IRS Continues to Enforce Affordable Care Act
July 25, 2017
The IRS recently released an information letter indicating that the IRS continues to enforce the Affordable Care Act (ACA). Dated June 30, Letter 2017-0010 was sent to a member of Congress who reached out to the IRS at the request of a constituent, a tax-exempt entity concerned it may owe an employer shared responsibility payment […]
Small Businesses Can Now Compensate Employees Who Purchase Their Own Health Insurance
December 19, 2016
Small Businesses Can Now Compensate Employees Who Purchase Their Own Health Insurance New, small employer ACA requirements effective for plans beginning after Dec. 31, 2016 President Barack Obama recently announced a small gift for small businesses as it relates to insurance. Title 18 of the new 21st Century Cures Act, signed by President Obama on […]
3 Ways Your HR Team Can Master Compliance
October 18, 2016
3 Ways Your HR Team Can Master Compliance Complex rules, weighty administrative responsibilities, zero margin for error: When it comes to complying with employment legislation, the burden for U.S. businesses — both large and small — is substantial. Small and medium-sized businesses in particular must manage their resources wisely, and can find it increasingly difficult […]
ACA-Related Costs and Premiums Predicted to Increase in 2017
September 21, 2016
ACA-Related Costs and Premiums Predicted to Increase in 2017 With the 2017 open enrollment for the Affordable Care Act (ACA) or “Obamacare” just around the corner, states are beginning to approve insurer rate requests. Based on the results so far, people who buy health insurance on their own via the marketplace can expect some steep […]
Most Employers Still Unprepared for ACA Forms Mandate
February 2, 2016
Despite ongoing attempts to challenge the Affordable Care Act (ACA), the U.S. Supreme Court again upheld the law, so the employer mandate still stands and requirements remain.
ACA’s Employer Reporting Requirements Extended
December 29, 2015
If there is one thing that is synonymous with the Affordable Care Act (ACA), it is change.
Low-Wage Employees Fall Through ACA Gap
October 21, 2015
Small businesses may be concerned that adding employees to their health plan will put them under, yet research reveals that their actual costs are far less than anticipated because many empl
Software Shows the Way as Companies Attempt to Navigate ACA Compliance
September 21, 2015
With nearly 11,000 pages of rules and regulations — and 47 significant changes since its inception — the Affordable Care Act (ACA) is one of the most complex, compliance-related burdens businesses ever will face. Add the risk of millions of dollars in fines for noncompliance and it appears that this federal legislation has created more anxiety and confusion than someone trying to navigate through a large metropolitan city with an outdated paper map.
Get Ready, ACA Fines Abruptly Elevated
July 13, 2015
Shortly after the Affordable Care Act’s (ACA) subsidies were upheld by the U.S. Supreme Court, President Barack Obama signed into law a trade bill that, in some cases, more than doubled the fines associated with the Affordable Care Act’s (ACA) employer mandate reporting requirements.
Ready or Not, IRS Finalizes ACA Forms
February 18, 2015
The time has arrived for employers impacted by the eligibility reporting requirements of the Affordable Care Act (ACA), as the IRS officially released the 2014 versions of the final forms and instructions on Feb. 8. Posted were the following forms, which fulfill the reporting requirements under ACA sections 6055 and 6056:
An Outlook on ACA: Are You Ready?
November 17, 2014
If you employ 50 or more full-time or full-time-equivalent employees, you should be ready for the Affordable Care Act’s employer mandate, as we are now T-minus 44 days from the New Year. While you’re planning holiday parties and strategizing for Black Friday, don’t overlook prepping for ACA compliance. Here’s the good news: 92% of Paycom’s ACA webinar attendees feel their company is in compliance with the ACA. That’s a staggering number considering all of the changes and unknowns that still exist with one of the largest changes to health care our country has ever seen. If you aren’t among that 92%, here’s what you should be asking yourself as you head into the New Year.
ACA and Entrepreneurial Independence
July 3, 2014
On the eve of Independence Day, I want to take a moment to look at a unique comparison between our country’s founding fathers and the people who have helped create jobs for you and me: the American entrepreneur. Although separated by time, the two have something in common in the Affordable Care Act (ACA). The federal government’s controversial legislation has our founding principles and entrepreneurial spirit on the proverbial pins and needles.
ACA Reporting Requirements Become Clearer
March 20, 2014
While many portions of the Affordable Care Act (ACA) have been delayed, postponed or a mixture of the two, the IRS recently released two rules for employer reporting requirements.These rules are seen in Section 6055 and 6056 and will be reported via forms 1095-B and 1095-C, respectively. Both employers and insurers may voluntarily report for 2014, but reporting will not be required until 2015.
Outsource COBRA to Avoid the Deadly Bite
January 6, 2014
Following the introduction of the Affordable Care Act (ACA), one question that may linger on employers’ minds is this: “How will this reform affect COBRA?” With the ACA’s health care reform, the business of employee benefits is even more complicated, yet almost all employer groups are required to comply. COBRA – aka the Consolidated Omnibus Budget Reconciliation Act – especially applies to private-sector companies offering group health care to 20 or more employees. If mishandled, COBRA can strike and the repercussions could be detrimental to your business.
Is 30 the New 40?
October 24, 2013
In the scope of basic math, the difference between 30 and 40 isn’t much. The continuing battle over the Affordable Care Act (ACA), however, is anything but basic. Currently at stake in the U.S. House of Representatives is the definition of a full-time employee. Whereas most federal labor laws equate a 40-hour workweek to full-time employment, the ACA definition lowers that to 30.
New ACA Requirements Creeping Up in October
September 11, 2013
As Oct. 1 quickly approaches, you may be feeling haunted by health care reform and the upcoming exchange notification requirements facing ALL employers subject to the Fair Labor Standards Act. Even if you already offer adequate and affordable health coverage to your employees, you too are required to issue exchange notifications to educate your workforce on the new health care marketplace.
Power-Packed Affordable Care Act Resource Guide
August 2, 2013
Because of the complexity of the Affordable Care Act (ACA), the IRS has created a new, simple Publication 5093 to help employers find answers to questions about the new health care law. This one-page publication contains links to websites where employers may find further information on health insurance, tax benefits and responsibilities and small business […]
Paycom Introduces New Affordable Care Act Toolkit for Employers
June 19, 2013
Looming uncertainties with recent health care mandates have left employers across America looking for answers. Paycom, a nationally recognized payroll and human capital management technology company, today announced the launch of an exclusive Affordable Care Act (ACA) Toolkit on paycomonline.com for employers. Packed with ACA information, the website empowers employers who are looking to better understand the impacts of the Affordable Care Act (ACA) provisions, how they can ease their compliance burdens and make strategic business decisions.
ACA Awaits Repeal or Repair
February 20, 2017
ACA Awaits Repeal or Repair After his electoral win in November, President Donald Trump, buoyed by Republican majorities in the House and the Senate, vowed to act quickly to repeal and replace the Affordable Care Act (ACA). Pres. Trump has now been in office for a month, and Republicans have not yet voted to repeal […]
The Top 10 Blog Posts of 2016
December 15, 2016
The Top 10 Blog Posts of 2016 With 2017 just around the corner, now is a good time to celebrate the closing of a perplexing year for businesses across the country with a re-cap of the top 10 most popular blog posts of 2016. Over the last 12 months, employers and HR professionals have been on high-alert […]
IRS Releases Final, Updated 2016 ACA Forms
October 11, 2016
IRS Releases Final, Updated 2016 ACA Forms By now, it’s likely you’re aware that several forms of transition relief from the Affordable Care Act (ACA) that were available in 2015 have expired, and only limited relief continues to apply in 2016. As a result, the Internal Revenue Service has removed references to 2015 transition relief […]
New PBJ Reporting Requirements for Long-Term Care Facilities
April 28, 2016
The latest in Section 6106 of the Affordable Care Act compliance is payroll-based journal (PBJ) reporting, affecting nursing homes and other long-term care facilities.
Yet Another Case Challenging ACA Rejected by Court
January 21, 2016
The latest challenge against the Affordable Care Act (ACA) has been rejected after the U.S. Supreme Court refused to hear a case questioning the source of the law’s origins.
‘Cadillac Tax’ Delayed to 2020
December 23, 2015
Businesses likely to be impacted by the Affordable Care Act’s looming “Cadillac tax” were given temporary relief.
ACA’s Definition of Small Employer for Insurance Groups Left Up to States
October 9, 2015
In what has become a regular occurrence, the Affordable Care Act (ACA) has seen another change, this time in the form of the Protecting Affordable Coverage for Employees (PACE) Act. The most recent bill, signed into law by President Barack Obama, allows states to change the definition of a small business for group insurance purposes, meaning premiums for thousands of employees may not increase as was originally feared.
What You Need to Know about the ACA’s ‘Cadillac Tax’
September 11, 2015
The Cadillac brand is synonymous with American-made luxury and now, thanks to the Affordable Care Act (ACA), it is commonly identified as an excise tax that employers offering high-cost insurance plans are likely to face beginning in 2018.
Affordable Care Act Subsidies Upheld: What You Need to Know
June 26, 2015
Yesterday, in a 6-3 decision, the U.S. Supreme Court upheld the federal subsidies of the Affordable Care Act (ACA) by ruling that the tax credits for health insurance are authorized in the 34 states that have a federal marketplace.
New Year, but Not for ACA’s Non-Calendar-Year Plans
January 8, 2015
Here we are, kicking off 2015 – the official beginning of the Affordable Care Act’s employer mandate. However, some employers have plan years that don’t begin on Jan. 1 and will not take part in the fun just yet.
ACA Employer Mandate Summertime Blues
August 26, 2014
Worried about the Affordable Care Act, especially the reporting requirements for employers? Well you’re not alone as a large number of employers are searching for answers to these very questions. While a number of employers are aware that the Department of the Treasury and Internal Revenue Service (IRS) issued final regulations on the reporting requirements for employers regarding the ACA’s employer mandate, many are still unaware how it will impact their organizations or what they need to report on.
ACA’s Non-Assessment Period and Transitional Relief
May 1, 2014
Released concurrently with Feb. 10’s changes to the employer mandate, the Affordable Care Act’s shared-responsibility regulations offer guidance to employers in two areas: non-assessment periods and transitional relief. The non-assessment portion allows for specific periods of time when employers will not be held accountable for fines levied for failure to offer qualifying health insurance to a full-time employee. Additionally, employers entering their first year as an applicable large employer (ALE) were given details on a transition rule, giving them a specific time frame to comply fully with ACA mandates without being penalized.
Corporate Health Insurance Trends You Need to Know
March 7, 2014
The ever-rising cost of corporate health care is expected to increase by 4.4 percent this year. Couple that rising pressure with hard-fought efforts to maintain compliance with the federal government’s Affordable Care Act, and some employers have chosen to waive benefits, placing more responsibility onto their employees, who pay more both in premiums and out-of-pocket costs.
Steering Through ACA’s ‘Cadillac Tax’
December 17, 2013
Experts say that this trend is endangered by an excise tax, otherwise known informally as the “Cadillac tax,” mandated under the federal government’s Affordable Care Act.
Last Second Help with Marketplace Notification
October 1, 2013
Time is running out! Today is the final day to comply with the federal government’s Patient Protection and Affordable Care Act provision to notify employees of their health care exchange options and information regarding their existing insurance plans, if applicable. With ACA, employers have good reason to be more confused than ever, especially with the Oct. 1 Notice of Marketplace requirement. In a recent survey conducted by Paycom, 72 percent of employers said they “could know more” about ACA requirements, while 18 percent reported knowing nothing about the law.
What’s Next with the Affordable Care Act for the Retail and Restaurant Sectors?
August 19, 2013
The Affordable Care Act has left business owners scratching their heads on how they can manage a successful business while offering affordable coverage or paying substantial fines for non-compliance. Some industries are more vulnerable to health care reform than others, especially the retail and food services sector. The tumultuous task of monitoring employee’s hours, determining a standard measurement period, while also continuing to run a successful business remains a serious concern for those in industries that once relished its unique professional flexibility.
Paycom Announces Free Webinar on the Affordable Care Act
July 17, 2013
Due to complex reporting requirements, the Obama administration delayed implementation of the Affordable Care Act’s (ACA) shared responsibility requirements, which requires employers with 50 or more full-time equivalent employees to provide adequate and affordable health insurance or pay penalties. The suspension gives businesses more time to implement a benefits administration system capable of mitigating ACA compliance exposure. To help employers across the country make sense of the changes in the ACA regulations, Paycom, a provider of human capital management technology, will host a free webinar – Think Your Business is ACA Compliant? – on Thursday, July 25 at 10 a.m. CDT.
ACA Penalties: Insurance Inadequacies Can Cost You
June 7, 2013
Offering employees health insurance is not enough to avoid the penalties associated with the shared responsibility requirements of the Affordable Care Act (ACA). While many large employers already provide what they believe to be a good health plan for employees, the ACA has set the standard for what is considered adequate and affordable coverage as well as the penalties for non-compliance.
6 Compliance Changes to Check in 2017
January 4, 2017
Compliance Deadlines and Issues to Watch in 2017 Employers can expect developments in 2017 related to the Fair Labor Standards Act (FLSA), the Affordable Care Act (ACA), Equal Employment Opportunity Commission (EEOC) requirements and several other workplace regulations concerning compliance. Here’s a closer look. Fair Labor Standards Act On Nov. 22, 2016, Judge Amos […]
Another Extension for the ACA Forms
November 23, 2016
IRS Announces Form Furnishing Deadline Extension Another year brings another extension for the Affordable Care Act (ACA) forms, but this time the continuation only applies to furnishing Form 1095-B and 1095-C to your employees. Internal Revenue Service (IRS) Notice 2016-70, issued Friday, November 18, extended the deadline to furnish ACA forms to employees from January […]
Be on Guard: IRS Warns of New Scam Related to the ACA
October 7, 2016
Be on Guard: IRS Warns of New Scam Related to the ACA The Internal Revenue Service (IRS) says that it has received many complaints, nationwide, of scammers sending fake CP2000 notices for tax year 2015. Criminals are sending taxpayers an email with an attached CP2000 notice, demanding payment for unpaid taxes related to the Affordable […]
Choosing the Right HCM Software Provider Is Essential to ACA Compliance
April 6, 2016
The complex nature of the Affordable Care Act (ACA) is well documented, and for good reason. The criteria for applicable large employers (ALEs) contain a sea of intricacies, which are tough
How ACA Form Extension Affects Employees, Individual Mandate
January 20, 2016
For 2016, certain employers are required to provide employees with the IRS Form 1095-C, “Employer-Provided Health Insurance Offer and Coverage,” in time for employees to file for their taxes
Thousands May Lose Health Insurance Subsidies
October 27, 2015
Did you qualify for health insurance subsidies in 2014? And did you account for them on your tax return? If not, you may be at risk of losing health insurance subsidies come January.
Employees Expected to Bear More Costs with 2018 “Cadillac Tax”
October 1, 2015
Health care premiums are on the rise. In fact, employment-based health insurance premiums rose by 4 percent this year. But the increase in health care costs pales in comparison to the substantial increase in deductibles.
Small Employers, Listen Up: ACA Fine May Impact You
July 21, 2015
Up until this point, small businesses – those with less than 50 full-time or full-time equivalent employees – were not faced with costly fines like their Applicable Large Employer (ALE) counterparts under the Affordable Care Act (ACA). But that’s no longer the case, according to a tax imposed under Internal Revenue Code Section 4980D.
3 ACA Reporting Alternatives Unraveled
April 23, 2015
For many organizations, the employer mandate and the reporting requirements of the Affordable Care Act (ACA) loom. Employers want to ensure they will be in compliance come January 2016, when the required forms are due to their full-time employees and the Internal Revenue Service. Yet many organizations remain confused by the law’s many complexities, especially […]
ACA Loopholes Closing by a ‘Skinny’ Margin
December 15, 2014
Employers already are well aware that the health care landscape is changing – and changing drastically. But now employers who thought they were complying with the Affordable Care Act (ACA) are being told otherwise, as the Obama administration works to close loopholes – and fast.
ACA Small-Business Tax Credit Too Good to be True?
July 28, 2014
The Affordable Care Act (ACA) has already or will drastically impact employers with 50 or more full-time employees; however, the IRS announced it will be expanding incentives – in the form of a tax credit – to small employers who offer insurance through the exchange to its employees.
Capping Hours: Risk Outweighs Reward
April 7, 2014
Employee benefits have become a hot topic in the business realm, especially in regard to the federal government’s Affordable Care Act. Ultimately, it comes down to dollars and cents, and companies are finding that a more affordable route may exist beyond offering traditional health coverage. However, if you are thinking of finding a loophole through lowering employees’ hours, you might want to think twice.
More Changes Announced for ACA’s Employer Mandate
February 11, 2014
Change is coming again for employers subject to the Affordable Care Act’s employer mandate as the Obama administration announced two major modifications on Feb. 10, including: further delaying portions of the mandate for certain employers, and adjusting the percentage of employees who must be covered by employers beginning in 2015.
Hospitality Industry Braces for ACA
November 7, 2013
Although there have been numerous delays with the Affordable Care Act, it is important that business owners continue to plan for its changes – especially within the hospitality industry. This industry can be impacted significantly by the ACA, as much of the workforce is considered part- time, seasonal or temporary.
Wait a Second: Do I or Do I Not Have to Comply?
September 27, 2013
As if the Affordable Care Act couldn’t get any more confusing, the Department of Labor (DOL) has released an FAQ with inconsistent messaging pertaining to the Oct. 1 Notice of Marketplace requirement for employers. Dated Sept. 11, the FAQ implies that if employers do not wish to distribute the notices, they will not be penalized. One would think the same language would be updated accordingly in the DOL’s technical release, right? Wrong!
Affordable Care Act Webinar Back by Popular Demand
August 13, 2013
The Affordable Care Act (ACA) remains a hot topic for businesses nationwide as new resources, mandates and delays are continually announced. Business leaders and HR executives are discovering that even if they provide health care to their employees they will be required to prove their healthcare is both affordable and adequate in order to be ACA compliant.
Affordable Care Act Employer Mandates Delayed to 2015
July 3, 2013
The Department of Treasury announced on July 2, that the enforcement of the Affordable Care Act’s Employer mandate, which requires employers with 50 or more full-time equivalent employees to provide affordable health insurance or pay penalties, will be delayed until Jan. 1, 2015. Full implementation of the ACA was scheduled for the beginning of 2014, but reporting concerns prompted the Obama Administration to suspend reporting for 2014.
Companies with Employer-Sponsored Health Plans Must Still Notify Employees of Exchanges
May 31, 2013
Many U.S. employers offer health insurance coverage to their employees and have been doing so long before the Affordable Care Act (ACA) was signed into law in March of 2010. However, these employers may still be impacted by ACA regulations including the requirement to notify employees of health insurance exchanges regardless of the quality of their own employer-sponsored health plans.