For 2016, the Affordable Care Act (ACA) will require Harvard to offer healthcare coverage to a minimum of 95% of its full-time employees who average 30 or more hours of service per week. We have already met the 2015 minimum requirement of 70%. Failure to comply with this minimum may result in a fee of over $30 million from the federal government. A new job aid provides an overview of the impact ACA has on PeopleSoft data and includes guidance on the employee classes that are of the most concern.
You can review the job aid to review the full detail, but the key item to remember is that all hours worked must be accurately reported. This means that:
- Standard Hours, FTE, and Comp Rate Code must accurately reflect the hours an employee works. These fields cannot be adjusted for the employee’s pay.
- When an Additional Pay is processed, hours must be selected as appropriate.
While all employee classes may be affected, the main focus is on the following: special exclusion (B), temporary academic (C), student employees (excluding work/study) (D), graduate students (G), interns (E), and temps (T).