Today’s update focuses on two new regulations recently issued by the federal government for the PPACA that provide further clarification on defining Full-Time Employees, and the Waiting Period an employer can impose before offering coverage to newly eligible employees. Under PPACA, Large Employers, employers with 50 or more full-time employees, are required to offer health coverage to full-time employees or may be subject a penalty (also referred to as “Pay or Play”) . While these new regulations do not address all elements of the “Pay or Play” requirements, it is important for large employers to understand these two definitions as a first step in preparation for compliance with this provision of the law. This update addresses only the new regulations and their definitions of Full-Time Employee and Waiting Periods, future updates will discuss the “Pay or Play” provisions – and penalties – in more detail. /sites/default/files/blog-content/u7/Compliance%20Update-FT%20Employee-Nov%202012.pdf
As always, please note that EBS is sharing this information to assist you with your compliance planning. We recommend that you contact your legal counsel with specific questions relating to the law, and how it might affect individuals covered under your plan.