Learn Your Compliance Basics
In a nutshell, the ACA requires that all businesses with 50 or more full-time equivalent employees (FTE) provide health insurance to at least 95% of their FTEs (and dependents up to age 26), or pay a fee.
An article posted on the Society for Human Resource Management (SHRM) provides a nice overview of the reporting requirements and tips for what’s ahead in 2016.
Information Reporting Deadlines
Forms 1095-B and 1095-C
March 31, 2016 (previous deadline was February 1, 2016)
Forms 1094-B, 1095-B, 1094-B, and 1095-C filing on paper
May 31, 2016 (previous deadline was February 29, 2016)
Forms 1094-B, 1095-B, 1094-B, & 1095-C filing electronically
June 30, 2016 (previous deadline was March 31, 2016)
Am I Subject to ACA Requirements?
This add-on component for Sage HRMS tracks and analyzes the HR data that’s already in your system to help you make informed decisions regarding employee healthcare and ACA requirements.
This unique tool works by monitoring your employee hours and coverage to help you determine if you qualify as a large employer, and what your obligations are under the ACA.
Pay or Play
The interactive dashboards and analytics of My Workforce Analyzer help you evaluate this “Pay or Play” option and make an informed decision.
Stop the Struggle
Contact a Sage HRMS authorized partner for more information us if you’d like to schedule a demo of My Workforce Analyzer.