How To Follow ACA Reporting Requirements While Avoiding Penalties
Understanding who is required to report
HR Question: I’m confused by the Affordable Care Act’s (ACA) reporting requirements. Can you clarify the reporting standards and deadlines so we can avoid penalties and remain compliant?
HR Answer: You’re not alone. Many organizations struggle to understand if they are following the ACA reporting standards correctly while others are not aware that they need to report in the first place. If you aren’t in compliance with ACA reporting requirements, each employee represents a potential fine. These fines can range from hundreds to millions of dollars—easy enough to bankrupt a smaller organization.
We’ve saved clients millions of dollars in potential fines from ACA reporting violations. It starts with a good understanding of the employer mandate because not every company is required to report.
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