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MedBen Access Helps Rx Customers Be Savvy Shoppers

04/26/16

  10:57:00 pm, by MedBen5   , 219 words,  
Categories: Health Care Reform, Taxes, IRS, MedBen University

MedBen Access Helps Rx Customers Be Savvy Shoppers

Caroline Fraker

Affordable Care Act rules and regulations are a minefield that can trick up even a seasoned HR professional... and it's why MedBen Compliance is always ready to guide clients, brokers, and consultants through the details, via phone calls, meetings, webinars, and educational materials. And every year, ACA updates are an essential component of our MedBen University events.

A recent Benefits Pro article notes that since the introduction of the ACA, employers have been put "in the position of becoming compliance officers." And while it may be true that health care reform has loaded human resource departments with new and unwanted responsibilities, the MedBen compliance team makes every effort to lessen HR burdens as much as possible.

As the article notes, the potential fines for non-compliance of ACA laws are as varied as they are costly: "Employers will have to pay $2,160 per employee (after the first 30) if not providing health insurance or for an incorrect plan, and $3,240 for each employee getting a subsidy through the marketplace. Penalties for not filing certain documents in time, such as form 5500 or form 1094C, can add up to $1,100 per late day."

If you're a MedBen client, you never have to take on health care reform single-handedly. Any time you have a question, just contact our Vice President of Compliance Caroline Fraker at 800-851-0907 or cfraker@medben.com.

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