For more than a year, Affordable Care Act (ACA) experts from TriNet have been traveling to cities across the country to bring vital information on the ACA to the businesses that need it (hint: that’s ALL businesses)!
Dozens of business owners and managers attend these wildly popular two-hour events, which take place either over complimentary lunch or refreshments in every major market where TriNet operates.
But what are these ACA Over Lunch and ACA Over Drinks events and why are they so important to business success?
Well, as it turns out, the ACA is complex – and, to add to the complication, it always seems to be changing. For many entrepreneurs, the opportunity to have the ACA broken down into digestible bits, live and in-person by an ACA expert, is just the trick to take them from ACA confusion to ACA comprehension.
Here is just a sampling of what small and midsize businesses just like you take away from these events:
Whether or not you’re an applicable large employer
Don’t worry, this isn’t as complex as it sounds. Simply stated, an applicable large employer (ALE) is a company that employed a monthly average of 50 or more full-time equivalent employees during the prior calendar year. The part you need to worry about (and we can help with) is figuring out if your company is an ALE.
Determining ALE status means understanding the “equivalent” part of “full-time equivalent” and knowing how to calculate the average number of employees. This is especially important for companies that have recently grown to meet or exceed 50 employees, companies that have dipped below the 50 mark and those companies that hire seasonal, temporary and/or part-time employees.
We provide an ALE calculator to help take the frustration out of all of this and the ACA events include more information on how to use it.
How your company size affects how you’re regulated
Depending on whether your company has 50 or more full-time equivalent employees or fewer than 50 will change quite a bit about how you need to comply with ACA regulations. This includes how employee hours are tracked, IRS section 6056 and other reporting requirements, and how benefits are funded, among other factors. Sound complicated? Confused? Not to worry – attendees walk away with a much better understanding of what all of this means.
Which employees are eligible for benefits under the ACA
There is no one-size-fits-all solution for all employers. However, the TriNet ACA events can simplify figuring out exactly what you need to do to maintain ACA compliance. You’ll learn to identify variable-hour and seasonal employees, as well as understand what the measurement, administrative and stability periods mean for your business.
The meaning of “pay or play” and why things aren’t always as they seem
The ACA events give valuable insight into the three simple steps you need to know to control your compliance, as well as how to avoid some common pitfalls that can result in heavy fines. When it comes to “pay or play,” we tell you the real consequences of making the wrong choice.
Dealing with the ACA can be time-consuming and a drain on your ability to run your business effectively. Fortunately, there’s a better way to ACA. These ACA events provide you with knowledge of the resources that exist to keep you ACA compliant and minimize the hassle – so you can focus on driving business success, not on regulations. You may be surprised how much help there is out there.
One of the great benefits of all TriNet events is the ability to network with other business owners and entrepreneurs in your area. This creates an environment of collaboration and camaraderie that is unique to such an event.
To find out when the next TriNet ACA event is coming to your town, email fieldmarketing@TriNet.com. You can also stay updated on ACA regulations, TriNet events and other HR matters that affect you by following us on Twitter, Facebook and LinkedIn.
This communication is for informational purposes only; it is not legal, tax or accounting advice; and is not an offer to sell, buy or procure insurance.
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