ACA Compliance Timeline for Employers
Stay informed on Affordable Care Act deadlines, changes and updates as they happen. Gain insight and perspective on the key requirements of your business during the evolution of the Heath Care Reform Act.
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Flexible Spending Account (FSA) Annual Limit
January 1, 2013
What is the requirement?
For plan years beginning on or after January 1, 2013, a $2,500 limit applies to employee healthcare FSA contributions.
What’s the impact on your business?
The FSA annual limit will affect Benefits Administration within your organization.
How can Payroll Managers help your business?
While in most cases the deadline to begin implementing this requirement has passed, the FSA annual limit will be an ongoing compliance challenge for employers. PM’s Human Capital Management solutions help:
- Aid compliance with FSA requirements
- Reduce administrative burden of communicating FSA limits to employees
- Boost employee engagement by improving communication and increasing participation
- Reduce benefits costs via consumer-driven or high-deductible health plans, while consolidating multiple spending accounts vendors
Health Care Reform Questions?
Call 1-866-684-5684
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Annual Dollar Limits & Waiting Periods / Exclusions
January 1, 2014
What is the requirement?
For plan years beginning on or after January 1, 2014, employer group health plans may not impose annual dollar limits on essential health benefits, waiting periods of longer than 90 days, or pre-existing condition exclusions.
What’s the impact on your business?
These requirements will affect Benefits Administration within your organization.
How can Payroll Managers help your business?
Pm’ss Human Capital Management solutions help:
- Mitigate excessive costs based on employment status
- Aid compliance with waiting period rules
Health Care Reform Questions?
Call 1-866-684-5684
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“Play or Pay” Employer Shared Responsibility
January 1, 2015
What is the requirement?
Employers with 50 or more full-time employees plus full-time equivalent employees, must offer affordable, minimum essential coverage of minimum value or potentially be subject to tax penalties.
What’s the impact on your business?
The Employer Shared Responsibility requirement will affect Employer Taxes and Fees.
How can Payroll Mangers help help your business?
PM’s Human Capital Management solutions help:
- Manage Shared Responsibility requirements through an integrated approach to workforce planning and administration, including benefits, payroll, reporting and reconciliation, and time and labor management
- Mitigate risk related to cost of benefits and employee burden levels
- Aid compliance regardless of company size
- Reduce practitioners’ administrative burden in determining wage levels
Health Care Reform Questions?
Call 1-866-684-5684
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