Employee Benefit News July 22, 2024
In its 14th year of existence, the Affordable Care Act (ACA) is firmly established as an integral part of the U.S. healthcare system. Yet, many employers required to comply with the law find it a struggle to stay on top of its many intricacies.
Our research shows that nearly 70% of organizations find ACA compliance burdensome. The cost of non-compliance can be exorbitant, with some IRS penalties surpassing $1 million and larger organizations (500-plus employees) being at least six times more likely than smaller ones to be fined.
If you are the broker of record (BOR) for one of these organizations, the risk of non-compliance falls to you. Employers purchasing a health insurance policy in the ACA era...
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