GNYADA March 2014 Newsletter

19 Affordable Care Act Update

Participants will learn about: NYSERDA’s energy efficiency program offerings Qualifying measures such as light- ing upgrades, VFDs, motor upgrades, economizers, HVAC upgrades, chiller replacements, boiler/furnace upgrades and energy management systems How NYSERDA incentives can benefit auto dealership owners You can register for this webinar at https://gnyada.clickwebinar.com/Ener gy_Efficient_Upgrades/register Insurance Exchanges. Model Notices are available for employ- ers who offer health insurance and for those that do not at: www.dol.gov/ebsa/pdf/tr11-03r.pdf. Initial COBRA Notice – informs employees about the option of tak- ing COBRA through their employ- er or the Health Insurance Exchange. During the remainder of 2014, employers may not reduce their workforce or the number of hours worked to avoid the status of becom- ing a larger employer (100 or more full-time employees) unless there is a bona fide business reason for such reductions. Michael Conway, Executive Director of the GNYADA Insurance Brokerage is available to help mem- bers’ meet health insurance compli- ance requirements. Michael can be reached at mconway@gnyada.com or 718.746.8100. n n n n

The White House has delayed enforcement of another piece of the Affordable Care Act (ACA). Mid- sized companies (50 to 99 employ- ees) will not be subject to the “pay or play” mandate until 2016. Businesses with less than 50 full-time employees are not subject to pay or play penalties. Further, large employers (more than 99 employees) must offer qualifying health insurance to 70% of full-time workers in 2015, instead of the origi- nal requirement of 95% of the full- time staff. This is a transitional measure. In 2015, if an employer offers coverage to full-time employees that is neither affordable nor meets the minimum value requirements, the business will be subjected to a penal- ty. Penalties assessed for failure to meet the mandates of the ACA are not tax deductible.

as a subcontractor to DDC vendor Willdan Energy Solutions, is assisting with outreach efforts to educate cus- tomers about NYSERDA’s energy efficiency incentive programs. ERS provides program guidance and administrative support at no cost to ensure a positive program experience from application to incentive payment. Energy Upgrades Webinar GNYADA will host a webinar on April 15 at 11:00am to explain how dealers can save money with energy efficient upgrades to their facilities. What can your dealership do today to comply with the ACA: Determine whether you are a large (100 or more full-time employ- ees), medium (50 -99 employees) or small (fewer than 50 employ- ees) company. Determine whether health cover- age is offered to at least 70% of your full-time employees. Assess the affordability of your lowest-cost single health. Calculate the minimum value of your plan. Now Required: Dealers must provide the following documents to employees: Summary of Benefits and Coverage – ensures that benefits and coverage information is pre- sented in easy to understand lan- guage and can be used to compare to other plans. Model Notices – provide to each employee regardless of status. The notice provides information on the n n n n n n

Funding is Available for Energy Efficient Upgrades

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Dealers can now get funding from the New York State Energy Research and Development Authority (NYSERDA) to help offset the capital cost of ener- gy efficiency upgrades to dealerships. This means that dealers can receive incentives for installing approved energy-saving technologies. NYSERDA has a Buildings Outreach team that can discuss energy and business priorities and provide assis- tance in understanding and applying for funding opportunities. Energy & Resource Solutions (ERS),

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

The Newsletter • March 2014

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