At Sterling Benefits, we are proactively working with multiple resources to dissect the various facets of the law and to understand the guidelines and timelines it presents to our clients. You can expect that we will provide ongoing communications and information as interpretation and implementation details continue to unfold from the government.

Our priority at Sterling Benefits is to stay focused on delivering value and quality customer service to our customers as we work together with health care reform. Significant changes will take place in 2014. In the meantime, there are some items that will require attention much sooner. We will keep you posted as details and clarifications from the government are made available. We encourage you to review this information and utilize our office as a resource in addressing questions and concerns.

Monday, April 8, 2013

Affordable Care Act Coverage: 5 Key Numbers

Amidst the confusion, there are some key numbers in the law, and the ADP research that can help make sense of the 2014 health insurance requirements:
  • 50. That's the number of full-time employees that determines whether an organization is a small employer under the law.
  • 30/130. Employees with more than 30 hours of service per week or 130 hours of service per month must have access to employer-sponsored health care benefits
  • 9.5. The law says employer-offered health insurance is not affordable if the cost to purchase coverage totals more than 9.5 percent of an employee's wage income per a W-2 statement.
  • 45,000. This is the annual income level that ADP finds separates employees who generally buy health insurance from those who don't.
  • 8.6. In its research, ADP found that 8.6 percent of the single employees in its client companies had to pay more than 9.5 percent for health insurance.
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