Overtime Penalties Built Into Obamacare

Do you have employees that count on their overtime to make ends meet? One of the provisions going into effect this fall will actually work against those trying to earn more money by working overtime. We’d also be willing to bet that most hourly employees are not even aware of this.

See the article Look out below! Work more, get less in Obamacare ‘cliff’ from CNBC by Dan Mangan.


WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089


Employer Mandate Delay? Not So Fast.

To the relief of many, the Employer Mandate portion of the PPACA has been delayed to 2015.  But this actually creates many new uncertainties and complications.  For example, it implies that employers should still proceed as if the mandate is still in effect in regards to reporting capabilities.   The complete article is linked here from Forbes by John R. Graham.

What changes/adjustments have you made in regards to the delay?  We’d love to hear from you.


WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL 60089


PPACA Third Anniversary

Here’s a few important dates to watch for PPACA exchange related developments…



116% Obamacare Rate Increases or More…

The Wall Street Journal is reporting on insurance carrier rate increase projections coming for 2014.  Potentially, someone with individual insurance could see their policy rise in excess of 116% because of Obamacare according to United Healthcare.  Read the article here:


More Struggles With Obamacare?

The article below says that applying for Obamacare may not be quite as easy as initially communicated. Read more:–finance.html?goback=%2Egde_1950680_member_222467448


WestLake Financial Group, Inc.

1477 Barclay Blvd

Buffalo Grove, IL  60089


Exchanges are Marketplaces

HHS says it ditched ‘exchanges’ because word doesn’t translate into Spanish

The Obama administration has stopped using the term “exchanges” to describe part of the healthcare law because the word doesn’t translate into Spanish, an official said Thursday.

 Read more:

How PPACA cost consideration is reshaping the workforce.

ObamaCare and the ’29ers’

How the new mandates are already reducing full-time employment.

Are You in "Shock Mode" About Your PPACA Costs?

Have you even calculated what those costs will be? An article by Gillian Roberts in Employee Benefit News this last Tuesday says that, “More than half of employers have not calculated their costs under the Patient Protection and Affordable Care Act, but of those that have, 61% say PPACA has increased their expenses.”  Would an increase in cost effect your decision as an employer to “Pay or Play?” We’d love to hear your opinion!

Maximum Out-of-Pocket Rules Under Health Care Reform

Large Group Self-Funded Plans to Comply with Maximum Out-of-Pocket Rules Under Health Care Reform


The Department of Health & Human Services released another 149 pages of guidance concerning the Standards Related to Essential Health Benefits, Actuarial Value, and Accreditation yesterday.  While primarily concerning qualified health plans (QHP) offered through the exchanges for small groups and individuals, the preamble to the guidance also commented on applicability of the out-of-pocket limitation to large group and self-funded health plans.


HHS has clarified that they believe, and will issue future guidance to the effect, that while large group insured and self-insured plans would not have to adhere to the specified deductible limits that apply to the small group and individual coverage plans, they will have to conform to the maximum out-of-pocket requirements.  This provision is found under 1302(C)(1) of the Affordable Care Act.


The out-of-pocket maximum limits are the same ones required of Qualified High Deductible Health Plans (QHDHP) that permit HSA eligibility.  The 2014 limits are not known at this time, but the 2013 out-of-pocket limits for QHDHP’s are $6,250 Self-Only and $12,500 Family coverage.  These amounts are indexed for inflation and are typically announced well in advance of the coming year.


The guidance is found here:


Also in the release, they have issued the Actuarial Value (AV) and Minimum Value (MV) calculators.  The 2014 Employer Mandate requires that plans are affordable and provide Minimum Value, covering at least 60% of the expected benefits provided by a plan.


The calculators are macro embedded Excel spreadsheets designed to accept user input of plan information and spit out the corresponding AV or MV for a given plan.  These are set up to handle two tier benefits plans and not the typical 3 tier programs of a hospital employee benefit program with a domestic tier, PPO tier and out-of-network benefit.  So a more complex plan may yet have to incur the expense of an actuary in order to substantiate the Minimum Value of the plan.  HHS estimates that only 1.6% to 2% of people are covered by plans with a MV of less than 60%.


The calculators are found here:


And lastly, the Department of Labor (DOL) posted FAQ #12 (Here: ) that cover the cost sharing limitation news discussed above and various questions concerning administration of the Preventive Care benefit.


WestLake Financial Group, Inc. will be watching for further developments and will advise accordingly.  If you have any questions, please feel free to contact your WestLake Financial Group, Inc., representative.