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ACA: 4 things employers should focus on this fall

The ACA is alive and well, despite renewed legal challenges and the elimination of the individual mandate beginning next year. Here are four things about the ACA that employers should focus on now to avoid significant financial liabilities.

By Judy Boyette and Liz Masson | Updated on August 21, 2018

 

2 stamps with rules and regulations written on them

During the coming months, employers may have questions about whether they still need to worry about the Affordable Care Act (ACA). The answer is yes; the ACA is alive and well, despite renewed legal challenges and the elimination of the individual mandate beginning next year.

While the Tax Cuts and Jobs Act reduced the tax penalty for individuals who don’t have health coverage to $0, effective for 2019, employers are still subject to penalties for failing to comply with certain ACA rules. For example, the IRS is currently enforcing “employer shared responsibility payments” (ESRP) penalties against large employers who fail to meet the ACA requirements to offer qualifying health coverage to their full-time employees. For this purpose, large employers are those with 50 or more full-time or full-time equivalent employees. Here are four things about the ACA that employers should focus on now to avoid significant financial liabilities.

1. The IRS is currently assessing penalties using 226-J letters

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