(SAVANNAH, GA) Nearly 50 area business owners learned the ins and outs of healthcare reform during an April 30 seminar sponsored by Bernard Williams Insurance and Financial Services, SunTrust Bank and Deemer Dana & Froehle.
The seminar, held at the Coastal Georgia Center, featured an introduction by Ralph O. “Rob” Bowden, IV, vice president in charge of the Benefits Division at Bernard Williams, and a keynote address by David Smith, the company’s benefits partner from North Carolina. Smith, a leading expert in benefits and the Affordable Care Act, has extensive experience in healthcare, working with government as a regulator and policy advisor and with industries including Blue Cross and Blue Shield of North Carolina in sales and marketing. Smith, who also has a legal background, has helped employers and insurance agents with compliance issues.
Smith offered business owners the following background information about healthcare reform and tips to help them prepare for the upcoming changes:
· The Affordable Care Act has been implemented and many of the major compliance items will begin in 2014.
· If a business does have more than 50 full-time equivalent employees, it must offer “affordable” coverage to employees who work 30 or more hours per week in order to avoid paying penalties in the form of excise tax. Businesses are not required to offer insurance to employees who work less than 30 hours per week.
· Most businesses with 50 or more employees that offer benefits today won’t have to do much to become compliant; however, most of these businesses don’t know how the changes will affect them.
· There is a lot of confusion over the definition of small employers. For calculation purposes, a small business is one with less than 50 full-time equivalent employees.
· The best way to be prepared is for a business to have its readiness for the Affordable Care Act reviewed. Bernard Williams Insurance and Financial Services can provide that service.
Those who were not able to attend the seminar still have time to prepare for the upcoming changes. Business owners are encouraged to contact Rob Bowden at 912-234-4476 to learn more.
About Bernard Williams Insurance and Financial Services
Founded in 1934 by Bernard F. Williams, Bernard Williams Insurance and Financial Services is a leading provider of insurance-related products and services in Georgia and throughout the Southeast. Today Bernard Williams serves the insurance and risk management needs of more than 4,000 businesses and families utilizing state-of-the-art technology for efficient customer service and accurate information management. Bernard Williams’ primary objective is to establish a partnership between clients, the insurance providers and the agency, providing coverage, loss control services and claim services that are comprehensive, efficient and mutually beneficial. For more information on Bernard Williams Insurance and Financial Services, please call 912-234-4476 or visit www.thepoweroftheshield.com .