The Patient Protection and Affordable Care Act (PPACA), signed into law by President Obama on March 23, 2010, and the amendments made by the Healthcare and Reconciliation Act of 2010 (together, known as the Affordable Care Act), have had significant employment tax and information reporting implications.
The ramifications of healthcare reform in general, and its impact on employers specifically, have created confusion and complications for human resource professionals. As the requirements of the Affordable Care Act (ACA) are implemented in phases now through 2020, this guide will help you understand what you need to be doing already as well as what you need to prepare for in the future.
What does the ACA mean for you?
By now, you’ve probably heard about many of the provisions in the Affordable Care Act. Of particular note are a number of new healthcare reporting requirements that are needed to assist in the enforcement of the various health coverage required of individuals, employers, and insurers, with staggered effective dates.
There are also some hidden surprises. This survival guide will address the changes facing employers. You’ll find explanations of compliance issues, checklists of what your company should be doing, and a calendar of important effective dates.
A word of caution: Additional guidance about healthcare reform is frequently released by the Internal Revenue Service (IRS), the Department of Labor (DOL), and the Department of Health and Human Services (HHS). The National Association of Insurance Commissioners (NAIC) is also weighing in. There are still more
questions than answers. A good overview can be found at: healthcare.gov
Keep up with changes in dynamic HR resource sites such as SHRM.