Mike Psenka Discusses ACA Impact on Bill Kutik’s Radio Show
Equifax Workforce Solutions’ SVP of Workforce Analytics, Mike Psenka, sat down with Bill Kutik to discuss the delay in ACA legislation and the actual impact this has on employers. The delay is specific to only the employer mandate provision of ACA, which will now take effect January 1, 2015.
The recently announced ACA delay is important in the sense that it gives employers much needed time to prepare and implement systems that can handle the complex eligibility reporting requirements. As stated in the official government release, “…Real-world testing of reporting systems in 2014 will contribute to a smoother transition to full implementation in 2015.”
The market overall is not prepared from both the employer’s and supplier’s perspective. This delay means that employers can become more proactive in their approach. But employers should not wait; those that have elected to use a 12-month measurement (or “look back”) period must begin tracking eligibility in October 2013 in order to determine who is eligible for the 2015 benefit plan year. In addition, the employer’s requirement to distribute notifications to all of their existing employees, new hires and upon eligibility change is also still required to begin this October.
- Impact of ACA delay on employers
- What the market must to do be prepared
- Employer’s anxiety around the fine/audit process
- Unintended consequences for employers and employees around ACA
If you’re looking for solutions to help your organization fully prepare for and deploy a compliant ACA strategy, click here to learn about our ACA Management Platform or reach out to our team of experts today.