Affordable Care Act
A recent Paycom press release stated that a business with 250 employees can be forced to pay $28,333 for not complying with the federal Affordable Care Act (ACA). Worse, that penalty can be assessed every month.
The Affordable Care Act (ACA) imposes a host of new regulations on businesses. Businesses are now responsible for tracking employee eligibility under the law, providing affordable health care options for eligible employees, and following specific protocols regarding state and federal subsidies. All this means that employers will be required to devote significant time and effort to ensure they’re meeting the new requirements. And the cost of getting it wrong is significant. Employers who are out of compliance face stiff penalties.
SharedHR can help you understand your technical and legal obligations. If you’d like assistance dealing with these new regulations, please call us at 800-886-9478.