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Health Care Security Ordinance. If you have a San Francisco based company with at least 20 employees you are likely very familiar with the Health Care Security Ordinance (HCSO). This law requires employers to pay a fee to the City for all hours worked by all employees. Have you ever wondered if any employees are using this “coverage” that your hard earned dollars are funding? Considering HealthySF is NOT health insurance and there is absolutely no reporting available from the City to promote usage, it can be assumed that your dollars are going significantly/completely unused.
Why are there Laws Centered Around Workplace Sexual Harassment?
Many individuals are having to pay back Subsidies received through Covered California because they underestimated their household income! Here is more info about subsidies when you are already covered through your employer so you can better prepare:
The Associated Press reports that complying with the ACA’s reporting requirements “is costing small businesses thousands of dollars that they didn’t have to spend before the new regulations went into effect” (3/19, Rosenberg). The AP notes the health law requires small business owners to track workers’ houses, absences, and how much they spend on health insurance. On average, “complying with the law costs small businesses more than $15,000 a year, according to a survey released a year ago by the National Small Business Association.” Many small business also lack the human resources departments or computer systems that large companies have, “making it harder to handle the paperwork.”
Many individuals have been asking lately if group or individual insurance is better. Typically group is better because of the enhanced doctor networks and reduced cost. Group insurance is tax deductible/tax free, while all individual plans are paid with post tax dollars. If you go with the individual insurance plan option watch our included video on how you can save money on your health care costs.
Not every company has a qualified HR department or person that can answer your employee’s questions accurately and quickly. Sure you can hire a lawyer, but do you have the time and money? If the answer is no, then take a look at EVCO HR.
What is an HSA?
A Health Savings Account (HSA) is a special savings account that you can only use for your medical needs. It's tax-advantaged and deposits made are free from federal income tax. The employee, employer or both can make contributions into this account. In order to qualify to open an HSA, you must be enrolled in a qualifying High Deductible Health Plan (HDHP).
Open Enrollment can be a confusing time for employers and employees alike. This is especially true for those companies that use a more manual process when evaluating plans and enrolling employees. Hence, you might currently be frustrated by: