With the New Year comes a new year of challenges for small and mid-size employers as the Affordable Care Act (ACA) goes into full effect. In 2015, employers with 50 to up to 100 full-time equivalents were granted relief from some of the ACA requirements including the employer shared responsibility provisions. However, these employers are still subject to the information reporting responsibilities for 2015 that require employers to send reports to employees and to the IRS beginning March 31, 2016. For 2016, the employer shared responsibility mandate will now apply to employers with 50 full-time equivalents. Employers must either offer minimum essential coverage that is “affordable” or risk paying a penalty calculated based on the number of employees and type of coverage offered. Awareness of how these requirements apply to your company are key to protecting against significant penalties and failure to consider the cost of compliance with new and complex administrative requirements will impact the bottom line and profitability. Nonetheless, many employers are still in the dark about their obligations or mistakenly believe that using independent contractors and staffing employees insulates them from the ACA. Join Lorie Maring of Fisher & Phillips, LLP on the February 24 webinar as she demystifies the ACA penalty structure and coverage requirements, addresses common misconceptions regarding the law that leave many employers at risk for penalties, and provides practical tips for dealing with the ACA requirements and minimizing the cost of compliance.
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