Of time and most common form is called hr a other components of the National Black anthem amendment it charged depending s with adjusting the heath plan the new Health Care Exchange you can ask page about that and the third component of the amendment what was that it allows employees to choose to opt out of some of the revocable Health Care Expenditures before january but it basically if you had money in a Health Care Reimbursement green before january 2014 you may elaborately chos which i see to opt out those are dollars that can revert to the employers can be over 20 years and 60 percent of all Health Care Expenditures for each individual employee has to be irrevocable it is 80 percent for 2016 and one hundred percent for 2017 and beyond so employers cant make the revocable Health Care Issues so thats what the board of supervisors did we took the time to adjust our guidance to get the language in harmony and issued new sections of the administration active guidance ill go over we did
A sheri committee made up of local businesses and some of them are shown i worked closely with the office of Economic Workforce Development Tiffany Garcia who is in our audience today and also spur who is here today and some of the businesses that are placing an actual rule in the recommendations so this is a slide showing some of the businesses weve worked and spoken with and the idea yirnd beyond the geography businesses and how they can create the economy to scale when theyre located near each other with common interests this slide shows a general dime of the overall suppliers to consumers that is nor the middleman the manufacturers and industry people some of the things youre familiar with i think the one that spanks to me is the employment and the diversity especially the fact that a lot of those businesses hire workers that dont have access to Higher Education and those jobs provide a significant career lard and the wages are generally competitive to that level of education i can
It basically if you had money in a Health Care Reimbursement green before january 2014 you may elaborately chos which i see to opt out those are dollars that can revert to the employers can be over 20 years and 60 percent of all Health Care Expenditures for each individual employee has to be irrevocable it is 80 percent for 2016 and one hundred percent for 2017 and beyond so employers cant make the revocable Health Care Issues so thats what the board of supervisors did we took the time to adjust our guidance to get the language in harmony and issued new sections of the administration active guidance ill go over we did that because we were getting lots of questions from employers and clarifying the language also so, yeah we issued explanations of the new terms irrevocable expenditures and also wanted to provide i didnt want on the security ordinance with the Affordable Health care act so we issued a section on that and finally, we issued updated information on plans for 2014 sort of a y
Questions ems they can spend most of the Small Businesses its going to be difficult not to have those funds back to the employer so just wanted to, if what the other options. Valid health care. Uhhuh. Commissioner toursarkissian. I have a quick question about the opting out if the employee opts out and the employer has to a different option to put it into a savings accounts. The opting out is for hr a triktsdz too january 1st, 2014, if an employee volunteering and knowingly and in writing to opt out of the funds then the employer is relieved of their Health Care Options but need to make the expenditures for 2014. The phase out of 2014 receive cable funds we have 60 percent in eventually and 80 percent 60 percent and 80 percent and one hundred percent from 18 to 17. Uhhuh. There is a 24 month period for the employee to use those funds correct. Correct. Thats correct. Does that assume that the employee is still employed with the same employer or. Yes. Im sorry the 24 month period if the
It basically if you had money in a Health Care Reimbursement green before january 2014 you may elaborately chos which i see to opt out those are dollars that can revert to the employers can be over 20 years and 60 percent of all Health Care Expenditures for each individual employee has to be irrevocable it is 80 percent for 2016 and one hundred percent for 2017 and beyond so employers cant make the revocable Health Care Issues so thats what the board of supervisors did we took the time to adjust our guidance to get the language in harmony and issued new sections of the administration active guidance ill go over we did that because we were getting lots of questions from employers and clarifying the language also so, yeah we issued explanations of the new terms irrevocable expenditures and also wanted to provide i didnt want on the security ordinance with the Affordable Health care act so we issued a section on that and finally, we issued updated information on plans for 2014 sort of a y