Despite the uncertain future of the Affordable Care Act Applicable Large Employers and Third Party Administrators should continue to finalize their 2018 ACA Forms. As you start to strategize your 2018 benefits programs, it is essential to keep up with new and ongoing compliance obligations necessary to keep your organization ACA compliant. Here are the top 10 ACA compliance issue you will see this year.
Top 5 ACA Compliance Issues You Will See This Year
1. Employer Shared Responsibility
Although the current administration is planning to eliminate or at least alter the Affordable Care Act most reconciliation rules will not allow for the repeal of the employer shared responsibility. The minimum value requirement for 2018 remains unchanged; however, affordability has decreased. An employer can only charge a full-time employee 9.56% of their household income for health insurance compared to 9.69% in 2017.
As you prepare your ACA forms for filing be sure, you will need all employee documents offering coverage and most importantly the consent waivers for that coverage.
2. Cadillac Tax
All applicable employers should review their risk of the Cadillac tax even though the tax is not scheduled to begin until 2020. Read more about what the Cadillac tax is by clicking here. However, the uncertain American Health Care Act in its current form will delay the implementation of the tax until 2026.
The best way to review your risk of increased tax obligations is by identifying plans and benefit factors. Review your companies flexible spending account, health savings accounts, and health reimbursement arrangements to gain a better understanding of your future obligations. As an ALE or TPA, you should focus on pre-65 retiree plans and other high-cost plans.
3. Preventative Services
As of January 2018, preventive services are now included as a requirement. These requirements include adult depression screenings, low dose aspirin for at-risk adults, syphilis screenings, and more.
4. Mental Health
This issue remains uncertain since the mental health parity was passed a year before the ACA and has been mostly overshadowed. However, with recent tragedies, this reform issue will not be going anywhere anytime soon. The new compliance deadline for 2018
is unclear but is a significant concern for all business owners. Your business should undergo a limited review and decide if your business requires a more in-depth dive to ensure overall mental and behavioral health.
5. Third Parties
Health plans continue to grow increasingly complicated more businesses are now turning to third parties to comply with ACA rules and regulations. However, employers must continue to monitor their plans. Consider including a protective provision such as anti-assignment and forum selection to limit how long the company is exposed to lawsuits, where you can be sued, and by whom you can be sued.
2018 ACA Filing Season
Unfortunately, we cannot predict the future of the ACA, but we can help your business remain complaint during the upcoming season. ACAwise is an all-in-one ACA reporting software designed to track and monitor your ACA compliance throughout the year. When it is time to e-file we will create Forms 1095 and 1094 on your behalf! Then you just review your forms and securely e-file directly with the IRS. We will even mail your recipients copies from our South Carolina based office the next business day.