Our eyes have been watching and waiting to see what would happen with our nation’s healthcare policies. Get updated on what’s current and find out what your company needs to do to stay compliant.
In this blog, we will discuss efforts by Congress to replace the ACA. You will receive the need to know update on the progress of this effort and find out what your business needs to know about the ACA for this calendar year.
On February 20, 2017 the American Health Care Act was set before the House of Representatives and intended to replace the Affordable Care Act of 2014. We’ve seen it in the headlines, and we know that it could intensely affect our current systems for payroll and benefits administration.
Efforts by Congress to repeal or replace any aspects of the Affordable Care Act (2009) have been delayed indefinitely.
According to the APA (American Payroll Administration), it may be a long time before there are any additional efforts to change the ACA (Affordable Care Act). “With the latest setback to the repeal efforts, it may be some time before any new attempts are made to repeal the ACA.” *
The latest updates and history of the American Health Care Act of 2017 can be found on the congress.gov web page.
The Affordable Care Act is the name of the game for the 2017 calendar year. And as fourth quarter is rapidly approaching it is increasingly important for companies to make sure that they are compliant or be faced with penalties or fines.
Adhering to all 974 pages of the ACA can seem daunting, especially when acronyms like ALE, IRS, and FTE are being thrown around.
While the ACA can be admittedly confusing, that doesn’t mean it can’t be simple. That’s why we are here.
Performance HCM has worked hard to make adhering to the ACA as straightforward and as smooth as possible for your company. With our services, you will have access to our expertise and understanding of the ACA. Let us do the heavy lifting, and see how easy the ACA can be.
We have anticipated your needs and questions for ACA compliance and have a web page with all the resources you need. Check out ACA Central , your one stop shop for ACA forms and information.
A huge start to the ACA is knowing whether or not your company needs to comply. The ACA requires ALE’s, Applicable Large Employers to adhere to its standards. An ALE is a company that employs 50 or more full time (or full-time equivalent) employees. Not sure how to determine how many full-time equivalents you have working in your company? Check out this quick sheet that simplifies the process for you!
If you are an ALE you have various forms that need to be filled out of sections of the ACA that you have to stay compliant with. Good news though, Performance HCM can help you. Performance HCM is capable of tracking, reporting, and producing necessary forms for your compliance. If you are doing business with us check out our Reporting Election Form for getting on the fast track to ACA adherence!
Confused about waiting periods for health insurance with you varied types of employees? Find the answers you’re looking for about waiting periods for all types of employees with our ACA Waiting Periods help sheet.
Want to elect to have Performance Payroll complete the ACA reporting requirements, get started here.
Check out ACA Central, your headquarters to all things ACA.
*This quote has been taken directly from the American Payroll Association web page.