With the Affordable Care Acts employer shared responsibility reporting requirements for 2015 quickly approaching, benefit advisers should already be working with employer clients to implement benefit administration systems to ensure compliance with the law, industry experts say. And those advisers who havent had this conversation with their clients need to do so now, they caution.
Starting in 2015, applicable large employers will need to identify whether eligible employees have been offered employer-sponsored health care coverage and whether that coverage meets the standard for minimum essential coverage, among other requirements. Employers will also be required to track employee eligibility for health care coverage, including number of hours worked, etc.
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