Halloween is just around the corner, and some elements of the Affordable Care Act (ACA) are giving employers a real fright. Here are just a few.

Can anyone hear me?  Generating Form 1095-B or Form 1095-C is only half the issue. You also have to transmit Form 1094-B or 1094-C respectively by January 31st. Employers (even those that don’t offer health coverage) that do not follow the new reporting process may be subject to penalties. Click here for the IRS guidelines and the very specific data formatting transmission requirements.

I’m too small. Guess again. Employers with under 50 employees still have reporting requirements under the ACA. Your health broker can’t always help, so check with your HCM to make sure that you aren’t going to be hit with a big penalty.  

Your breakroom notices can break you. You need to alert all employees that state and federal health exchanges are available to provide health insurance. But putting a notice in the breakroom isn’t enough to make you ACA compliant. You need to document that you have given all employees specific information about how to apply.

Plan 9 from Outer Space! Do the plans you’re offering meet the latest standards on preventive care costs, cost limits, etc? Does your plan meet the minimal essential coverage requirements?

Fear the new guy.  Eligibility for new employees can be a slippery slope if a part-timer has moved into full-time status and you’re close to missing the 90-day deadline to either give notice of the exchanges or offer benefits.

I’ve stitched together a bunch of part-timers and created a monster! Attempting to circumvent the 50-employee threshold by hiring part-timers will create its own type of horror show. The ACA looks at full time equivalent employees. Check with Payday HCM to see if you’re close to unleashing this monster.

Payday HCM is dedicated to saving you from ACA compliance nightmares. If you have any questions, call us at 888-2PAYDAY or contact us via http://paydayhcm.com/contact-us.

Kristin Munson

Kristin Munson

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