(RestaurantNews.com) As if you do not have enough on your restaurant’s plate, now you have to deal with the fallout of the Affordable Care Act, aka Obamacare. Affordable for who?
We cannot deal with the hundreds of thousands of pages of documents and regulations. That info is available for your personal read over the next 20 years. Right now you need to get up to speed on what you need to do now. If you will reach 50 or more Full time or “Full Time Equivalent” employees by year’s end you need to do something or you could be fined $2,000 per employee.
As it stands, to be in compliance any business that has 50 employees that average 30 hours or more per week has to offer “affordable health care”. The answer to that seems simple. Hire more part time workers. But that doesn’t work because there are “Full-time Equivalent” employees. Basically you are only allowed so many part timers before they start equating to fulltime employees for ACA calculations. For many restaurants part-timers can make up over have of the staff and are the life blood of the business.
Next are the healthcare plans that have to be offered in order to be complaint. To meet compliance the plans need to cover certain items and be “affordable”. Just say the heck with it? Sure for a cost of $2,000 per employee should you be out of compliance according to the new IRS laws and they are the judge, jury and executioner for that process as well.
Solutions! The good news is that it can be figured out but usually not in-house. You have enough to do managing your restaurant and employees. At Flhip.com we have consulted with companies who have managed this process as it has been unfolding over the past few years and we can offer assistance. Give us a call and we can direct you to various solution providers near you. Our service is Free to you, the restaurant owner.
Drop us a note and ask us for help, Again our service is FREE!