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ACA Roundup: ACA Resources For Employers

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ACA RoundupThe Affordable Care Act has had one of the biggest impacts on this country in almost 100 years. Not only has it changed our nation’s health care policy, but it’s changed the way employers file taxes, execute reporting and payroll, and the changes don’t look like they’re going to slow down. If you haven’t started preparing the the ACA changes you need to start.

As an employer, the ACA compliance regulations may seem confusing. That’s why we’ve done the research and have published “need-to-know” information on our own blog recently. However, to make sure you’re getting all of the necessary information you need to be ACA compliant, we’ve put together this roundup of the most helpful ACA resources for employers.

Prepare Now or Be Sorry Later! The 2016 Affordable Care Act Reporting Requirements

As mentioned, the ACA is going to have an affect on reporting requirements. In early 2016, information reporting provisions under the Patient Protection and Affordable Care Act require many employers to file annual information returns with the IRS. Employers should start preparing to meet those requirements. This article contains all the necessary forms needed for employers will need to move forward with
compliance.

http://www.bakerlaw.com/alerts/prepare-now-or-be-sorry-later-the-2016-affordable-care-act-reporting-requirements

Confused About ACA? Here Are 4 Ways It Might Affect Your Employee Payroll

To follow the previous article, IRS reporting standards will require extensive documentation (some of which is mentioned in the above article). Many businesses are not yet equipped to collect and report that type of data. Businesses may need to replace their ERP (enterprise resource planning) systems to keep up with reporting standards. Check out this article to learn what payroll data the ACA will require in 2016.

https://www.balancepointpayroll.com/confused-about-aca-here-are-4-ways-it-might-affect-your-employee-payroll/

Four Steps Required Prior to ACA E-Filing

ACA provisions for individual shared responsibility and employer shared responsibility that were effective January 1, 2015, the IRS will receive and process information returns reporting on individual health insurance coverage. Those who file more than 250 information returns are required to file electronically.

The AIR (Affordable Care Act Information Returns) is not yet available, but it’s not too early for employers to learn more about they they need to do to e-file. All other e-file systems don’t accept the ACA Information Returns. Employers should read this article to learn more about if they need to file and how they can start preparing before the deadline.

http://blog.ifebp.org/index.php/four-steps-required-prior-to-aca-e-filing

 

2016 Will Be Costly Year for ACA Compliance, Employers Say

One problem with the ACA is that it’s been costly for employers. In a recent survey taken by employers in 2015, reports showed that employers think that 2016 and beyond will hold the most costly expenses for employers. Read this article to learn more about what kinds of costs are associated with the ACA and what employers plan to do keep costs manageable.

http://www.shrm.org/hrdisciplines/benefits/articles/pages/aca-compliance-costly.aspx

Key Steps And Strategies For 2014 And Beyond

The ACA has already gone through numerous changes and updated. Check out this helpful infographic that explains what’s to come in the next 3 years and how employers should start to prepare.

http://www.unum.com/healthcarereform/timeline

Family Plans Must ‘Embed’ Out-of-Pocket Limits In 2016

The ACA limits the annual amount of cost sharing that small group plans and individual plans can impose on an enrollee for essential health benefits. The federal departments overseeing the Affordable Care Act confirmed in May 2015 guidance that, effective for plan years beginning in 2016, nongrandfathered self-funded and large group health plans must apply an embedded self-only out-of-pocket (OOP) maximum to each individual enrolled in family coverage if the plan’s family OOP maximum exceeds the ACA’s OOP limit for self-only coverage.

This is a significant change for employers who have employer sponsored plans. If you’re one of these employers that’s affected by this new change, check out this article to learn more about what the OOP means for you, what concerns are involved and what options you have.

http://www.shrm.org/hrdisciplines/benefits/articles/pages/embedded-oop-limits.aspx

Questions and Answers on Employer Shared Responsibility Provisions Under the Affordable Care Act

If you’re looking for introductory information on the ACA, check this article on the IRS website. It goes over a brief background of the ACA and past laws, what employers need to know now, and what laws are in place for the future.

http://www.irs.gov/Affordable-Care-Act/Employers/Questions-and-Answers-on-Employer-Shared-Responsibility-Provisions-Under-the-Affordable-Care-Act

The Affordable Care Act can be confusing for employers. There aren’t many resources for employers to get the information they need to properly prepare. The articles in this roundup are meant help you get a better understanding of ACA changes and how you can start preparing for compliance. Be sure to check our blog for more ACA news/update related articles.

Are You ACA Compliant? Download Your Free ACA White Paper!

The Affordable Care Act can be confusing. Download your ACA white paper to understand the ACA, make sure your business is compliant, and avoid penalties. 



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