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Answers to 3 Common Affordable Care Act Questions

March 29th, 2017 Comments off
ACA

The Affordable Care Act (ACA) is a complex law that crosses several lines of business including finance, tax, legal, IT, benefits and HR. Since no one person is an expert in all six areas, it’s natural that questions will arise when it’s time to do your government mandated reporting.

To help ease that process, here are the answers to some of the most frequently asked ACA questions:

  1. Who is Required to Report?

You are required to report if you are an applicable large employer (ALE). An ALE is a company with 50 or more full-time or full-time equivalent employees (FTEs), or a small employer that offers self-insured plans. Both groups are required to report IRS-required data annually beginning in 2016.

Your ALE status for the upcoming year is determined by current-year employee information. Full-time and full-time equivalent employees must be included in the calculation.

  1. Is My Participation Mandatory?

If you have 50 or more employees, you must complete Forms 1095-C and 1094-C.

If you have fewer than 50 employees, there are a few scenarios to consider, depending on your insurance status:

  • Self-insured: You must complete Forms 1095-B and 1094-B
  • Fully-insured: Your insurance carrier is responsible for filing on your behalf
  • No insurance: No reporting is required

 

No matter what, don’t forget to file Form 1095-C. It provides the IRS with information about employer-offered health plans. The 1095-C sends the IRS the information it needs to ensure that employers offering coverage are providing the minimum essential coverage that is affordable as required under the ACA.

  1. Will I Be Graded on a Curve?

There are no grades. You either pass or fail – and failure comes at a high cost. Penalties range from $250 to $3 million for each file return that’s missing, incorrect or incomplete. That includes employee copies.

You can be penalized for the following:

  • Failure to file returns
  • Failure to provide a copy to employees
  • Failure to include required information
  • Including incorrect information

 

Learn the benefits of using an ACA Compliance Partner

CareerBuilder Acquires WORKTERRA

September 6th, 2016 Comments off
CareerBuilder Acquires Workterra

Here at CareerBuilder, we’ve never shied away from change. Over the last few years we’ve evolved from a job board to a global HR SaaS organization, and today we’re taking another important step: We’ve acquired WORKTERRA, a leader in cloud-based benefits administration and talent management.

What does this mean for you?

While you’ve been able to rely on us for your talent acquisition and pre-hire needs, you can now look to us for your post-hire solutions, too. Last year we introduced Talentstream Recruit, a pre-hire platform that lets you post to 7,000 job sites and social media outlets, access 100 million candidate profiles, build optimized career suits, manage recruitment workflow and more. It allows you to manage the entire pre-hire experience from one interface. With WORKTERRA, we’ll be able to help you complete the entire candidate experience, from sourcing to employment.

Who is WORKTERRA?

WORKTERRA’s solutions help employers manage the employee lifecycle, including onboarding, benefits administration, wellness and compliance. These solutions are within a single configurable system that requires one login. WORKTERRA was founded 10 years ago, and today its system houses more than 600,000 employees.

“This acquisition is a defining moment because it enables us to step beyond recruitment and become an end-to-end human capital management firm,” says Matt Ferguson, CEO of CareerBuilder. “Working together, we will bring an unprecedented scope of innovation to market that will solve critical issues clients face in hiring, developing and managing employees.”

“We’re excited to become part of a company that is known for having a strong brand and superb technology and customer service,” says David Rhodes, CEO of WORKTERRA. “WORKTERRA’s and CareerBuilder’s solutions will perfectly complement one another and bring more options, efficiencies and value to our clients for both the pre-hire and post-hire side of business.”

In the coming weeks we’ll have more updates on what you can expect from CareerBuilder and WORKTERRA and how it can simplify your talent acquisition and HR efforts.

 

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