The Affordable Care Act (ACA) is here to stay. At its core, ACA compliance requires you to take four significant steps:
- Test whether you’re subject to the law
- Define your full-time employees who must be offered group coverage
- Ensure that the coverage offered meets certain minimum standards
- Report those offers of coverage to full-time employees and the IRS
The next four blog posts will provide an overview of each of these steps. This week, we look at employer testing. To get the full story on ACA compliance, you should consult your tax, legal or benefits professional. You can also surf to the IRS’ website: www.irs.gov/Affordable-Care-Act; click on Employers.
Are you an applicable large employer?
Applicable large employers (ALEs) are those with 50 or more full-time employees, including full-time equivalent employees (FTEs), during the prior year. However, the prior year is a bit misleading. You must count your employees in 2...(register to read more)