GNYADA February 2016 Newsletter

GNYADA's 2016 TIME Dealer of the Year Nominee Joseph A. Stanco, Rallye Motors

18

receiving the group's Humanitarian Award in 2014. He donates heavily to numerous other charities, including the Boomer Esiason Foundation (fighting cystic fibrosis), Long Island Cruizin' for a Cure (fundraiser for Prostate Cancer testing and research), St. Mary's Hospital for Children and the “Making Strides Against Breast Cancer” walk at Jones Beach. On a personal level, Stanco is espe- cially dedicated to organizations that fund cancer research, having lost two sisters to the disease. He is on the board of Swim Across America (SAA) and actively supports its mis- sion to raise money for cancer organi- zations through swimming events. The TIME Dealer of the Year award will be presented on April 1, at the NADA Convention in Las Vegas, NV.

National Automobile Dealers Association (NADA). Nominees are American new-car dealers who not only excel in their business, but also make important contributions within their community. The Association's 2016 Time Dealer of the Year nominee is Joseph A. Stanco from Rallye Motors (Mercedes-Benz). As President and CEO of Rallye Motors, Stanco also oversees Rallye BMW, Rallye Lexus and Rallye Acura. He shows great commitment to the many communi- ties that his dealerships serve. Since 1995, Stanco has hosted holi- day parties for underprivileged chil- dren, at his Mercedes-Benz dealer- ship in Roslyn. He has also been a board member of the American Red Cross on Long Island since 2013, employees may need to alter the cov- erage they offer, which could poten- tially increase their premiums. Given this, we recommend that deal- erships begin the process of renewing their health insurance programs soon- er rather than later, so they will know whether their premiums are going up. (The requirement to report on the health coverage offered to fulltime employees — and their dependents — is not changing. That mandate still applies to any employer with 50 or more full time employees or fulltime equivalents.)

Joseph A. Stanco, President and CEO, Rallye Motors

The TIME Dealer of the Year award is given out once a year by TIME Magazine, in partnership with Ally Financial and cooperation with the

Affordable Care Act Changes Small-group threshold increases to 100 employees

19

Under the Affordable Care Act, all “small-group” employers must pro- vide healthcare — to eligible employ- ees — with minimum essential cover- age, encompassing ten separate points of medical care. These are also known as the 10 Essential Health Benefits and are listed below, for ref- erence. Previously, New York State business- es that employed 50 or fewer fulltime equivalent employees were consid- ered small-group. However, as of January 1, small-group now applies to companies that employ 100 or fewer fulltime equivalent employees.

Emergency Services Hospitalization Laboratory Services

n

n

n

Maternity and Newborn Care Mental Health and Substance Abuse Disorder Services, including Behavioral Health Treatment Pediatric Services, including Oral and Vision Care 3-Tier Prescription Drugs Preventive and Wellness Services and Chronic Disease Management Rehabilitative and Habilitative Services and Devices If you would like to review your dealer- ship’s current health insurance programs, please contact Michael W. Conway, Executive Director of the GNYADA Insurance Brokerage, at 718.746.8100 or mconway@gnyada.com. n n n n n n

The 10 Essential Health Benefits are:

As a result of this group redefinition, groups with between 51 and 100

Ambulatory Patient Services

n

Greater New York Automobile Dealers Association • www.gnyada.com

The Newsletter • February 2016 11