ACA Compliance in 2018
The long-term status of the Affordable Care Act has likely created uncertainty across your organization over the last six months. But as conversations continue to unfold, we’ve advised our clients to proactively prepare for 2018 filing season as they have each and every year the ACA has been in effect.
To further illustrate ways in which organizations should prepare in 2018, Paycor’s Chief Human Resources Officer Karen Crone was featured in HR Dive and had this to say about what to expect moving forward. “ACA for 2018 is in effect and is being enforced,” said Crone. “It’s still the law of the land and employers are still required to offer benefits.”
And as employers prepare for filing in the new year, they must be aware of the following changes:
- Open enrollment for 2018 is shorter than in previous years, with a cutoff date of Dec. 15, 2017.
- Affordability standard for job-based health plans has been reduced from 9.69% to 9.56% due to the increase in the poverty level in most states.
- New preventative care items are included in the plan in 2018.
As far as what’s next for the ACA, it’s anyone’s best guess, but Crone cautions HR leaders to “stay alert and see what happens in the healthcare marketplace.”
To read the entire HR Dive article, click here.
Is your organization feeling confident about your ability to manage ACA compliance in 2018? If you’re hesitant or would like to speak to our expert team on ways Paycor can help you manage ACA confidently, contact us and we’ll be happy to discuss the best path moving forward for your business.