News - Essential StaffCARE

Avoiding ACA Reporting Pitfalls: How to Stay in Compliance

Reporting of Offers of Health Insurance Coverage by Employers (Forms 1094/1095) is well under way. As such, employers are no doubt scrambling to complete the forms in a timely and accurate way in order to avoid costly IRS penalties.

To help get through the reporting season, the following are a few things to keep in mind as you proceed through the often daunting and confusing reporting process.

Health Networks Pull Out of Plans Leaving Clients Potentially Exposed

Essential StaffCARE has been contacted by several staffing companies reporting they have received unexpected mid-year termination notices from their Voluntary Employee Beneficiary Association (VEBA) Trust/Captive plan. These notices made reference to their networks pulling out of the plans.

The possibility of VEBA Trust/Captive plan promoters putting their clients at risk was predicted by Essential StaffCARE in our October 2015 Industry Alert.

New Study Links ESC Indemnity to Employee Retention

According to the Bureau of Labor Statistics, open positions in the United States reached an all-time high in July of 2017, peaking at 6.17 million available jobs.

Staffing firms are being challenged, more than ever, to find and keep quality candidates to fill open positions.

New research by Essential StaffCARE reveals a key indicator of employee interest, attitude

and longevity is the availability of affordable, useable health benefits. In the most comprehensive study of its kind, an analysis of over a half million temporary employees revealed those enrolled in ESC Indemnity plans stayed with their employer 47% longer (3.6 weeks) on average.

Longer tenure translates into bottom line revenue, satisfied clients and motivated employees.

Download the full report here.