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3 Resources To Assist Employers With 2021 ACA Reporting

ACA Times

What precautions is your organization taking to ensure a smooth ACA reporting experience this year? As an ACA Times subscriber, we’ve curated a list of the top three ACA resources to help ensure a smooth 2021 ACA reporting experience, to be filed and furnished in 2022. . The 2021 ACA 101 Toolkit .

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IRS Brings More Updates To Forms For 2017

ACA Times

With ACA reporting deadlines approaching soon, the IRS has issued draft updates to forms 1094-C and 1095-C which large employers must use to report on certain health plan information to the IRS. Department of Health and Human Services, the CMS posted updated Summary of Benefits and Coverage (“SBC”) and Uniform Glossary of Terms templates.

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Changes Proposed to Summary of Benefits

ACA Times

A revised Uniform Glossary is also aimed at making it easier for consumers to understand insurance terms such as individual responsibility requirement, minimum value, cost -sharing reductions, premium tax credit and preventative care. We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance.

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Heads up: Changes coming to the ACA’s Summary Statements

HR Morning

So the three main federal agencies charged with ACA implementation have set out to make some changes to the SBC templates as they currently stand. The feds also updated the SBC glossary to add complicated ACA-related terms like “cost-sharing reduction,” and basic terms like “claim.”. A third cost-example.

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Employee Benefits Glossary of Terms

Zenefits

Use this glossary to find and review the most common benefits terms. Affordable Care Act (ACA). Under the mandate, Applicable Large Employers (ALEs) must provide ACA-compliant health coverage to at least 95% of their full-time employees, or pay a penalty. Accrual, Leave. The amount of leave (e.g., Affordability.

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What Does ‘Play or Pay’ Mean?

HR Daily Advisor

It’s a common misconception that the Affordable Care Act (ACA) mandates that large employers provide health insurance for employees. In this case, play refers to providing health insurance that meets all requirements of the ACA. This distinction is what is known as “play or pay.” percent of annual income.

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The Complete HR Compliance Glossary

Zenefits

Below you’ll find a glossary of several HR-related terms that are used when anyone is talking about HR compliance. Affordable Care Act (ACA) Reporting. Affordable Care Act (ACA). Depending on your background, compliance can be one of those words that sends shivers of terror down your spine. We understand.