ACA Reporting
ACA Compliance Lessons Learned From Recent Reporting Seasons
Common themes emerge when reflecting on recent ACA reporting seasons that can help employers reduce administrative burdens and improve accuracy.
COBRA
Question of the Week - Small Employer for COBRA
Q.- We just hired 4 employees this week and now we have 23 employees. Before this week we never had more than 19 employees. One employee also quit. Do we have to offer that
Q.- We just hired 4 employees this week and now we have 23 employees. Before this week we never had more than 19 employees. One employee also quit. Do we have to offer that individual COBRA?
A.- No. COBRA generally requires that group health plans sponsored by employers with 20 or more employees in the prior year offer COBRA continuation coverage when coverage under the group health plan would otherwise end. Going over the 20 employee threshold does not create an immediate COBRA obligation. You will have to look to the number of employees in the prior year. If you continue to employ 20 or more employees, you may have a COBRA obligation next year.
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.
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