Costly penalties (think $2K per worker or more) face businesses failing to comply with new Affordable Care Act regulations

Securing services of insurance professionals can help prevent mistakes, fines for businesses New requirements took effect January 1. End Quote

Newark, NJ (1888PressRelease) March 03, 2016 - Missing the boat on this one could really hurt business owners.

As the rollout of the Affordable Care Act (also referred to as "Obamacare") continues, this past January 1 marked an important date for anyone who owns a business employing more than 51 workers. That's the day such businesses became legally obligated to offer health insurance coverage to employees.

Larger companies, with more than 100 workers, were required by the Affordable Care Act to offer this level of coverage effective January 1, 2015.

"Many Affordable Care Act provisions are complicated -- and there's no doubt they can be confusing to people who operate a business," says Kevin McDonnell, Dale Group's vice president of Benefits and Planning. "That said, the government does not recognize a lack of understanding or an absence of awareness as an excuse. This is exactly why enlisting the services of experts like the Dale Group can help stave off significant financial pain."

Fines for noncompliance vary, based on multiple factors -- but penalties generally begin at $2,000 per employee and escalate from there. And additional, follow-up fines may follow.

The types of businesses that are most likely to be directly impacted by the new requirements include those in sectors like construction and food service. Such businesses typically did not offer health coverage in the past, and their workers tend to be more migratory than those in other fields.

Again, while the regulations are complicated, any employee who works more than 30 hours per week -- including union workers -- must be offered coverage. The law, however, does not apply to seasonal workers.

"There's no doubt that this law presents challenges for business owners," McDonnell adds. "But compliance is absolutely mandatory. It's much more cost effective to hire professionals to help manage the process than to face massive fines at tax time."

About Dale Group
Focused on providing businesses with commercial insurance and surety bonds, along with personal insurance, employee benefits, and financial services, New Jersey-based Dale Group helps client companies secure the future and maximize profits through comprehensive insurance and bonding programs. These are cost-effective, secure, competitively-priced, and backed by top-rated insurance companies.

Dale Group's staff of highly-trained insurance professionals excels at identifying areas of exposure and creating customize coverage. Additional information on Dale Group is available by visiting www.dalegroup.com or by calling 973-377-7000.
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