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The Affordable Care Act: One year later

It's been about a year since the Affordable Care Act came into effect. The so-called employer mandate was originally to begin impacting companies in 2014, but was delayed until 2015, according to CNN Money. Now, companies are beginning to become more affected by the ACA than previously. Businesses will face fines if they don't offer coverage that isn't affordable or comprehensive.

Fortunately, there is an easy way to determine if a company will have to pay those fines or not. The first is very simple: If no employee chooses subsidized insurance from the ACA individual exchange and opts instead for either no insurance or a company policy, then the business will not incur the penalty.

After that, if someone chooses an individual plan versus the plan set up by his or her employers, then the company faces two more tests. The first is whether the insurance is affordable. If workers have to spend more than 9.5 percent of their income on insurance, it's not considered affordable.

The second test is comprehensibility. If the policy pays for at least 60 percent of the staff's entire medical expensive, plus offers other health benefits like prescriptions, then the plan is considered comprehensive.

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Affordable Care Act: Reporting requirements for applicable large employers

To prepare for 2016, applicable large employers need to track information each month in 2015. Use this document created by the IRS to better understand the employer reporting requirements of the health care law so you can be ready to fill out the new IRS Form 1095-C and Form 1094-C in 2016.

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Guide to the ACA's employer reporting requirements

Beginning in 2015, the Patient Protection and Affordable Care Act (ACA) will require any employers with 50 or more employees to report the cost of health care coverage under an employer-sponsored group health plan on employees' W-2 forms. Use this guide to prepare for the changes coming in 2015 to the ACA's employer reporting requirements.

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The healthcare reform survival guide

Download this white paper to learn more about the changes facing employers as a result of the ACA. You’ll find explanations of compliance issues, checklists of what your company should be doing, and a calendar of important effective dates.

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How to determine if you should pay or play

This flow chart can help you decide which options are right for your company.

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A look ahead: The ACA in 2015 and Beyond

My Workforce Analyzer

Now you have the power to track and analyze your company information so you can make the informed decisions necessary about healthcare and the Affordable Care Act (ACA) requirements.

With My Workforce Analyzer, you'll have the ability to:

  • Analyze your employee hours to determine if you qualify as a large employer
  • Determine coverage affordability
  • Explore the pay-or-play decision (offer coverage or take the penalty)
  • Examine employee time required to monitor and manage part-time and full-time eligibility.

My Workforce Analyzer

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Sage HRMS Payroll

Sage HRMS Payroll is for U.S. and Canadian organizations seeking an integrated HR/payroll system. As part of an overall Sage HRMS solution, Sage HRMS Payroll provides a comprehensive and flexible solution that includes the payroll functionality needed by midsized organizations to process their payroll accurately and quickly every time.

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allCheck from BenefitMall

allCheck from BenefitMall is a pay or play calculator designed to provide a report summarizing estimated results—potential penalties or tax credits based on responses to a short survey.

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Sage Employer Resources

Sage Employer Resources features thousands of pages of employee benefits and human resources-related content about topics that every business needs to know, including health care reform. Plus, there's no additional cost for access for Sage Business Care Gold customers.

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