This page contains links to websites that contain useful tools to help employers to comply with and understand various Affordable Care Act requirements. By providing these resources in one central location, CBCH does not intend to imply endorsement of any particular organization or resource. We are simply providing useful information to assist with ACA compliance strategies. If you have technical questions about a specific situation or circumstance, we advise that you consult an experienced benefits attorney.
- Employers must provide written notice informing employees about the state’s Exchange, including a description of how the employee may contact the Exchange for assistance. Here is a sample Employee Notice.
- Employers are required to provide employees with a standard Summary of Benefits and Coverage (SBC) form explaining what their plan covers and what it costs.
- In order for employers to avoid an employer shared responsibility (“pay or play”) penalty payment, the lowest-cost plan offered by the company must provide minimum value. Minimum value means that the plan must cover at least 60% of the costs for services that the plan covers (actuarial value). Please download the ACA Minimum Value Calculator spreadsheet, created by CMS, which allows your plan administrator to calculate your company’s minimum value.
- Employers must notify employees that if they purchase a health plan through the Exchange, the employee may lose the employer’s contribution to health benefits offered by the employer.
- Employers are required to report the cost of coverage under an employer-sponsored group health plan in box 12 on W-2 forms. This reporting is for informational purposes only and will provide employees useful and comparable consumer information on the cost of their coverage. Keep in mind that this does not mean that the coverage is taxable.
- The ACA imposes an excise tax on “high cost” health plans starting in 2018. Most observers, however, agree that health plans – especially those with modestly generous benefits – will hit the thresholds for paying the tax, if not by 2018, then fairly shortly thereafter. To determine your potential exposure to this tax liability, The Alliance has created a free Cadillac Tax Calculator for Employers.