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.
Employers
Question of the Week - Small Employer Health Coverage
Q.- We are a small employer with 22 employees. We offered our employees a health insurance plan last year but it is costly for us and we don’t want to offer it next year. Is that
Q.- We are a small employer with 22 employees. We offered our employees a health insurance plan last year but it is costly for us and we don’t want to offer it next year. Is that OK?
A.- Employers with fewer than 50 full-time / full-time equivalent employees are not required to offer health coverage under federal law. There may be state laws that require you to provide health coverage to your employees. You should also consider the optics of discontinuing health insurance. There are some small employer health coverage options such as SHOP plans and HRAs that you may wish to consider.
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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