Note: If you are unaware of this ordinance or are wondering if this applies to your company, please refer to our previous posts here and here for more information on this topic.
The annual reporting deadline for the San Francisco HCSO is April 30, 2016. While that deadline may seem far off, it is never too early to get prepared.
For Sequoia One clients, you already offer a great benefits package to your employees. This is a great first step. At annual renewal, the Sequoia One team will also review your premium contribution methodology to ensure it satisfies the requirements of the HCSO and will make recommendations if it does not.
As a reminder, you should be evaluating quarterly whether there are any required health care expenditures due to your eligible employees. If there are, a good method to use for setting aside the expenditure is the SF City Option. You should be collecting an Employee Voluntary Waiver Form on a quarterly basis from employees who waive coverage through your group benefits program. If the employee has signed the Employee Voluntary Waiver Form prior to the quarterly deadline, they are waiving their right to the expenditure and you do not need to set the funds aside for them.
The waiver form can be found at the City and County and San Francisco’s Office of the City Administrator’s page.
The Sequoia One team will run a report to identify employees who have waived coverage during this current quarter and connect with you to discuss if any waiver has been collected.
