Affordable Care Act information from Keystone Software

The Affordable Care Act (ACA), or health care law, contains benefits and responsibilities for employers. The size and structure of your workforce– small, large, or part of a group–helps determine which provisions apply to your company.

ACA Overview: View these two videos to introduce you to the ACA reporting requirements for employers:

Affordable Care Act: IRS Reporting for Employers 
Part 1/2

Affordable Care Act: IRS Reporting for Employers 
Part 2/2

Before you can determine ACA requirements for your company you will need to know the answers to these questions:

• Are you an “Applicable Large employer” (ALE) based on IRS standards?

• Are you reporting as a single EIN or part of an Aggregated ALE Group?

• Did you provide Minimal Essential Coverage in 2015?

• Did you offer a self-insured health care coverage plan in 2015?

Keystone recommends that you work with your accountant, CPA or tax professional to answer your ACA questions.

The following links are intended to help you locate specific ACA information.

Determining Applicable Large Employer (ALE) status

• What is an Applicable Large Employer (ALE), and how do I determine if my company is one?  Find the definition of an Applicable Large Employer and Employer Aggregation Rules.

• How do I calculate the number of Full-time equivalent employees? See the definitions of full-time employee and equivalent and helpful calculation examples.

• How do seasonal workers impact the number of Full-time equivalent employees? See the definition of seasonal workers and full-time exceptions.

Determining what health care coverage information to support

• As an ALE, what health coverage information am I required to support and report? Review this IRS brochure to learn basic information about what you should support and report for Form 1095-C and transmittal Form 1094-C for applicable large employers.

• As a self-insured employer, what health coverage information am I required to support and report? Refer to the section in this IRS Q&A document titled “Who is Required to Report.” You can also search the IRS.gov website for the 2015 forms instructions for Forms 1094-B and 1095-B or Forms 1094-C and 1095-C.

• What do I need to do to comply with ACA requirements? Review the link on the right side of this page titled How do I set up Sage 100 ERP (fromerly MAS 90 and MAS 200)to support ACA requirements?

Legal disclaimer: This information should not be construed as professional or legal advice. Keystone Software does not represent or guarantee that the information is accurate or applicable to your business needs. You should not act, or decide not to act, on the information without first seeking appropriate advice from an accounting or tax professional or an attorney licensed to practice in your jurisdiction