Navigation Links
Zane Benefits Publishes New Information on Small Businesses Health Insurance Requirements in 2014
Date:6/12/2013

Park City, Utah (PRWEB) June 12, 2013

Today, Zane Benefits, Inc. published new information on Small Businesses Health Insurance Requirements in 2014. Zane Benefits, which provides comprehensive and flexible alternatives to traditional employer sponsored health benefits, is the leader in defined contribution and health reimbursement arrangement plans.

According to Zane Benefits’ website, many small businesses are asking "starting in 2014, do I have to provide health insurance to employees?" According to the Affordable Care Act (ACA), no business has to offer health insurance. However, the ACA includes a mandate for certain large employers (with over 50 full time equivalent employees) to either offer qualified and affordable health benefits, or pay a tax penalty. This is commonly referred to as the employer mandate, “play or pay” requirement, or employer shared responsibility.

It is important for small businesses to understand whether they are defined as an applicable large employer by the IRS, as the mandate and employer tax penalties only apply to the small business if considered an applicable large employer.

No Mandate or Penalties for Employers with Less Than 50 Employees

According to Zane Benefits’ website, if a business has less than 50 employees, the mandate and tax penalty does not apply to the small business.

How the IRS Defines “Applicable Large Employer”

According to Zane Benefits’ website, for the majority of businesses calculating whether the business is an applicable large employer is a simple calculation. However, for businesses on the border with many part-time or seasonal employees, the calculation will be more in-depth. In general, if the business employed an average of 50 or more full-time equivalent (FTE) employees during the previous calendar year, the business is considered an applicable large employer for the current year.

First, a business is defined as an applicable large employer on a calendar-year basis. For example, a business could be an applicable large employer in 2015, but not in 2014. Did the business employ 50 or more full-time employees on average during the preceding calendar year? If yes, then the business is an applicable large employer for the current calendar year.

Second, the business is NOT an applicable large employer if the business employed less than 50 full-time employees on average during the previous calendar year, or the business employed more than 50 full-time employees no more than 120 days during the previous calendar year due to a seasonal workforce.

Calculating Full-Time and Part-Time FTEs

According to Zane Benefits’ website, for the purposes of determining whether a business is an applicable large employer, a business must include all full-time employees plus the full-time equivalent of part-time employees. A full-time employee is defined as working on average at least 30 hours of service per week in a given month.

Next, a business factors in part-time employees. To calculate the full-time equivalent of part-time employees, add the number of hours worked by part-time employees in a given month and divide the total by 120.

Finally, the sum of the full-time employees and the full-time equivalent of the part-time employees is the number used to determine whether the business is an applicable large employer. If the sum is 50 or over, the business is an applicable large employer.

Click here to read full article, and access FTE worksheets.

--

About Zane Benefits
Zane Benefits was founded in 2006 to provide a revolutionized SaaS (Software-as-a-Service) administration platform ("ZaneHRA") for Health Reimbursement Arrangements (HRAs) and defined contribution health care. The flagship software provides a 100% paperless administration experience to employers and insurance professionals that want to offer better health benefits without a traditional group health insurance plan at lower costs. For more information about ZaneHRA, visit http://www.zanebenefits.com.

Read the full story at http://www.prweb.com/releases/2013/6/prweb10827415.htm.


'/>"/>
Source: PRWeb
Copyright©2012 Vocus, Inc.
All rights reserved

Related medicine news :

1. Talking to Yourself Could Have Mental Benefits
2. Research examines when benefits of screening mammography outweigh the harms for women in their 40s
3. Everyday fish oil capsule may provide kidney-related benefits
4. Back Pain Therapy Often Yields Early Benefits: Study
5. Benefits of Widespread Statin Use Outweigh Risks: Study
6. Accelerated chemotherapy given before surgery benefits patients with muscle-invasive bladder cancer
7. Experts call for clinical trials to test non-skeletal benefits of vitamin D
8. Flu shot during pregnancy shows unexpected benefits in large study
9. Zane Benefits Announces Wellness HRAs: A New Way to Reward Healthy Employees
10. Tai Chi increases brain size, benefits cognition in randomized controlled trial of Chinese elderly
11. MTSS-mba Membership Benefits Administration Software for Private and Taft-Hartley Employee Benefit Funds Releases New Pension Modules
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/21/2017)... ... , ... In the United States, 20 million women and 10 million men ... feel shame for having struggled with an eating disorder as well as common co-occurring ... in Life After an Eating Disorder” -- to be featured at this year’s iaedp ...
(Date:1/20/2017)... ... ... Aquatics Launches New ADA Portable Motion Trek BP 300 Lift. Built for durability, this pool ... it can be wheeled out of the way and stored when not in use. It ... transformed the feedback from customers into specific enhancements and created a new product that is ...
(Date:1/20/2017)... Texas (PRWEB) , ... January 20, 2017 , ... Yisrayl Hawkins, Pastor and Overseer at ... the bible in homes across the world. Yisrayl says this generation is a time like ... is to turn to the Bible. , Yisrayl says he does not want to sound ...
(Date:1/20/2017)... ... , ... Doctor C LLC, a company based out of Arizona that focuses ... the marketing and distribution of its product, The Right C. , The Right C ... than traditional vitamin C supplements. At the trade show, Doctor C had the opportunity ...
(Date:1/20/2017)... , ... January 20, 2017 , ... Lice Troopers, the ... cases in families with school-aged children since the holiday season. , “It happens ... with their families, sharing hugs and taking photos, which is the head-to-head gateway that ...
Breaking Medicine News(10 mins):
(Date:1/21/2017)... , Jan. 20, 2017  Faruqi & Faruqi, LLP, ... Inc. ("KemPharm" or the "Company") (NASDAQ: KMPH ) ... Company and certain officers and directors and underwriters of the ... seek the role of lead plaintiff. The lawsuit ... District Court for Johnson County on ...
(Date:1/20/2017)... , Jan 20, 2017 Research ... Stability Testing Market Trends, Opportunities, and Future" report to their ... This ... sizing, emerging trends, and technologies, and provides a snapshot of the ... is 2015 and forecasts are provided from 2016 to 2020. The ...
(Date:1/19/2017)... Germany Cataract Surgery Devices ... report, "Germany Cataract Surgery Devices Market Outlook to 2022", ... Devices market. The report provides value, in millions of ... within market segements - Phacoemulsification Equipment and Ophthalmic Viscoelastic ... and distribution shares data for each of these market ...
Breaking Medicine Technology: