518-373-4111
The reporting and compliance requirements associated with the Shared Responsibility Provision of the Affordable Care Act (ACA) affect Applicable Large Employers (ALEs), those with 50 or more full-time (FT) or full-time equivalent employees (FTE).
For 2015, ALEs of 50-99 FT/FTE employees are required to:
- Report to the IRS any information regarding health insurance coverage offered to FTEs via Form 1094-C and Form 1095-C
- Provide employees with Form 1095-C so they can report the same information to the IRS
- Prepare to provide FTEs with affordable health care coverage in 2016
- Submit information by February 29, 2016 (if done by paper) or March 31, 2016 (electronically)
ALEs with 50-99 FT/FTE employees will not be liable for non-compliance penalties.
For 2015, ALEs of 100 or more FT/FTE employees are required to:
- Execute all of the above, plus:
- Offer FTEs affordable health care coverage for the entire 2015 calendar year
- Submit information by February 29, 2016 (if done by paper) or March 31, 2016 (electronically). However, employers with 250 or more FT/FTE employees MUST submit electronically by March 31, 2016.
ALEs with 100 or more FT/FTE employees are are subject to penalties for non-compliance.
If you are unsure about your responsibilities as an employer regarding ACA reporting, download our latest guide, Affordable Care Act for Employers, a comprehensive resource for employers that are affected by the ACA.
You’ll understand:
- Your requirements as an employer under the ACA
- Penalties for non-compliance
- Resources that are available to you
- And much more!
GTM Payroll Services provides ACA reporting solutions that cover the requirements of the employer mandate. Contact us today at (518) 373-4111 for a quote on ACA reporting*.
*-Available to GTM payroll clients. Not a client? Give us a call at (518) 373-4111 and we’ll show you how we can save you time and money with our payroll, insurance, tax and human resources solutions.
