Office Hours: The ACA Employer Mandate & ACA Reporting
Tuesday, November 8, 2022
The ACA employer mandate imposes the most significant potential liabilities that employers face with respect to the health plan. The “A Penalty” addresses failure to offer minimum essential coverage to at least 95% of all full-time employees (and their dependents), and the “B Penalty” addresses failure to offer coverage that is affordable and provides minimum value.
ACA reporting via Forms 1094-C and 1095-C includes the information relevant for the IRS to assess these penalties. The IRS no longer offers a good faith enforcement safe harbor, so accurate reporting is now more important than ever.
This session of Newfront Office Hours will address the key ACA employer mandate and reporting considerations and strategies for employers to avoid potential liabilities.
Topics for Discussion
Applicable Large Employer (ALE) Status: Which employers are subject to the employer mandate?
Employer Mandate Penalties: Reviewing the A Penalty and B Penalty potential liabilities
Full-Time Employee Status: Understanding the monthly measurement method and the look-back measurement method (and its associated measurement, administrative, and stability periods)
Affordability Determinations: The 2023 affordability percentage decreases to 9.12%, what are the action items?
ACA Reporting: The main requirements and streamlined reporting options under the Forms 1094-C and 1095-C
Click here to view the presentation slides.
Lead Benefits Counsel, VP, Newfront