Affordable Care Act rule on tracking of workers' coverage is costing employers time, money

[Omaha Steve]

http://www.livewellnebraska.com/obamacare/affordable-care-act-rule-on-tracking-of-workers-coverage-is/article_db80785f-30b6-50fc-a1a3-6400e4087ac9.html

Posted: Sunday, May 24, 2015 12:00 am
By Steve Jordon / World-Herald staff writer

Midlands employers, like their counterparts nationwide, are finding ways to meet a new federal rule that requires them to track each employee’s monthly health insurance status for a new tax document.

The information goes into Form 1095, and if your employer has 50 or more workers, most likely you’ll be getting one by Jan. 31, thanks to the Affordable Care Act.

Employers already have the information, including whether you buy insurance and how much of your paycheck goes for coverage. But there are time and expense involved in compiling the information into the forms the government requires.

How much time and expense?

FULL story at link.



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[orpupilofnature57]

1. They spend money to deduce the intention of my

every phone conversation, seems like they could deduce, my income .

[merrily]

2. Three words: Medicare for all.

[SickOfTheOnePct]

3. My guess

is that larger companies will outsource the reporting requirement and smaller companies will hire someone part time or full time to take it on.

As an IT professional, my first thought is how much of this is already held in various files? Find out where it's kept, and create or obtain a program that pulls it out and compiles it into the correct format for reporting.

[Freddie]

4. As a payroll/benefits admin,

We already have this info available, it's not that hard to compile. Right now the hardest thing is getting the SS#s of every dependent, since until fairly recently our insurance carrier only needed the subscribers info. So far no one has given me a hard time about it.
My boss whines about "all the hard work" these requirements are (I'm the one doing the work, natch) but if I tell her it's really no biggie, she'll suspect where my political sympathies are, and I'd rather not discuss that with her.

[SickOfTheOnePct]

5. Yep

In my previous job, we had to provide dependents' SSN in order to continue their coverage, but I can see where it might be a new thing to many companies.