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ACA Reporting
What is ACA Reporting?
In 2015, mandatory Affordable Care Act reporting started. In 2016, applicable large employers had to report whether an individual is covered by minimum essential coverage and that an offer of minimum essential coverage that provides minimum value was made to each full-time employee.
Getting the correct information for the reporting is a two-step process. First, it requires determining whether the employer is indeed an applicable large employer. The biggest surprise for some employers is that even though they may have union employees offered coverage through a local union, these employees may count toward the determination of whether or not the employer is an applicable large employer.
Second, are the plans affordable? Are they meeting the minimum requirements under the ACA? Plans need to be examined for value and determined to meet the minimum requirements.
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