As the Affordable Care Act’s reporting requirements begin to take effect in 2015, it’s never been more important to take every possible measure to accurately track what’s going on with your employees’ health care status.
You’ll need to stay on top of issues such as whether your all eligible employees have been offered your employee-sponsored health care coverage, whether the coverage offered meets the required minimum coverages, which employees are eligible for health care coverage, and much more. Benefit administration systems can help you document employees hours, verify when notice was given to employees, and even track when employees’ dependents are reaching the age of disqualification.
Information such as this is needed to enable you to complete the required IRS forms and comply with the ACA requirements. While a number of options exist for keeping up with this and other important data, the main takeaway from this Employee Benefit Adviser article is that the reporting requirement is a mandatory one that cannot be overlooked. Even employers with 50-99 employees, who do not fall under the employer mandate until 2016, are still required to report on data from 2015.
Make sure to review the requirements so that you know exactly what’s needed, and please contact us if we can be of any assistance.