The Affordable Care Act brought so many changes since in the health industry. This Act led to regulations and reforms in the health care industry. The regulations and reforms stipulated under the Affordable Care Act are instrumental in influencing the relationship between the employers and employees. This Act involves the aspects to track and report on the requirements of the employees in the job place. The health insurance also relates to the shared responsibility tax and the revenue code. The Employer Shared Responsibility Tax involves the amount of hours worked by the employees working on non-fulltime basis. This Act helps the employees in implementing as well as compliance with the complex regulations. The Affordable Care Act is also influenced by the way the employees on fulltime basis are counted and categorized. An employee is considered to be a full time employee when they work for more than 30 hours in one week or more than 130 hours in one month. The ongoing employees who worked for the employer for a standard or measurable length of time but are not considered full time employees.
The employers often use different measurement durations or periods in relation to the various groups of employees. This facilitates setting records for each employee in relation to different lengths and standards of measurement. The employers, therefore, have many ways and alternatives of setting the tracks of employees in relation to the Employer shared Responsibility Tax. The traditional enrollment of the fulltime employees is still an important aspect in relation to the determination of the measurement periods. The aspects of tracking and reporting on fulltime employees is important in ensuring tax regulations and compliance. The government will, therefore, be able to collect the necessary taxes with the help of such records. The Affordable Care Act will also help the clients in avoiding the penalties associated with non-compliance of the taxation regulations and policies in the healthcare industry. The advisors should, therefore, understand fully the importance to track and keep the records of employees. The Act helps to facilitate smooth collection of taxes and avoiding the penalties arising from noncompliance.
The employee benefits are of importance in relation to rewards as well as attracting the employees. The benefits have an impact on the levels of satisfaction of employees. The performance of the employees is, therefore, affected by the nature of the employee benefits offered. The employee benefits have an impact on the taxes and regulations. The legal requirements are important in influencing the nature of employee shared tax responsibility as well as compliance with such tax regulations. The health insurance plans are also important in the sense that they help in providing the tracing and records of the fulltime employees used in the tax collections.
Health insurance services are of the essence in facilitating provision of the relevant records and information. The tracking of the full time employees is possible with the aspects of health insurance schemes and facilities. The records from the health insurance sector help in evaluating the number of fulltime employees who should be subjected to taxes. The health records will help in boosting the levels of compliance in relation to tax policies.
In conclusion, the Affordable Care Act is important in influencing various regulations and reforms pertaining to taxation in the health industry. This Act is important in providing the records and tracking the number of fulltime employees. The number of the fulltime employees is helpful in determining the amounts of taxes and revenues to be collected by the government. The aspects relating to compliance with the reforms and regulations are also covered under this Act.
Amazon.com: Fundamentals of Human Resource Management (9780470910122): David A. DeCenzo, Stephen P. Robbins, Susan L. Verhulst: Books. (n.d.). Retrieved from http://www.amazon.com/Fundamentals-Human-Resource-Management-DeCenzo/dp/0470910127