HR Compliance

Power-Packed Affordable Care Act Resource Guide

By

Robert Barclay

| Aug 2, 2013

Because of the complexity of the Affordable Care Act (ACA), the IRS has created a new, simple Publication 5093 to help employers find answers to questions about the new health care law. This one-page publication contains links to websites where employers may find further information on health insurance, tax benefits and responsibilities and small business resources as it relates to the ACA. These web links direct employers to information from the Internal Revenue Service, U.S. Department of Labor, U.S. Small Business Administration, and Healthcare.gov – the federal government’s link to the much talked-about Health Insurance Marketplace.

There is also legal guidance on the labor provisions and a link to the U.S. government business portal.  This is a good resource for employers to keep handy on your computer desktop, so that information on the ACA from government sources is only a few mouse-clicks away. Some of the various sites linked through Publication 5093 and a sampling of the information they contain are as follows.

HealthCare.Gov
Healthcare.gov contains information on the Health Insurance Marketplace, the site to go to for information and to obtain quotes for health care coverage for individuals.  Answers to questions such as, “What if I am a part-time employee without health coverage?” and “What are my health coverage options if I am unemployed?” can be found at this website. There are also links to the various websites for the states that will have their own health insurance marketplaces as a part of the ACA available.

IRS.gov/ACA
This site contains an Individuals and Families section that includes information on the Individual Shared Responsibility requirement that begins in 2014, the Additional Medicare Tax, and the Premium Tax Credit to help pay for health care coverage obtained through the Marketplace. The link also contains an Employer section divided into information for small employers and large employers under the ACA.  Information on small employers’ coverage opportunities through the SHOP (Small Business Health Options Program), small business health care tax credits and 2015 reporting requirements can be found here.

dol.gov/ebsa/healthreform
The U.S. Department of Labor’s website above takes you to their webpage on the ACA where there is a plethora of information including source documentation on rules and regulations for the ACA, Model Notices that employers may use to meet the requirements of notifying their employees of the Health Insurance Marketplaces, Medical Loss Ratio and ACA implementation FAQs.

Additionally, the link for the U.S. Small Business Administration has several articles directed to various sized employers with guidance specific to their company sizes, and the link for the U.S. Government Business Portal has a wizard that will ask questions that you can click through that will customize information tailored for your businesses’ specific situation.

In the coming years, the ramifications to the massive redesign of the U.S. health care system will become reality.  It is imperative that employers of all sizes become versed in what is required of them to meet the demanding requirements of the Affordable Care Act.

It is pertinent that you partner with a trusted human capital management provider now. At Paycom, we are committed to helping keep you up to date with the latest information regarding the Affordable Care Act.

About the Author

Robert Barclay

Robert Barclay has been the Tax Research Team Lead at Paycom since 2012, and has been instrumental in such company projects as the development of its Affordable Care Act compliance product, implementation of geolocation services and redesign of Form W-2. He joined Paycom in 2011, bringing more than 20 years of experience with the capital markets consulting practices of Ernst & Young in Memphis, Tenn., and Birmingham, Ala.; and Causey Demgen & Moore in Denver, Colo. A native Oklahoman, Barclay is a graduate of Rhodes College in Memphis, where he played football as linebacker.

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