From M&As to premium surcharges and ongoing implications of actions by legislators, the changing landscape of ACA employer responsibilities can be challenging to navigate.
Employers have seen unprecedented change in 2021 regarding health care for their workers, and compliance with Affordable Care Act (ACA) reporting mandates is no exception. At Equifax Workforce Solutions, we've been fielding numerous employer questions about how current events might affect their ACA responsibilities and have compiled the most frequently asked for BenefitsPro readers.
Should I be concerned that the IRS intends to sunset its ACA good faith reporting relief?
Yes. When the ACA was established more than 10 years ago, the IRS initiated what is known as good faith relief – a grace period to temporarily assist employers as they became familiar with Employer Shared Responsibility Provisions. This grace period exempted eligible employers from penalties for certain missing or inaccurate information.
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