Supreme Court Rules In Favor of Subsidies
Last Thursday (June 25th) the Supreme Court approved federal subsidies for health insurance under the Affordable Care Act. So the result? The ACA and all the mandates that go with it are not going anywhere soon. This is forcing employers to ask themselves the hard hitting question, “Are we ready for the ACA mandate”?
Are Employers Really Ready for ACA?
The reality is that the majority of employers have not yet begun to implement a strategy to comply with the new ACA compliance requirements. With the first reports being due by January 2016, many employers are left scrambling for a solution. According to a recent survey roughly 85 percent of mid-sized employers do not have a solution in place that will allow them to submit the required data. With all of this stress pressing down on employers, who will they turn to for the answers? That’s right, they are looking to their Benefit brokers and Payroll providers.
Time is running out for ACA Employer Reporting!
Yes, you read that correctly. The demand for ACA reporting services are growing so quickly that large technology vendors are saying “no more” to new clients after the cutoff dates. The service providers below have announced their cutoff dates for this year:
- Equifax – August 2015
- Equifax e(fx) – July 31, 2015
- ADP National – Mid-July 2015
- ADP Major – June 17, 2015
If you are still looking for a solution for your 6056 reporting and filing needs, then you are clearly running out of time. So not only is the timeline for implementation diminishing, but the availability of quality vendors is also dwindling.
Are you concerned yet? You don’t have to be. We are still here to help. Let our ACA specialists assist you in determining the reporting solutions that are right for you.