Employers that may be considered “applicable large employers” – Those with 50 or more full-time workers, including full-time equivalent employees (see following definitions) – Should be taking steps to determine whether they fall within requirements of the Employer Shared Responsibility (RSR) provisions under the Patient Protection and Affordable Care Act (ACA, or “Obamacare”).
The provisions, effective Jan. 1, 2015, require look-back periods (measurement, stability and administrative) that require planning well ahead of the effective date in order to avoid potential penalties.
Some employee benefits and payroll specialists are taking the lead on assisting employers with ACA provisions, but CPA’s are also affected by the law’s tax provisions.
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Copyright © 2014. Reprinted from CAMICO’s IMPACT 101.