As we approach the new year, it’s crucial for employers to stay abreast of the compliance requirements surrounding employer-sponsored group health plans. Ensuring compliance not only maintains the integrity of the health plan but also avoids potential penalties and ensures employees receive the benefits they deserve.… Read More
For Applicable Large Employers (ALEs), compliance with the Affordable Care Act (ACA) is not just a legal obligation but a crucial aspect of business operations. Understanding the nuances of ACA compliance can help your organization avoid penalties and ensure that your employees have access to affordable healthcare.… Read More
The Affordable Care Act (ACA) has been in effect for over a decade, but its reporting and compliance requirements continue to evolve. In 2023, businesses and employers will face several ACA reporting deadlines and compliance requirements that they must adhere to in order to avoid penalties and maintain compliance with the law. … Read More
Employers need to make sure they are compliant with the Affordable Care Act (ACA) and the employer shared responsibility regulations, also known as “the employer mandate” or ALE. This means that employers must consider many factors when deciding between offering full-time vs part-time benefits, including the costs associated with providing health coverage and other employee benefits.… Read More
The Affordable Care Act (ACA) has a number of different mandates and regulations, which can carry hefty penalties if you don’t comply. If you receive an ACA penalty, it’s important to understand what to do in order to minimize the impact of this financial burden.… Read More
The Affordable Care Act, also known as Obamacare, was one of the biggest healthcare overhauls in recent history. It aimed to provide affordable health insurance coverage for all Americans. After several failed attempts to repeal the act, it seems that ACA is here to stay. … Read More
While all organizations are susceptible to receiving IRS penalties, some industries are particularly vulnerable. These industries include home healthcare, staffing, restaurant, and construction industries.
Why are these industries under fire from the IRS? Let’s take a look.
These Industries Typically Have a High Number of Hourly Workers
Home healthcare, staffing, restaurant, and construction industries have a high percentage of hourly workers with varying schedules.… Read More
All applicable large employers (ALEs) must comply with the Affordable Care Act (ACA), which requires employers to offer minimum essential coverage to all employees.
If an employer does not comply with this employee coverage requirement could lead to penalties for the employer and potentially an IRS audit.… Read More
Although you’ve likely heard of Obamacare, you may not know that Obamacare is synonymous with the Affordable Care Act. This healthcare law that passed in 2010 goes by a few different names. You may also see this law referenced as PPACA or ACA (the acronym for Affordable Care Act).… Read More
The California Individual Mandate, originally signed into law in 2019, was a response to the federal individual mandate being struck down by the Trump administration.
This state law requires all California residents to obtain Minimum Essential Coverage (MEC) for a minimum of nine months, or they may face a tax penalty unless exempt.… Read More