them should be “just right” for your company:

• If you have 25 or fewer employees: Find out if you’re eligible for the Small Business Health Care Tax Credit, which can cover a maximum of 50 percent of a small business’s premium costs, and learn about offering insurance through the SHOP marketplace. See the full checklist for companies with 25 or fewer employees.

• If you have 26-50 employees: Learn about offering insurance through the SHOP marketplace, including which employees must be offered coverage, and get details about the required summary of benefits coverage. See the full checklist for companies with 26-50 employees.

• If you have 51 or more employees: Learn the definitions of “affordable” and “minimum value” health care coverage to ensure your company doesn’t incur penalties, and find out what you’re required to tell employees about their coverage options. See the full checklist for companies with 51 or more employees.

To learn more about protecting your business and complying with health care reform’s Employer Shared-Responsibility Requirement, check out a straightforward list of the five things you need to know and do to guard against health care reform penalties. More health care reform resources are available at aflac.com/HCR.

This article is for informational purposes only and is not intended to be a solicitation. The material mentioned within is intended to provide general information about an evolving topic and does not constitute legal, tax or accounting advice regarding any specific situation. Aflac cannot anticipate all the facts that a particular employer or individual will have to consider in their benefits decision-making process. We strongly encourage readers to discuss their HCR situations with their advisors to determine the actions they need to take or to visit healthcare.gov (which may also be contacted at 1-800-318-2596) for additional information.

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