NOTICE TO EMPLOYERS: The ACA Employer Mandate is Still in Effect

Benefits Administration background

NOTICE TO EMPLOYERS: The ACA Employer Mandate is still in effect.

Although the Affordable Care Ace (ACA) Individual Mandate was effectively repealed as of January 1, 2019, employer obligations remain unchanged and in full force in 2019.

Under the Employer Mandate, US employers with 50 or more full-time employees are required to offer full-time workers compliant health coverage. If employers are found outside of compliance, they risk paying a penalty.

In addition to providing coverage, ACA requires employers provide proof that they have offered these full-time employees adequate coverage. This means employers must provide eligible full-time employee a form 1095-C by January 31, 2020 and provide the IRS with copies of these 1095-Cs along with a 1094-C.

What happens if you fail to comply? There are penalties and the financial implications are significant. If you fail to offer coverage, the penalty is $2,500 annually per full-time employee (minus the first 30 FTEs). If you provide a plan that doesn’t meet ACA standards, that penalty has also increased in 2019 to $3,750 (if they obtained a subsidy on an exchange). Click here for more information on penalties. 

THE GOOD NEWS: QBS Benefits has a solution. 

We can meet your needs and minimize your exposure. Group plans can be built with as few as two employees and benefit plans can be employer or employee paid.

Our solutions include:

  • Major Medical Benefit plans
  • Minimum Essential Benefit Plans and Expanded plans
  • Telemedicine
  • Limited Medical Plans
  • Dental and Vision Coverage
  • Accident Plans
  • Short- and Long-Term Disability Plans
  • Group Life Medical Plans
  • Individual Life plans
  • Variable, whole, universal or term life plans
  • Hospital Confinement Insurance
  • Critical Illness Plans
  • Cancer Insurance

 

No matter your specific needs, QBS can help. Contact Bob Gajoch 864-660-6947 or regajoch@qualitybsolutions.net TODAY to develop your individualized program.

Click here to download a PDF