Thursday, November 12, 2015

The 3 biggest ACA requirements you still have to worry about

by Christian Schappel




Congratulations … you’ve survived the vast majority of the Affordable Care Act’s (ACA) requirements. But your compliance headaches aren’t over yet. What Obamacare regulations are still slated to kick in? 

No. 1: Reporting requirements

When: Feb. 29, 2016 (March 31 if filing electronically). The deadline for future year’s returns will be Feb. 28.

What: This is what’s taking up the majority of employers’ attention right now. The ACA’s reporting requirements kick in for the first time in 2016. These are the requirements that make the government’s enforcement of the employer mandate possible.

The information that must be reported will allow the IRS to determine whether “large employers” are meeting the ACA’s requirements to offer full-time workers with adequate, company-sponsored health insurance — and, thus, whether those employers should be hit with shared responsibility penalties.

The requirements are complicated (here’s our plain-English breakdown), and employers haven’t had a lot of time to mull them over, so it’s understandable that they’ve taken companies’ attention away from what else is coming down the road.


But it’s crucial that employers remember there are two more key ACA provisions still to come.

Click here for entire article. 

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