ACA Compliance Checklist
ACA Compliance Checklist
General Items
- Develop a compliance timeline for ACA deadlines
- Train HR and payroll staff on ACA requirements
- Utilize software or services for ACA compliance tracking
Employer Responsibilities
- Determine applicable large employer (ALE) status
- Provide health insurance to eligible employees
- Offer minimum essential coverage (MEC) to at least 95% of full-time employees
- Ensure that coverage meets minimum value requirement
- File annual ACA forms (1094-C and 1095-C) with IRS
- Distribute 1095-C forms to employees by deadline
- Keep records of health insurance offers and employee eligibility
Employee Responsibilities
- Review health insurance options provided by employer
- Enroll in health coverage during open enrollment period
- Report any changes in employment status or household size
- Complete tax filings accurately, reporting health coverage if required
Compliance Monitoring
- Conduct annual audits of health insurance offerings
- Review employee eligibility regularly
- Monitor changes in ACA regulations and guidelines
- Stay informed on IRS penalties for non-compliance
Documentation and Record-Keeping
- Maintain records of employee health coverage offers for at least 3 years
- Keep copies of filed 1094-C and 1095-C forms
- Document any communications regarding health insurance options
Generated from Panda Checklist
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