ACA implementation in Massachusetts will result in the easing of some current regulatory requirements for our employers
- Small employers will no longer be subject to an assessment and filing requirements focused on whether or not they offer coverage to their employees (there is no federal “employer responsibility” assessment for employers with 50 or fewer employees, and the Commonwealth’s Fair Share assessment has been eliminated)
- Employers will be required to submit an Employer Health Insurance Responsibility Disclosure (HIRD) form only once a year (some currently submit quarterly). In addition the state has relieved businesses from responsibility for collecting Employee HIRD forms from their workers
- All employers will see a reduction in their current Unemployment Health Insurance contribution
- The ACA allows coverage with higher deductibles and out-of-pocket limits than are currently permissible for satisfying Massachusetts’ individual mandate (the Health Connector has conformed its Minimum Creditable Coverage rules to the federal approach).
May 12, 2015 Small Businesses