There are so many things to consider for both employees and employers when it comes to the Affordable Care Act. Many companies are wondering if they are going to be able to afford offering the health benefits they are required to or if it better to pay the penalty. Companies are taking a look at the fine print and looking for ways to be in compliance with the law at the lowest cost to them. Employees should also review their choices and see if it is better for them to participate in their employer provided health care of purchase a plan from the exchange.
Under the Affordable Care Act, employers only have to provide health insurance to some of their employees, said lawyer Charles Wachsstock in a webcast sponsored by the Practising Law Institute on Thursday.
Many employers may think that they will have to offer insurance to all of their employees or face penalties under the new healthcare law, but that’s not the case, according to Wachsstock, who discussed the issue in a continuing legal education seminar, “Health Care Reform: An Employer’s Essential Guide.”
During the online talk, Wachsstock, an employee benefits lawyer at Debevoise & Plimpton, presented some innovative approaches that employers and their legal advisors are considering for complying with healthcare reform and controlling costs. . . Continue Reading
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