The Affordable Care Act (commonly referred to as the ACA or Obamacare) was created to increase the quality and affordability of health insurance for Americans, lower the uninsured rate by expanding public and private insurance coverage, and reduce the costs of healthcare for individuals and the government.
An outcome of this new legislation is that its employer mandate requires large employers to provide affordable, minimum health coverage to full-time equivalent employees or pay a fine. As well, the law’s individual mandate requires individuals to report about their health care coverage.
Watch this video for a review the ACA:
Feeling unsure about the ACA?
Take advantage of our limited-time offer. 67% of employers expect changes, but nothing is certain. No matter what happens with the regulations, ensure you’re compliant with Paycor’s limited-time offer.