Welcome to Our ACA Compliance Center
Whatever you want to call it; Health Care Reform, The Affordable Care Act (ACA) or Obamacare, is one of the most confusing and difficult laws small business owners have ever had to deal with.
The ACA is thousands of pages long and it is changing constantly. The employer mandate, which affects businesses with more than 50 employees, has already been delayed twice; once in July 2013 and again in February 2014.
Continue reading or go directly to: Our ACA Compliance Center
Most recently, the penalties (up to $3,000 per employee) for employers with 50-99 employees has been delayed until 2016, but if you haven’t implemented a compliance strategy as of today, you are probably already in violation of the law.
The Congressional Budget Office (CBO) has estimated that the IRS will collect more than $130 Billion dollars from employers who do not comply with the law. The IRS has hired thousand of new auditors to carry out these audits and if you think that you will never get audited, you’re not living in reality.
The audit “trigger” is when your employees file their personal tax returns and the auditor compares that return to your corporate return. If an employee is receiving any Government subsidy for health insurance, meaning the employee bought health insurance on a public exchange, your company is not in compliance. This could mean hefty penalties for your business.
The IRS already admits it could take up to 18 months for their staff to complete the audits. So many business owners won’t even know they are in violation of the law for almost 2 years, which could cost employers thousands of dollars in penalties. – Good for funding ACA, bad for business owners.
This is why we have created our ACA Compliance Center. To help business owners learn how to stay compliant with the law. There is so much information out there and so much confusion, so we are hoping our ACA Compliance Center becomes a great resource for you.
The ACA Compliance Center contains FAQ’s, new law updates, compliance PDF’s and even videos to help educate small business owners. It’s a free resource any business owner can use to learn about The Affordable Care Act.
We hope you find our ACA Compliance Center useful. Of course if you have any questions and want to speak with on of our compliance officers, feel free to call us at: 800-234-3702