January 1, 2015 is quickly approaching and so is the need to ensure that you are prepared for and compliant with the Affordable Care Act (aka ObamaCare). Employers with 100 or more FTEs in 2015 (according to the terms set forth for calculating full time status under ACA)...please take note.
When referring to the application of shared responsibility rules and related tax penalties, employees working an average of 30 hours per week will typically be considered a full-time employee for healthcare coverage.
There are exceptions to the FTE calculations as well as events that may be exempt from the calculations (i.e., seasonal employees, students on bona fide workshare programs, etc.).
Keep in mind that determining your FTE workforce is only a small part of the process...be sure that you fully understand measurement periods, reporting requirements, employee notice requirements, waiting period requirements, and other critical areas that will impact your compliance.
If you need assistance determining whether or not your business meets the 100 FTE threshold for 2015 or have questions about other areas of ACA compliance, call BPSC Group today and we will assist you with navigating this process.