Employers may be receiving an unwanted letter in the mail, if they haven’t already. The final stage of the 2015 Affordable Care Act tracking and reporting process has hit employers in the form of penalty letters from the IRS.
From the inception of the ACA, there’s been a wave of confusion in reporting with employers not necessarily understanding what they needed to do, or not taking it as seriously as they should have, said Arthur Tacchino, principal and the chief innovation officer at SyncStream Solutions, an information technology company based in Baton Rouge, Louisiana. What’s added to that confusion is that it took so long for the penalties to be implemented, he added.