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May 12, 2017 at 12:30 PM
Arthur Tacchino wants to remind everyone that, as of today, the Affordable Care Act employer coverage reporting rules are still in effect.
U.S. employers with 50 or more full-time employees, or the equivalent, are still paying payroll companies, benefit plan administrators, accounting firms and other advisors to help them track hours, track coverage and send out Form 1095-B and Form 1095-C ACA coverage reporting forms.
Employers are also seeking help with understanding the ACA employer shared responsibility coverage offer requirements, and preparing for the possibility that the government might send them penalty bills.
The ACA shared responsibility and information requirements have already kicked in, and, so far, nothing has changed them, Tacchino said in an email interview.
“So, that will continue to be the law until the American Health Care Act or some other legislation winds its way through a complicated legislative process and becomes the new law of the land,” Tacchino said.
(Related: Cigna Wins Judge’s Approval to Walk Away From Anthem Merger)
Tacchino is the chief innovation officer at SyncStream Solutions, a Baton Rouge, Louisiana-based benefits compliance firm.
ACA Reporting
For 2016, all employers with 50 full-time employees, or full-time equivalents, were supposed to file coverage reports with the Internal Revenue Service by March 31.
(Photo: Thinkstock)
Most employers with 50 or more full-time employees were supposed to offer full-time employees affordable major medical coverage, or else face the possibility of having to pay penalties if some employees end up qualifying for ACA exchange plan premium subsidies.
