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Economic Defaults of the Affordable Care Act

In: People

Submitted By Popo1988
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MEMORANDUM

Date: January 28, 2013

From:

Re: economic Defaults of the affordable Care Act

Choose—and concisely describe the circumstances of—a legal issue in a news item.

Using material from class sessions and readings, describe the legal topic areas connected with the subject.

Provide a foundational understanding of the specific subject area, using additional research as necessary.

Address what is at stake for the client/reader.

Suggest best practices or protective measures to be employed by the client/reader that go beyond simple advice to follow the law.
Introduction
Based on our previous discussions we established your company is composed of 50 or more employees . You requested our recommendation on how the ACA would affect the finances and the overall business operations. The following is the recommendation based on the current information available.
The Patience Protection and Affordable Care Act (ACA or ObamaCare)
Critically important provisions of the ACA will go into effect on January 1, 2014 which fundamentally alters the relationship between the company, its employees, and the government. While the ACA can be interpreted using many legal filters, we will concentrate our findings to the Economic Defaults of the Act and their effects on a company employing over 50 full time employees.

Under the ACA, the federal government’s intent and mandate is for companies (subject under the law) to provide a defined, comprehensive health care package to their full-time employees (employees working 30 + hours a week). Should a company choose not to comply with the mandate, additional taxes, as prescribed in the ACA will be incurred. Companies will need to spend some time structuring their benefit plans to best utilize the company’s resources while maximizing the use of the government…...

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