The Internal Revenue Service (IRS) has begun to send out letters informing employers of their potential liability for an employer shared responsibility assessment for the 2015 calendar year. Starting in 2015, a key component of Affordable Care Act (ACA) compliance for large employers involved offering affordable, minimum-value health insurance to at least 70 percent of their full-time employees or potentially being liable for a penalty. This increased to at least 95 percent for 2016 and subsequent years.
You may be among the many employers who have received an exchange notification when your employees enrolled in subsidized coverage in a public exchange, but the reality of the ACA’s employer mandate is about to set in. The IRS has sent out their first round of Employer Shared Responsibility Payment notifications. So what does this mean for you?
Watch our ACA Special Edition webcast and get critical insights on the implications and impact of these latest development, such as:
- What did the IRS announce about ACA penalties?
- What ACA payments are covered by the letter and what does it look like?
- What should I do if I receive a letter?
- What should I be doing now to stay compliant?
This marks the 5th webcast in our ACA Special Edition series. We’ve been with you in lock step through this journey and will continue to do so. ADP remains at the forefront of helping employers understand the complex compliance, financial, and strategic issues surrounding ACA compliance. Tap into our expertise to ensure you’re in the best shape possible for future compliance changes that may come about along the way.