For employers, complying with the Affordable Care Act has been a headache, but according to a new survey by Deloitte, it's been a mostly manageable one.
There are a number of different challenges associated with ACA compliance and opinions from employers are varied when it comes to which are the hardest to deal with.
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However, only 13 percent of employers say they have not faced any challenges in complying with the health care overhaul.
The most widely-cited issue was obtaining technical information. Fifty-nine percent of employers cite that as a challenge.
The requirement that employers provide health coverage to 95 percent of full-time employees or pay a fine has put pressure on firms to closely monitor the hours of workers who are classified as part-time. Just under half of employers say tracking employee status has been a major challenge.
As 2016 comes to a close, the study also asks employers how they plan to address ACA compliance when they file their 2016 taxes in the coming months.
When asked who prepared the critical 1095-C forms during the past tax year, a third of surveyed firms say they outsourced that task to a payroll provider, 13 contracted with a tax firm and 7 percent handed the work off to an HR consulting firm. Only 21 percent prepared the forms internally.
Sixty-three percent of employers say they plan to take the same approach to preparing the forms this year. Twenty-three percent say they are undecided on the matter, while 14 percent say they are adopting a new compliance approach.
Fortunately, most employers do not say they expect to have major issues with compliance. However, 45 percent say they expect to receive notice from the IRS about "minor and manageable" issues regarding compliance. Twenty percent say they expect to be "swamped" with IRS notices, however.
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