Even in the absence of a bill repealing the ACA, which will likely take months to craft, a move by the next president to stop the payments would likely devastate the private insurance exchange and force even more participating insurers to pull out of the system. Insurers have protested, alleging in a brief filed in response to the lawsuit that the suspension of payments would cause premiums for ACA customers to skyrocket.
The consequences of a collapse of the ACA exchange have been brought into sharp relief in the days since the election, as hundreds of thousands of consumers have rushed to purchase health plans through healthcare.gov.
While Republicans have said that they want to do whatever necessary to ensure that those who currently depend on marketplace plans will have a period of time to transition into different coverage, what that coverage will look like remains a mystery.
Some conservatives would be content replacing the subsidized coverage with a tax credit that people can use to buy health care, while others fear that that won’t be good enough for those who have grown accustomed to the coverage they have enjoyed for more than three years now.
Click here to download the checklists.
ALL Applicable Large Employers (over 50 lives) MUST:
Click here to download an ACA Audit Checklist.
The Affordable Care Act (ACA), or federal health care reform, imposes a number of requirements on employers. Whether you are a large or small employer, and whether you do or do not offer health coverage to your workers, some of the ACA’s requirements apply to you. This checklist highlights ACA provisions that require employer action in 2016. Click here to view the checklist: ACA Checklist 2016
If your group status has changed from Large Group to Small Group for Affordable Care Act compliance, this is for you: What you need to know about your small group renewal
Health care reform is in full swing now, with many of the major provisions in place. More than 8 million individuals have enrolled in coverage through the health insurance marketplaces. And it’s easier to compare plans now with defined levels of coverage. But there’s still more to come. We’re here to help as you continue to navigate this constantly changing landscape. In this guide, you’ll find a high-level overview of the primary provisions, things to consider, and steps you may need to take as a result. Use it as a resource to decide about your health care strategy.
Click here for the full article.
Most health reform changes apply regardless of the employer’s size; but, some changes apply only to small employers and others only to large employers. Even employers that do not offer any coverage need to comply with certain requirements to distribute notices to workers or submit reports to federal agencies.
To view the Large Employer Health Reform Checklist, click here.
To view the Small Employer Health Reform Checklist, click here.
Through the link below, you can access a helpful Webinar by CalChamber on ACA.
The agenda includes:
-Determining if you are an ALE in 2015 and/or 2016
-Identifying full-time employees
-Complying with the Play or Pay Mandate
-Minimum Essential Coverage (MEC)
-Minimum Value Plan (MVP)
-New rating methodologies and product offerings
-New ACA Reporting Requirements
-IRC Sec. 6055 Reporting (Offeror of MEC)
-IRC. Sec. 6056 (Applicable Large Employer
Click here to access the presentation PDF.
Effective January 1, 2016, employers with 50 or more full-time equivalent employees must comply with the Pay or Play mandate. Coverage must be offered to at least 95% of their full-time employees (and their dependents). If the offered coverage is deemed unaffordable or as not meeting a 60% actuarial value, the employer will be subject to a fine if an employee receives a subsidy when purchasing coverage through Covered California.
The Affordable Care Act added sections 6055 and 6056 to the Internal Revenue Code which require employers to file information returns and furnish statements to individuals about their health insurance coverage. Reporting requirements for each code section is provided below.
Presentation on ACA year-end filing by Basic HR Solution.