Delays announced for mid and larger sized companies
The Treasury Department announced on Monday February 10, 2014, employers with 50 to 99 workers will be given until 2016 — two years longer than originally envisioned under the Affordable Care Act — before they must offer health insurance to almost all their full-time workers without risk of a federal penalty for not complying. Additionally, companies with 100 workers or more are receiving a one-year grace period with differing mandates. Instead of being required in 2015 to offer coverage to 95 percent of full-time workers, these bigger employers can avoid a fine by offering insurance to 70 percent of them next year.
Delay benefits restaurants as accurate timekeeping systems needed
The National Restaurant Association, whose nearly 500,000 members were concerned because many industry employees work odd schedules and do not receive benefits, lauded the phase-in. “It’s welcome news, as is anything that helps employers figure this out and gives them time to comply,” said the group’s director of labor and workforce policy, Michelle Neblett, who noted that many members do not yet have systems in place to keep track of worker hours.
PayVision Online provides timekeeping systems
Restaurant payroll and timekeeping systems are part of the payroll services provided by PayVision Online. According to President, Cliff Meggers, “TimeVision is a superlative tool for the restaurant industry. This on-line application accurately processes and calculates all time and attendance data, applying grace periods, complex business rules, rates, and policies. Accrual and benefit values are automatically incremented for both salaried and hourly personnel. This automation can save up to 80% of the time required for manual payroll preparation.”
While the Federal government continues to modify the specifications of the Affordable Care Act, PayVision Online will monitor and provide updates. Our payroll specialists are available at 214-442-5888 to answer your questions. To see a demonstration of TimeVision or any of our payroll services, give us a call or contact us here.