Despite the recent events in Washington and consideration of a repeal and replace bill in Congress, the Affordable Care Act and all of its provisions are still in effect. Employer Shared Responsibility reporting requirements are still applicable as well. All Applicable Large Employers should be prepared to file complete and correct 2017 returns.
Businesses that are considered an applicable large employer under the employer shared responsibility (ESR) provisions under the Affordable Care Act — that is, any employer with 50 or more full-time employees, including full-time equivalents — are required to provide detailed reporting to the IRS of full-time employees and of health insurance offered to these employees, their spouses, and their dependents.
If your business is an applicable large employer, you must file Forms 1094-C and 1095-C with the IRS as well as provide Forms 1095-C to their full-time employees, or face potentially costly non-filing penalties.
Our ACA Report will analyze of all your employees and classify them in the proper employment category. It will also give you a monthly summary of where you stand with regards to the 50 FT/FTE employee threshold.
The services also includes monthly consultation calls with an Advantage ACA Team Member who will help determine how to track the data needed to complete the necessary forms, as well as go over any new or updated information.
When it is time to produce and file the necessary forms, Advantage will provide Forms 1095-C to be disbursed to employees and file all completed forms with the IRS.
Visit our ACA 101 page for up-to-date information on guidelines, reporting requirements and penalty information.