ACA Reporting Requirements
Definition:
ACA (which stands for Affordable Care Act) reporting requirements refer to healthcare cover documents that employers are required to file each year, if healthcare is part of their employee compensation package.
However not all employers are required to file for it, as this only applies for organizations that have 50 or more full- time employees. The filing for ACA requires employers to provide one of the 2 forms; they can provide forms 1095-B or 1095-C, by paper or electronically; these forms usually require the employee’s tax identification number, their employer ID number (or EIN), month of coverage and address.
Part of speech:
Noun
Use in a sentence:
Employers must file for ACA reporting requirements only when they have more than 50 full time employees.