When the Patient Protection and Affordable Care Act was passed by Congress in March 2010, many knew that huge changes were coming. As the portions of this legislation are implemented, the impact is being felt not only by the healthcare industry, but also all businesses large and small.
Some changes, such as the 0.9 percent increase in FICA tax withholding and the new limits on Health Flexible Savings Account contributions, affect how employers manage their employees’ paychecks. Other changes, such as the mandate to provide insurance for companies with more than 50 employees, are affecting day-to-day operations. Already, companies have cut their employees’ hours or even laid off workers to comply or plan to adjust the prices of their products or services, passing on the extra costs to their consumers.
Johnny Laurent, a vice president and general manager for Sage Employer Solutions, will host a live discussion about healthcare reform on YouTube tomorrow (May 7) at 11:30 a.m. Eastern. You can watch it by following this link.
Sage, of course, offers Sage HRMS, an industry-leading human resources management system that features integrated HR, benefits and payroll, along with reporting and analysis tools. One of the benefits of using Sage HRMS we discuss with potential customers is that Sage invests tons of time and effort keeping this software updated to stay compliant with current legislation, whether it’s I-9 forms or payroll deductions.
Laurent is the perfect person to lead a discussion like the one he’ll host tomorrow. Not only is he tuned in to healthcare reform in general, but also he is aware of how it affects businesses. This holds true whether your company uses Sage HRMS or not.
So be sure to turn in tomorrow. It’s bound to be an informative discussion.