Top ACA Compliance Mistakes to Avoid in 2024

 


As the 2024 calendar year’s open enrollment period swiftly approaches, it is imperative for organizations to focus on ensuring compliance with the Affordable Care Act (ACA) in order to guarantee that their procedures for managing health plans are well-executed.

Despite nearly a decade of ACA reporting, organizations still tend to make errors in Affordable Care Act compliance, particularly in relation to the ACA’s Employer Mandate. This mandate dictates that employers with 50 or more full-time or full-time-equivalent employees must furnish Minimum Essential Coverage (MEC) that also meets Minimum Value (MV) to at least 95% of their full-time workforce and their dependents.

For businesses of all sizes, navigating the complexities of the ACA’s Employer Mandate can be a formidable task. Making mistakes in ACA compliance can lead to substantial financial penalties from the IRS, such as receiving Letter 226J.

In this article, we spotlight the critical blunders that organizations commonly commit in their efforts towards Affordable Care Act compliance, and we provide recommendations for avoiding them.

https://www.allzonems.com/top-aca-compliance-mistakes-to-avoid-in-2024/

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