Understanding the Affordable Care Act
Companies that employ 50 or more full-time equivalent employees are defined as an Applicable Large Employer (ALE). The employer mandate requires all ALEs to offer minimum essential coverage that is both affordable and provides minimum value or face a penalty called the Assessable Payment (play or pay). This coverage must be offered to all full-time (FT, defined by total hours of service) employees and is determined by using either a monthly or look-back measurement period.
Since the inception of the Employer Mandate, CTR has prided itself as ACA Compliance experts. We provide the tools to assist employers with determining who is full-time and whether their plan is affordable AND we provide knowledgeable staff to assist our clients with evaluating their ACA Compliance. At CTR, we knew that the complex rules of the ACA would be challenging for employers. As a result, the CTR team has truly stepped up to the plate in assisting clients navigate the complex rules of ACA.
CTR provides the following ACA Compliance Tools:
- Reports for Determining whether you have over 50 Full-Time Equivalent Employees
- Reports for determining which employees are full-time and should be offered coverage
- Reports for Determining whether your medical plan is affordable and compliant with the ACA
- Automated 1095-C and 1094-C ACA Reporting
Contact CTR for isolved Implementation and Support
Looking to learn a little more about isolved and how it can totally revolutionize your approach to HR? Contact us and we’ll get you in touch with one of our CTR specialists to help you discover how isolved can answer all your questions.