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March 27, 2014

IECRM Seminar Helps Employers Prepare for Affordable Care Act Requirements

Affordable Care Act Seminar

DENVER, Colorado — March 27, 2014 — IECRM, the leading trade association for Rocky Mountain electrical contractors, hosted a free seminar, Basics, Strategies, and Tactics for Healthcare Reform and PPACA, in Denver on March 18th. The seminar was offered to help businesses understand and prepare for the new employer requirements within the Affordable Care Act, and how to plan and implement safeguards to avoid penalty taxes. The seminar was presented by Jim Smallwood, President of Employee Benefits at Moody Insurance Agency, Inc.

Beginning in 2016, employers that have between 50 and 99 employees who work more than 30 hours a week must comply with the employer coverage requirements, or risk being hit with a penalty tax the following year.

This bracket can be complicated for electrical contractors, staffing firms, and other companies that may have a fluctuating payroll of employees who work a varied number of hours each week.

According to new guidelines introduced by the IRS, each “Variable Hour Employee” must be tracked by the employer upon hire. At the end of the tracking period, the employee will be classified as either part-time or full-time. If full-time, the employer is required to provide affordable and adequate health care coverage for that employee, or risk being hit with a penalty tax the following year.

Smallwood explained that the IRS tracking system can be “wildly complicated” for a company with many Variable Hour Employees. Thankfully, several payroll providers have integrated the tracking system within their software in order to take the burden off of the business owner.

Companies in attendance at the seminar included Blueprint Skilled Services, LLC, a construction staffing firm, New York Life, an insurance firm based in Longmont, and Bret’s Electric, LLC, an electrical contractor based in Frederick.

To sign up for future free seminars at IECRM, please visit www.iecrm.org/events. For more information about IECRM, please visit www.iecrm.org or call (303) 853-4886.

IECRM Self-Pay Tuition Policy

 

Self-pay students who are employed with a member company must register and pay through the member company using the IECRM Flashpoint Enrollment Portal/Process in order to qualify for member rates.

Self-pay students that are employed with a member company but that do not register and pay through the member will be charged the non-member rate for tuition, books and applicable fees.


Self-pay students who are employed with a member company and require a payment plan will not qualify for the member rate and will be charged the non-member rate for tuition, books and applicable fees.


Self-pay students who do not work for a member company will continue to be charged the non-member rate for tuition, books and applicable fees.


To maximize association/membership benefits, ALL member companies are encouraged to register and pay for all enrolled apprentices utilizing internal payment arrangements and processes between employer and employee.


We value our IECRM members and apprentice community. We encourage all apprentices to be enrolled in the four-year apprenticeship program, earning, and learning their way toward Journeyworker licensure. We encourage all members to utilize the member discount for tuition, books and applicable fees to ensure the long-term support and success of the next-generation electrician.


(Payment Plans are available, please reference the Self Pay Payment Plan Policy.)


Self-Pay Payment Plan Policy


We offer the following arrangements for students that are unable to pay in full at the time of registration.


● Self-pay students will be charged the non-member rate.
● A 50% down payment of total semester tuition, books and applicable fees are due at registration.
● Remaining balance can be divided up to 3 additional monthly payments ($10.00 processing fee applies on each installment)
● All payments that are declined will incur a $20.00 NSF fee.

 

We encourage all students who are employed with a member company to work with their employer to register and pay through the IECRM Flashpoint Enrollment Portal/Process. This will ensure the student is paying the lowest possible rate for tuition, books and applicable fees.