TEAMONE’S TAKE: TOP THREE THINGS TRUCKING BUSINESS OWNERS NEED TO KNOW ABOUT THE AFFORDABLE CARE ACT
(As seen on BizJournals.com)
The Affordable Care Act (ACA), most commonly referred to as “Obamacare,” is a law that requires all individuals to be covered for health insurance. What does this law mean for your trucking business? TeamOne Logistics shares the top 3 things trucking business owners need to know about the Affordable Care Act:
1. Employee coverage: Which employees are eligible for health insurance under your company? There are different categories of eligibility depending on each employee’s income and the amount of people living in his/her household. Employees may also receive credits or discounts if they meet the requirements.
2. How to enroll: Employers and employees may enroll through the federally run portal at healthcare.gov. Through this platform, you will be able to review ACA insurance plans, receive news and updates, read FAQs and blog posts, and contact customer service representatives.
3. Taxes and fees: For businesses that employ more than 100 employees, your company is required to provide health insurance for full-timers. If you do not comply, you could be fined up to $3,000 per uninsured full-time employee. For businesses that employfewer than 50 employees, you can fall under the group health plan called Small Business Health Options Program (SHOP). For businesses that employ fewer than 25 employees, you may be eligible for a tax credit or refund.
Founded in 2003 and based in Alpharetta, Georgia, TeamOne Logistics designs and manages integrated workforce solutions that minimize the liability, cost, and complexity of your logistics enabled business.TeamOne Logistics utilizes the elements of trust, focus, and expertise to deliver consistent results which enable them to be the chosen logistic workforce partner for various different businesses.
- Posted by admin
- On December 29, 2015
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