Compliance

With reporting requirements soaring, brokers are turning to their own regulatory division to help clients, says Richard Asensio, director of compliance at Burnham Benefits.

ACA reporting requirements have brought increased scrutiny of employer-sponsored healthcare plans and the government is largely expected to respond to red flags through audits.

The Department has stepped up employer compliance checks, for which brokers should be prepared, according to Zynia CEO Julie Hulsey.

Bill Kite and D&S Agency are coming up with creative ways employers can meet health care reform requirements.

Chris Schutt of Digital Benefit Advisors says ACA compliance requirements present one of the biggest challenges for clients.

It is not unheard of for violations to cost a company millions of dollars plus attorney’s fees, one expert cautions.

It is not unheard of for violations to cost a company millions of dollars plus attorney’s fees. An employer could also end up paying for their ex-employees’ health coverage if premiums are collected improperly.

Employer clients that have yet to start preparing for the proposed changes are already falling behind, lawyer Tammy McCutchen said during SHRM’s legislative conference.

Companies that have yet to start preparing for the DOL’s proposed changes are already falling behind, said lawyer Tammy McCutchen during SHRM’s legislative conference in Washington, D.C.

Large employers are accustomed to intricate benefit rules, including those pertaining to the shared responsibilities of related businesses, but the ACA now requires individualized rather than consolidated reporting.