| Issue: # 1 |
October 25, 2007 |
Greetings!
E-mail to keep you abreast of the latest developments in the employee benefit marketplace..
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| Health Insurance Reform
Employer Filing Deadline November 15, 2007 |
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The first annual filing of the Fair Share Contribution Report and Employer HIRD report with DUA began on October 1, 2007. Filing is completed on line, and determines whether the employer is subject to payment. Recently you received a letter from the Division of Unemeployment regarding your group health insurance. This letter gives you instructions to complete ON-LINE filing by November 15, 2007. Click here to to access the form, please note you will need your DUA number to get started.
Only employers with ten or more full-time employees, or part-time equivalents, are required to file. The Commonwealth considers one full-time employee to work 2,200 hours so ten or more full-time employees, or part-time equivalents, would work equate to 22,000 hours. The first question on the form asks for the hours worked between October 1, 2006 through September 30, 2007. Your payroll company should be able to provide this quite easily.
If your answer to the first question is less then 22,000 hours, you will be directed to the end of the questionnaire and not be subject to the new Massachusetts health insurance requirements. On the other hand, if your hours worked is equal to or more then 22,000, all of the questions will need to be answered. Other questions include:
- Number of eligible employees for the employer health insurance plan.
- Number of employees particiapting in employer health insurance plan.
- Employer contribution level.
- Confirmation that you have a Section 125 Plan in place.
Make sure you get this done before November 15, 2007!! |
| Waivers
Employees Signatures on file |
| Most employers have their employees sign a waiver, if they do not want to participate in the employer sponsored group health insurance plan. An employer must have a signature in the employee file to verify they have been offered the plan, but they chose not to participate.
This form is commonly referred to as a "waiver" form. Take a moment to review who is eligible for the group health plan, then cross-reference with your health insurance bill to determine who does not participate. Each of these employees should have a signed waiver. The Commonwealth has an official waiver form, which we have posted on our website, click here.
Not only is this a requirement of the law, but you should have these on file as your employees will begin to incur penalties from the Commonwealth of Massachusetts, if they do not have health insurance. Although the penalty is only $290 this year, these penalties will increase each year. This signed waived may be be needed by the employer to prove health insurance was offered, if an employee maintains otherwise.
Keep in mind that employees, who are not eligible for the group health plan (part-timers), are not required to sign a waiver. |
If you have any questions on this subject or any other subject, send Bill or Vanessa an e-mail and they get right back to you.
Sincerely,
Bill Randell & Vanessa Costa
Advantage Benefits | |
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