No one likes to play catch-up! Are you scrambling to ensure your business stays away from fines and tax penalties? Let’s get into the details of the December 27, 2020, Covid-19 relief bill. If you employ less than 300 employees in your business, you’ll need to know the minute details to ensure compliance with the consolidated appropriations act. Or at least trust experts who know how to ensure you are compliant! What is the Consolidated Appropriations Act? What does it have to do with you? And is there a solution to ease the onus, the obligation on your business?
Relief through Transparency
There are a few key things to be aware of as a self-insured employer concerning the Consolidated Appropriations Act. Here are a few things to know about what this act means for you:
- Employers now have access to claims data and are entitled to pertinent details regarding costs and provider id’s
- You are responsible for public posts regarding transparency in plan negotiations and Gag Clauses via contracts
- Lack of compliance regarding the Consolidated Appropriations Act can result in liability and increased tax burdens.
- Insurance plan sponsors must report specific findings to the appropriate agencies.
Current bills (like the Consolidated Appropriations Act) and legalities can add pressure to the shoulders of the savviest and prepared business mind. While these new requirements can be helpful for employers and employees, the amount of added time and effort to ensure compliance can seem overwhelming. Still, with AXIM’s help, any foreseen negative can be a positive! AXIM Fringe Solutions Group is the compliance expert to guide you toward a manageable solution.
Going Public with Pertinent Information
The Consolidated Appropriations Act requires plan sponsors to improve and increase usable information to potential plan enrollees via a public platform. AXIM understands that employers and employees want the ability to choose what quality health plans are available to them, so transparency is necessary to any project for improving those involved in any business.
You can play a pivotal role in achieving your peace of mind when you decide what you require based on the facts presented. The Consolidated Appropriations Act entails strict adherence to transparency that can benefit all when you have the ideal informed team of compliance experts on call for you! There are past due dates for compliancy via the Consolidated Appropriations Act, have you made the deadline?
Your Well-versed Reporter on All Things Consolidated Appropriations Act
How do you combat the negative press that may be present when you fail to meet the standards required by the current Covid-19 relief bill? You hire experts who understand what is needed to spin the seemingly impossible task of complying with all the Consolidated Appropriations Act requirements–positively! And do so in a way that genuinely benefits your needs and aspirations. Once your business can achieve Consolidated Appropriations Act compliance, you’ll gain a sense of relief, knowing that you’ve avoided many other problems that may arise in terms of liability. With a tag team of well-informed reporters, you’ll receive first-hand knowledge that surfaces when you need a reliable source for your business to thrive!
Transparency goes both ways! With Consolidated Appropriations Act compliance, you and your employees can reap the benefits of low-cost insurance opportunities. Can you find a team of experts to get you the best insurance plans available and take the burden of compliance into their own capable hands? Yes, you can! You and your employees will see the benefits that AXIM Fringe Solutions Group can bring. The ins and outs of government bills, current regulations, and transparency obligations managed by a team of qualified individuals will do their best to ensure your business continues to thrive and find relief from the arduous task of continued Consolidated Appropriations Act compliance. AXIM’s own business model is all about transparency!
Agencies that Need Your Stats
AXIM Fringe Solutions Group can help you manage what agency receives the information the Consolidated Appropriations Act requires. If you are a plan sponsor, your responsibility includes reporting to the following:
- Department of Health and Human Services
- Department of Labor
- Department of the Treasury
AXIM Fringe Solutions Group is a quality monitoring/reporting, management, compliance-affirming, and delegating solution to enable you to keep your focus on your business and avoid financial loss. If you choose AXIM to provide workable health plans for those you have in contract, what relief can you have, knowing that AXIM guarantees you to stay compliant? You don’t need the extra burden of ensuring compliance with the Consolidated Appropriations Act! AXIM can help you benefit from the transparency required by the Consolidated Appropriations Act while improving relations and job acquisition for your business to employ skilled workers who appreciate choice and a straightforward approach.
Working With the Consolidated Appropriations Act to Stay Competitive
If you are struggling to meet and adhere to the Consolidated Appropriations Act because you need more time or the staff to address the compliance requirements, don’t panic! You can have peace of mind again! AXIM Fringe Solutions Group has the knowledge, team, and time to produce the desired results. And can help you appreciate the importance of transparency! Your present and future employees will feel confident that their employer understands their health needs when they have access to the information, they need to improve their quality of life and your employee retention! It’s incredible what trusting the right people can do for your business! Contact AXIM Fringe Solutions Group today and learn more about how they can make the Consolidated Appropriations Act work for you and bring relief to your bottom line!