Health Decisions Webinar: Payroll Vendors and ACA Compliance - Competition or Opportunity for Brokers?
An interesting and unexpected development arising from Affordable Care Act (ACA) compliance is the role played by payroll vendors. ACA compliance uses payroll facts to meet certain compliance requirements. Payroll companies have reacted in various ways to this development. Many now offer ACA support services. Some even seek agent-of-record letters to replace current brokers. Others have taken a “wait-and-see” approach. This webinar explores what the new role for payroll companies means to benefits brokers and consultants. Can payroll vendors support ACA compliance? Do they represent a competitive threat to brokers? What should brokers and consultants be doing to deal with this new reality? For more information, please visit: http://www.healthdecisions.com.
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Health Decisions Webinar: Payroll Vendors and ACA Compliance - Competition or Opportunity for Brokers?
- 1. Payroll Vendors and ACA Compliance: Competition or Opportunity for Brokers? Presenter: Si Nahra April 30, 2015
- 2. Copyright Health Decisions, Inc. 4/2015 2 About Health Decisions, Inc. Pioneering Specialists inPioneering Specialists in Group Health CareGroup Health Care Post-Payment AdministrationPost-Payment Administration For Over 25 YearsFor Over 25 Years RespectRespect for Existing Proceduresfor Existing Procedures EmphasisEmphasis on Customizationon Customization FocusFocus on Solutionson Solutions Customer Philosophy
- 3. Not Typical Webinar • Audience: Brokers – Usually Self-funded Plans • Topic: Rapidly Evolving – Usually Established with History • Role: Asking for Information – Usually Just Sharing Information Copyright Health Decisions, Inc. 4/2015 3
- 4. Copyright Health Decisions, Inc. 4/2015 4 Past Webinars Available http://www.healthdecisions.com/blog Si’s Library
- 5. History My Company’s Experience with Payroll Files and Vendors •1985-1990 Payroll Separate and Unusual •1990-2000 Payroll Reconciliations Offered •2000-2015 Payroll Integral to Our Services •2016 Payroll Essential for Compliance Copyright Health Decisions, Inc. 4/2015 5
- 6. Payroll Vendors: Here’s What I’ve Observed Copyright Health Decisions, Inc. 4/2015 6
- 7. Handling Payroll Competition PAYROLL ONLY = RISK •On Payroll not on Enrollment = ACA Risk (IRS Individual Subsidy Denied) •On Enrollment not on Payroll = Financial Risk (Phantom Employees Costs) PAYROLL + ENROLLMENT = COMPLIANCE •Need both •“It Takes a Team” Copyright Health Decisions, Inc. 4/2015 7
- 8. Need Both Need Payroll For Need Enrollment For 1. ALE 1. MEC/MV 2. Affordability 2. Affordability 3. Classification 3. Cadillac Tax 4. Dates (employment) 4. Dates (effective) 5. Address 5. Dependents 6. Employee SSN 6. Dependents SSN Copyright Health Decisions, Inc. 4/2015 8
- 9. Payroll Opportunity Copyright Health Decisions, Inc. 4/2015 9
- 10. What Have You Seen? • How would you segment payroll sources? • Do you see some payroll vendors as competition? If so, how are you responding? • Are some payroll vendors potential allies? Copyright Health Decisions, Inc. 4/2015 10
- 11. Copyright Health Decisions, Inc. 4/2015 11 For More Information Contact si@healthdecisions.com 734-451-2230 Connect with Us:
Editor's Notes
- We want to pose initial questions to participants at this point: Are you a self-funded plan (choose one) __fiduciary __manager __advisor __administrator What is the approximate number of active employees in the self-funded plan you represent? __under 100 __100-1000 __1000 to 5000 __over 5000 What is the approximate number of retirees in the self-funded plan you represent? __ none __under 100 __100-1000 __1000 to 5000 __over 5000