Newly inaugurated President Donald Trump wasted no time getting to work on one of his major campaign promises. Within hours of taking office, Trump signed an executive order designed to start the wheels of dismantling the Affordable Care Act (ACA) in motion. While the executive order did not do much to change the immediate impact of ACA compliance for 2017, it clearly showed the president’s commitment to completely dismantling the legislation within the next couple of months. So where does that leave businesses in their attempts to maintain ACA compliance?
The difficulty for businesses and payroll providers can be encapsulated in one word: uncertainty. Even as the first of the ACA’s compliance deadlines is fast approaching, no one really knows what Congress has in store for repealing and replacing former President Barack Obama’s signature legislation.
Making matters worse are signals suggesting Congress does not know what it wants to do about the ACA. They certainly don’t want to backtrack on their campaign promises, especially since they’ve been talking about repealing and replacing the ACA for years, but they also know there is a risk of coming up with a replacement plan that could result in millions of Americans being once again uninsured. It is a political minefield, to say the least.
Employers Need to Know What to Do
Political landmines aside, America’s employers need to know what to do this year. They have to report on how they maintained ACA compliance in 2016, and they have to make plans for continuing that compliance in 2017. The last thing employers need is more uncertainty that could ultimately lead to yet more confusion.
BenefitMall, a Dallas-based payroll provider that also offers ACA compliance services, recommends that employers stay the course for now. In other words, the best strategy is to assume nothing will change in 2017. Continue the same compliance efforts that have been in place all along under the assumption that any genuine repeal and replacement will take years to implement once signed into law. If compliance requirements are removed in 2017, it can be considered a bonus.
The fact remains that the ACA is still the law of the land as of the time this article was written. So companies should pay attention to 1095 filing deadlines just as they would have if Mrs. Clinton had won the White House. Companies should continue offering their employees appropriate health insurance coverage that qualifies under the law.
Enlist the Help of a Payroll Provider
Whether the ACA is fully repealed in the next few months are not, providing employees good health insurance benefits will remain as a mainstay of American business. That will not change regardless of what Congress and the new administration decide to do. Therefore, companies that are struggling with ACA compliance now may want to seriously consider enlisting the help of a payroll provider like BenefitMall.
Payroll itself is already a complicated endeavor that only stands to get more complicated as time marches on. It makes no sense to add the additional burdens associated with health insurance benefits to an already difficult HR environment. Perhaps it is better for companies still managing things on their own to look for an outsourcing solution.
BenefitMall explains that not every payroll provider offers benefits administration that includes health insurance. Visit: Affordable Care Act (ACA) Compliance | BenefitMall – Companies who hope to get help with their benefits administration should look for a provider that offers all-inclusive service covering everything from payroll to health insurance to workers’ compensation and retirement plans. An all-inclusive service seems to be the most prudent way to move forward in this era of uncertainty.