Guide to Starting and Operating a Small Business | 2018 Guide to Starting and Operating a Small Business - Page 40

or 866.487.9243; Grand Rapids Area Office, 800 Monroe Avenue, NW, Suite 315, Grand Rapids, MI 49503-1451, Phone: 616.456.2004 or 866.487.9243. Other Employment Regulations Patient Protection and Affordable Care Act While there may be changes in the future to the Patient Protection and Affordable Care Act (Affordable Care Act or ACA), at time of printing this regulation was still in effect, designed to ensure Americans have access to quality, affordable health insurance. • If you have no employees, ACA does not apply to you. • Generally, an employer with fewer than 50 full-time employees or equivalents will be considered a small employer; is not required to provide health insurance coverage for employees. • Employers with 50 or more full-time employees or equivalents will be considered a large employer and have responsibilities concerning how and what health insurance they offer to their full-time employees. More details on the Affordable Care Act (ACA) as it applies to “small” or “large” businesses, and as it may change over time, can be found at www.irs.gov/affordable-care-act/employers In addition, for enrollment information as well as how the Affordable Care Act may affect your business, visit www.HealthCare.gov Workers’ Compensation All states require employers to carry insurance coverage for employee work-related illness and injury. Benefits are usually paid through an insurance company on behalf of an employer though some larger businesses may be approved for self-insurance. There are varying thresholds of applicability for different classes of employees. The insurance premium rates for Workers’ Compensation are competitively determined. Insurers use about 500 different rating classifications based on the type of business an employer operates. Premium rates for a given classification vary widely among insurers; and insurers have different merit and experience rating plans, schedule- rating plans, and premium discount tables, which can affect an employer’s final premium cost so shop carefully. Additional information and assistance is available at the Workers’ Compensation Agency of the Michigan Department of Licensing and Regulatory Affairs at 888.396.5041 or at: www.michigan.gov/wca. Family and Medical Leave Act The Family and Medical Leave Act (FMLA) allows employees with at least a year of service to take up to 12 weeks per year of unpaid, job-protected time off for the birth of a child or adoption of a child or to care for themselves or a sick child, spouse or parent who has a "serious" health condition. The FMLA applies to organ ѥ́ݥѠ)ɔ啕̸ܹؽݡ)UɵM٥́嵕ЁI嵕ЁÍ)QUɵM٥́嵕ЁI嵕ЁÍЀUMIÍЁѼ͍ɥє)Ё啕́ݡٽչѕȁȁɔѼх䁑丁]ɕ͕٥́ɕɸɽѥٔѽ́)ѡԁ啅̰ѡ䁵Ёɕ啐Ѽѡȁ́ȁѼՅ̸ܹؽٕ̽ɽɅ͕̽Ʉ)͕Ʌ}̹Ѵ)%ɅѥIɴ ɽ)Q%ɅѥIɴ ɽЀ%I ́ЁѼɔ䁥̸́)ٕɥ䁥ѥѥݽɭ䁙ȁɕ́䁍ѥ$ɵ̸9єQ́յхѥЁ)Ё͕Ʌєɽͽɕɑٕ́ȁ͕ѕѼ٥Յéͽܹ͍̹ؽ)Q<= Q%8IEU%IA=MQILAѕ́ɔمȁɕɽمɥٕ́ɹЁ̸1ѕ)ѕȁ͕́ɔͼͽ䁍ɍѕɥ͕̀ݡ䁽ȁ䁹ЁЁȁѕȁѥ̤M)ȁЁ5Iեɕ]ɭAѕ́хЁɵѥѼեɔѡ(