OneGroup’s On-Staff ACA Experts Help Protect Your Business
ACA is far-reaching and continually evolving legislation, which challenges businesses of every size. For those employers with 50 or more full-time employees, compliance is both critical and complicated. OneGroup is working with its clients to ensure that their benefits programs are in compliance, and helping them to plan for the future.
ACA May Significantly Impact a Company’s Strategies and Operations
At a recent educational seminar hosted by OneGroup for businesses most affected by ACA, we learned that business leaders were concerned by the legislation and compliance calendar. Further, they indicated that they were keenly interested in learning more about how current and future requirements of the ACA would affect their businesses. Equally important, they wanted a simple step-by-step process for getting started.
OneGroup’s 5-Step Approach to ACA Compliance
- OVERVIEW THE BASICS
OneGroup provides an easy-to-understand overview and the basic information you need to become informed.
- Employer and individual mandates
- Timing of key action items
- Exchanges: what they are and how they will work
We help you understand how ACA applies to your business.
- Applicable large-employer test
- Size impact overview
- PLAY-OR-PAY AND YOU
We explain this critical component of ACA and describe our testing services to accurately determine employer size.
- Minimum Value Test
- Affordability Test
OneGroup provides an overview of compliance requirements including:
- Required notices of Exchanges
- Summary of Benefits and Coverages (SBC)
- Determining full-time status and recordkeeping of variable hour employees
- ACA REPORTING
- Section 6055 of the IRS Code – To assist the IRS with enforcing the Individual Mandate
- Section 6056 of the IRS Code – To assist the IRS with enforcing the Employer Mandate and verifying whether premium tax credits made to individuals are accurate
- STRATEGIC PLAN
Once your personalized ACA overview is complete, and if you choose to engage OneGroup to provide more comprehensive analysis and planning, OneGroup will provide:
- In-depth analysis of your unique business situation
- Short-, medium- and long-term action plan
- Beneficial strategies including tracking of employee hours, business size determination and others