As A Construction Manager, Are You Ready For The New Health Care Act?
Are you ready to provide affordable healthcare benefits to all of your full-time employees? Construction companies with 50 or more full-time employees can avoid the stresses involved with offering medical benefits to skilled laborers by hiring staffing from cost-effective labor staffing agencies.
Some contractors, may choose to avoid all the complex work involved in providing health care benefits to their full-time employees and pay the penalty instead, believing this can be a less costly alternative. However, this decision is likely to put real a strain on your bottom line and could negatively affect your profit margin.
Another way owners and contractors are combating the increasing cost of health care benefits, is to cut some of their full-time workforce to part-time status. This strategy can backfire too, as part-time workers can be less dedicated to their work and construction quality suffers.
Benefits of hiring a labor staffing agency:
Stress-free solutions to the new requirements. Many construction staffing agencies offer benefits to their skilled laborers, and are already well-prepared for the new 2014 legislation.
Keep your full-time employees below 50, and rely on part-time skilled labor from a labor staffing agency.
Construction staffing is simple. Many staffing agencies are committed to providing the best skilled labor in the construction market, assuring that all of your staffing needs are met fast.
How will my business be affected?
The law requires everyone in the United States to obtain health insurance, whether it’s individually or through and employer. If you do not, you will be required to pay a penalty that is equal to the cost of obtaining health insurance.
Companies with 50 or more full-time employees must provide health care coverage to each employee or pay a fine of $2000-$3000 per employee.
No one will be denied health care coverage due to a pre-existing condition.
Annual policy limits on coverage will be eradicated.
Lifetime policy limits will be eradicated.
What’s considered a full-time employee?
The Affordable Care Act defines a full-time employee as a person that works an average of only 30 hours per week, and not 40 hours. 30 hours a week used to be considered part-time to most, but under this section of the law, businesses must provide health insurance if it employs 50 or more employees who work an average of 30 hours per week. If a contractor does not offer health care benefits to full-time employees, penalties will incur, and over time, these fines are expected to increase as the impact of this mandate travels to the federal budget. With fines approximately $2,000-$3,000 per worker, it is important for contractors to identify which employees are full-time.
Contractors can avoid the problems involved with keeping track of employee hours by working with a labor staffing agency. Choose an agency that provides a convenient solution to all the new health care demands. Temporary construction staffing adds just the right amount of skilled labor to your workforce, saving you time and allowing you to concentrate on your goals and deadlines, which in turn, saves your money on your bottom line.
