Pay Adjustments That Impact ACA Affordability
Compensation changes that occur throughout the year can affect whether an employer's health coverage continues to satisfy the ACA's affordability requirements
Question of the Week - ACA Transmission: Accepted with Errors
Q.- We transmitted our Forms 1095 to the IRS timely, but our vendor just told us the submission was “Accepted with Errors.” What does that mean?
Q.- We transmitted our Forms 1095 to the IRS timely, but our vendor just told us the submission was “Accepted with Errors.” What does that mean?
A.- Accepted with Errors means the IRS acknowledges that transmission, but the IRS identified some mis-matches in some of the 1095 forms. This could be a last name not matching an IRS record, a problem with a Social Security Number or other administrative discrepancies.
Benefit Allocation Systems (BAS) provides online solutions for: Employee Benefits Enrollment; COBRA; Flexible Spending Accounts (FSAs); Health Reimbursement Accounts (HRAs); Leave of Absence Premium Billing (LOA); Affordable Care Act Record Keeping, Compliance & IRS Reporting (ACA); Group Insurance Premium Billing; Property & Casualty Premium Billing; and Payroll Integration.
MyEnroll360 integrates with major insurance carriers for enrollment eligibility management (e.g., Blue Cross, Blue Shield, Aetna, United Health Care, Kaiser, CIGNA and others), and with leading payroll platforms for enrollment deduction management (e.g., Workday, ADP, Paylocity, PayCor, UKG, and others).
This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.
Newly Married Spouse Reimbursement
A health FSA cannot reimburse an employee for a spouse's expenses paid before the marriage — dependent status is determined when the expense was incurred, not when it's submitted.
Practical Steps Employers Can Take to Reduce ACA Penalties
Most ACA penalties stem from operational issues that occur throughout the year, not just year-end reporting.