Understanding The Affordable Care Act
The health care reform law was passed in two stages. On March 23, 2010, the Patient Protection and Affordable Care Act (PPACA) was enacted. Seven days later, the Health Care and Education Reconciliation Act (HCERA) was passed, making significant changes to PPACA. Jointly, the laws are referred to as the Affordable Care Act (ACA). The law’s intent is for all Americans to have health insurance either through an employer plan, purchase and maintain government-approved health insurance or pay a penalty to the IRS. The Act states that its goal is to “increase the number of Americans covered by health insurance and decrease the cost of health care.” The national consensus was to wait and see if the law was repealed before entering the ACA maze. Whether you support it, oppose it, like parts of it, or dislike parts of it, you need a plan to successfully get through the maze of ACA regulations, requirements and terminology and Accu Data can help get you through.
Are You Ready For Affordable Care Act Reporting Requirements? Accu Data Has You Covered!
2015 was the first year that the Affordable Care Act (ACA) requires annual reporting for applicable large employers. Applicable large employers are those with 50 or more full-time (or full-time equivalent) employees. These reporting requirements include providing and submitting forms that detail whether coverage was offered and utilized by individual employees. Accu Data’s Human Capital Management solution integrates the necessary benefits, time management and payroll components to keep our clients ACA compliant as well as provide the mandated 1094-C/1094-B and 1095-C/1095-B reporting and filings. With Accu Data’s HCM tools and compliance plan, you can manage your workforce, increase employee satisfaction, make the best decisions for your business and get out of the ACA maze.