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Other Considerations Related to the ACA

The implementation of the ACA has a number of business implications, but perhaps one of the biggest challenges involves the timely submission of Considerationcorporate tax forms. Tax experts within each company may be responsible for interpreting how this new law affects the finances and resources of the company and ensuring accurate reporting. There are a great number of qualifications companies must be aware of in order to offer health care coverage to their employees, and it could be up to the tax experts to identify these. The tax department may have to work closely with the finance, legal, HR and payroll departments to help ensure the company’s approach to complying with the ACA is holistic.

 In addition to tax help, the legal department will direct and define a company’s compliance with ACA requirements. The legal department needs to be cognizant of how the changes embedded within this law affect the organization’s brand, finances, employees and overall function as a whole.

Differences in the federal and state Health Insurance Marketplaces may present challenges for large companies with employees in multiple states.  Employers with a unionized staff also must consider other specific legal details leading up to this implementation because union employees can be subject to different rules or exceptions under the ACA and under the terms of the applicable Collective Bargaining Agreement.

To learn more about how this new law will affect you and your business, read “ACA Compliance – Whose Job is it, Anyway?

Learn More about ADP Health Compliance


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