Stay prepared for your Wage Parity compliance requirements
As per the requirement of Department of Health Wage Parity Certification, every MMCO, MLTC, CHHAs, LTHHCPs, LHCSAs and FIs, are required to compulsorily submit a certificate of compliance of Wage Parity Hours and Expenses by June 1, 2022 and every year by June 1 thereafter.
We at Braj Aggarwal, CPA P.C, with our experienced and knowledgeable team of professionals make sure that the audit is performed smoothly and complies with all the ethical and legal requirements of Department of Labor, Department of Health and make sure that the audit is conducted in accordance with accounting principles generally accepted in the United States of America (“US GAAP”).
The major section governing Wage Parity Audit is PHL 3614-c and it defines what are the requirements for Wage Parity Hours and Expenses, how the reporting needs to be done, what are the compliance requirements and what certificates need to be submitted and to whom.
The entities that are registered in Medicaid and are providing Medicaid-reimbursed Services, are required to submit the following certificates: LS 300 (Employer’s Annual Compliance of Wage Parity Hours and Expenses) and LS 301 (Independent Auditor’s Statement Verifying Wage Parity Hours and Expenses).