Compliance Alert: ACA OVERVIEW – 2020 Compliance Checklist

Compliance Alert: ACA Overview - Compliance Checklist
Compliance Alert: ACA Overview - Compliance Checklist

OVERVIEW

The Affordable Care Act (ACA) has made a number of significant changes to group health plans since the law was enacted in 2010. Many of these key reforms became effective in 2014 and 2015, including health plan design changes, increased wellness program incentives and the employer shared responsibility penalties.

Certain changes to some ACA requirements take effect in 2020 for employers sponsoring group health plans, such as increased dollar limits. To prepare for 2020, employers should review upcoming requirements and develop a compliance strategy.

This ACA Overview provides an ACA compliance checklist for 2020. Please contact Apex Benefits for assistance or if you have questions about changes that were required in previous years.

 

HIGHLIGHTS

Changes for 2020

The following percentages and dollar amounts have changed for 2020:

  • Cost-sharing limits
  • Coverage affordability percentages
  • Maximum penalties for ACA reporting violations
  • Dollar amounts for calculating employer shared responsibility penalties

Expected Changes for 2020

Other updated amounts have not yet been announced, but may change for 2020, including:

  • Health flexible spending account (FSA) salary contribution limits

 

LINKS AND RESOURCES

 

Source: © 2019 Zywave, Inc.

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