As a construction manager, are you ready for the new healthcare law?
Legal LawAre you ready to bring affordable health care benefits to all of your full-time employees? Construction companies with 50 or more full-time employees can avoid the stress of providing health benefits to skilled workers by recruiting from profitable labor agencies.
Some contractors may choose to avoid all the complex work involved in providing health care benefits to their full-time employees and instead pay the penalty, believing this may be a less expensive alternative. However, this decision is likely to put real pressure on your bottom line and could negatively affect your profit margin.
Another way that owners and contractors are combating the rising cost of health care benefits is to reduce part of their workforce from full-time to part-time. This strategy can also backfire, as part-time workers may be less dedicated to their work and the quality of construction suffers.
Benefits of hiring an employment agency:
Stress-free solutions for new requirements. Many construction staffing agencies offer benefits to their skilled workers and are already well prepared for the new 2014 legislation.
Keep your full-time employees under 50 and rely on skilled part-time labor from an employment agency.
Construction staff is simple. Many employment agencies are committed to providing the best skilled labor in the construction market, ensuring that all your staffing needs are met quickly.
How will my business be affected?
The law requires everyone in the United States to obtain health insurance, either individually or through an employer. If you don’t, you’ll have to pay a penalty equal to the cost of getting health insurance.
Businesses with 50 or more full-time employees must provide health care coverage to each employee or pay a penalty of $2,000-$3,000 per employee.
No one will be denied health care coverage because of a pre-existing condition.
The policy’s annual coverage limits will be eradicated.
Lifetime policy limits will be eradicated.
What is considered a full-time employee?
The Affordable Care Act defines a full-time employee as someone who works an average of only 30 hours per week, not 40 hours. 30 hours a week used to be considered part-time for most, but under this section of the law, companies must provide health insurance if they employ 50 or more employees who work an average of 30 hours a week. If a contractor does not offer health care benefits to full-time employees, they will incur penalties, and these penalties are expected to increase over time as the impact of this mandate reaches the federal budget. With fines of approximately $2,000-$3,000 per worker, it is important for contractors to identify which employees work full time.
Contractors can avoid the hassle of tracking employee hours by working with a labor agency. Choose an agency that provides a convenient solution to all new health care demands. Temporary construction crews add just the right amount of skilled labor to your workforce, saving you time and allowing you to focus on your goals and deadlines, which in turn saves money on your bottom line.