Affordable Care Act (ACA) Update Currently, the biggest concern of the university in regards to the ACA is the requirement to offer coverage to anyone that works an average of 30 hours per week within the measurement period. Strict tracking will be necessary, which many departments do not currently have in place. Students and adjuncts are currently ineligible for benefits. However, if they work 30 hours per week on average, they will become eligible. Fortunately, the penalties set forth in the ACA have been delayed until 2015. In addition, there is currently a bill in review, which may change the 30 hour per week requirement to 40 hours per week. Human Resources will continue to review the ACA and any applicable changes that may come forth. Director Comments Les agrees with the committee that further education is needed on the Flexible Spending Accounts, as well as the HCA/High Deductible Health Plan. In order for the university and employees to reap the financial benefits of these offerings, there needs to be more understanding of the products. Building an educational package will need to be part of the strategic planning discussions. Other Business Because of the holidays, the December 19th EBC meeting will be cancelled. The next EBC meeting is scheduled for January 16th, 2014. The meeting was adjourned at 2:55 p.m.
Affordable Care Act (ACA) Update Currently, the biggest concern of the university in regards to the ACA is the requirement to offer coverage to anyone that works an average of 30 hours per week within the measurement period. Strict tracking will be necessary, which many departments do not currently have in place. Students and adjuncts are currently ineligible for benefits. However, if they work 30 hours per week on average, they will become eligible. Fortunately, the penalties set forth in the ACA have been delayed until 2015. In addition, there is currently a bill in review, which may change the 30 hour per week requirement to 40 hours per week. Human Resources will continue to review the ACA and any applicable changes that may come forth. Director Comments Les agrees with the committee that further education is needed on the Flexible Spending Accounts, as well as the HCA/High Deductible Health Plan. In order for the university and employees to reap the financial benefits of these offerings, there needs to be more understanding of the products. Building an educational package will need to be part of the strategic planning discussions. Other Business Because of the holidays, the December 19th EBC meeting will be cancelled. The next EBC meeting is scheduled for January 16th, 2014. The meeting was adjourned at 2:55 p.m.