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Do I Still Need to Comply with The ACA?


Must Employers Still Comply with The ACAMust Employers Still Comply with The ACAEmployers may be confused with all of the bluster and proposals to “repeal and replace” or perhaps “amend” the Affordable Care Act. What parts of this complex law do employers and their employees still need to comply with?

In offering important relief to individuals, the Internal Revenue Service has relaxed enforcement of the individual mandate and did not require taxpayers to report whether they had health insurance coverage on their 2016 tax returns.

However, the IRS has not relaxed enforcement of the employer mandate. This has been confirmed in a release from the Department of Labor. Although the IRS has acknowledged glitches in the ACA reporting system, the IRS has confirmed that an applicable large employer is still subject to an employer shared responsibility payment if it fails to offer coverage to 95% of its full-time employees or has a full-time employee who obtains coverage on the insurance marketplace and receives premium assistance or a tax credit, and the employer’s coverage is not affordable or did not provide minimum value.

Large employers should continue to offer minimum essential coverage to their full-time employees to avoid penalties and to track offers of coverage in order to comply with reporting requirements on IRS Forms 1094 and 1095.

Although the individual mandate has been “non-enforced”, It’s business as usual on the compliance front for employers- especially those subject to the employer mandate and shared-responsibility payments for non-compliance.

In his career, Gregg has developed specialized expertise in “consumer-driven” and high deductible health plans with HSA and HRA strategies, and sold the first HSA plans issued in Virginia through Assurant Health. He is an expert in analyzing plan design data and has served as account executive for national accounts such as Coca-Cola Enterprises and Tenet HealthCare. Gregg utilizes a strategic approach to establish goals based on each client’s unique culture and competitive environment, and measuring results against jointly established criteria. Gregg Kennerly is a Principal at Advanced Benefit Strategies of Virginia, LLC.
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