Providing Support for ACA Requirements
The Affordable Care Act (ACA) was enacted to encourage employers to provide eligible employees with timely, affordable, and appropriate health benefits. Employers must obtain and maintain accurate data to provide the right benefits at the right time and to the right employees. Tracking and reporting this information is a big part of maintaining compliance with the ACA and avoiding costly penalties from the IRS and state agencies. JCA can assist you with ACA compliance.
Businesses subject to the Affordable Care Act (ACA) must provide affordable health insurance with minimum essential coverage and minimum value to at least 95% of their full-time employees (including dependents). They must also provide the following:
- Notice of coverage and benefits available benefits
- Benefits and coverage summary (outlines offered plans and employee cost)
- Annual confirmation of offered benefits (Form 1095-C, Offer and Coverage of Employer-Provided Health Insurance, goes to employees. Form 1094-C goes to the IRS together with the 1095-C forms provided to employees as part of ACA requirements.). This form must be filed with the IRS and all applicable state agencies each tax year, confirming that eligible full-time employees were offered timely, affordable, and ACA-compliant coverage every month.
Who is Required to Comply with the ACA?
The ACA applies to applicable large employers, which are businesses with 50 or more full-time and full-time equivalent employees on average in the previous year. JCA can help you access the expertise and resources necessary to navigate the shifting ACA landscape.
We’re Ready
to Help You
Our commitment is to provide clients with the tools, resources, and strategies to make fully informed decisions regarding benefit plans – for the protection and well-being of their most critical asset: their employees, and families.
For more information about how we can make a difference for your business and employees, give us a call at (850) 561-8700.