Listed below are 3 recent trends and strategies that the Government is using to save Obamacare.
- The IRS announced last week they will Target 20 Million Americans that are uninsured by writing letters informing them of their possible penalties if they are not covered.
- The Government is finding alternative ways (Judgement Fund) to fund the Risk Corridor payments which were used to protect insurance companies against massive losses for offering coverage to high-risk participants. PPACA collected 2.5 Billion in 2015, however, all of this money is gone. In addition, many insurers are now suing the Federal Government for not receiving the money they were promised.
- Good Faith Language for reporting is gone for 2016. Imposing penalties for employers not filing the 1094/1095 forms on-time and reporting errors are subject to penalties and fines. It's important the employers report correctly and on-time for 2016.
ACA TRACK's is stand-alone proprietary software designed to help employers meet the requirements of the Affordable Care Act and IRS reporting. ACA TRACK is dedicated solely to employer compliance and reporting. This focus has made ACA TRACK an industry leader in variable hour tracking and 1094 & 1095 IRS reporting.