Under the Affordable Care Act (ACA), all Applicable Large Employers (ALEs), meaning employers with 50 or more full time and full time equivalent employees, are required to report the health care coverage they offered to their full time employees during the previous year using the IRS’ 1094-B/C and 1095-B/C forms to ensure ACA Compliance.
The IRS' ACA Compliance requirements for Tax Year 2015 included “good faith” efforts and administrative leniencies, that is, the IRS recognized that as a new and complex reporting requirement, some regulations of reporting eligibility and responsibility were unclear. Many tribal leaders and their representatives were uncertain about their application of employee mandate, otherwise known as the employer shared responsibility provision, within the ACA.
For Tax Year 2016, the ACA Compliance regulations are clear. The US Treasury confirmed that the employer shared responsibility provision applies to all Tribal ALEs. For exemption, legislation is required. Otherwise, if regulations are not met, the employer faces strict penalties.
As an expert of the IRS’ ACA Regulations and the legal challenges facing Native American governments, organizations, and employers, Nicole Elliott of Holland & Knight shares more information here.
BenefitScape is able to provide all tribal employers support for their ACA Reporting and Compliance needs. Our experience with employers of any and all backgrounds and sizes has guaranteed 100% ACA Compliance for every client.