April '14

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66 • RV PRo • April 2014 rv-pro.com T hree years after the Patient Protection and Affordable Care Act (commonly called the ACA, or Obama-care) became law, many employers still don't grasp its basic elements, according to media reports. Despite the recent one-year delay in enforcement of the employer mandate penalty, small and mid-sized businesses should take steps now to be sure they're pre- pared for the upcoming changes set out in the ACA. Yes, there's a lot to consider, so it's crucially important for each business to consult legal counsel for specific guidance. But for well-prepared business leaders, there are cost-management strategies that can potentially help ease the burden. Starting on Oct. 1, 2013, individuals and small businesses started using the new health insurance marketplaces to begin evaluating health insurance plans authorized under the ACA. Businesses with 50 employees or fewer gained access to these marketplaces through the Small Business Health Options Program (SHOP). en, following some recently enacted tran- sition relief for employers, the law's employer-insur- ance provisions will take effect on Jan. 1, 2015, for employers of 100 or more, and on Jan. 1, 2016, for employers of 50-99 employees. Under transition relief — which was enacted to allow employers more time to understand and imple- ment provisions of the law — employers of 100 or more that offer coverage to at least 70 percent of their full-time employees in 2015 will not be subject to the employer mandate penalties as long as they provide minimum essential coverage that is "affordable," as defined by the law. Also, employers of 50-99 full-time employees will not be subject to the employer coverage mandate until 2016, assuming none of these employers reduced the number of full-time employees in order to qualify for such relief and these employers maintain health insur- ance coverage at previously-offered levels. Say, for example, that an RV dealership with multiple locations has 75 full-time employees, and its manage- ment team has determined that the company is sub- ject to the ACA's employer insurance mandate. at means the dealership is responsible for offering coverage Health Care Reform & Your RV Business Savvy RV dealers can prepare for upcoming health care law changes and gain an edge in the process. Jeff englander, CFA, is a senior vice president and senior research analyst on the GE Capital Industry Research Team; he is based in Norwalk, Conn. Tim Hyland is the president of the recreation/specialty vehicle team at GE Capital, Commercial Distribution Finance (CDF), based in Chicago. CDF provided $34 billion in financing for more than 30,000 dealers and more than 3,000 distributors and manufacturers in the U.S. and Canada in 2013. Programs include inventory and accounts receivable financing and related financial products. For more information, visit www.gecdf.com. Three years after the Patient Protection and Affordable Care Act (commonly called the ACA, or Obama-care) became law, many employers still don't grasp its basic elements. Employers can take steps right now to begin managing their health care-related costs. RVPApr.indd 66 3/19/14 3:32 PM

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