Penalities in ACA are real…Try $100.00 per day for non compliance!

Subject:
Did you know? $100/day ER Penalty for not giving EEs the Exchange Notices by
10/1

$100-A-Day Penalties: ACA Non-Compliance Can Be Expensive for Employers

“While a lot of employers are focused on the penalties associated with not
offering appropriate coverage (the $2,000 penalty) or not offering affordable
coverage (the $3,000 penalty), … PPACA has a $100 a day general
‘non-compliance’ penalty. This general penalty requires employers to correct
compliance failures within 30 days of discovery or self-report a $100 a day
penalty for failing to comply on IRS Form 8928 for each day the employer failed
to comply with a PPACA mandate…. The solution is to sit down with your plan
and go line by line, requirement by requirement, and make sure your plan does
not have any violations.” (Fox Rothschild LLP)

http://employeebenefits.foxrothschild.com/2013/08/articles/welfare-plans/100-a-day-penalties-ppaca-non-compliance-can-be-expensive/

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About rjoyner

Ric Joyner, CEBS, GBA, CFCI Customer Experience Officer Ric is a founder of eflexgroup.com a national web based TPA for Cafeteria, HRA, HSA, Transit, VEBA and COBRA plans. eflexgroup is a leader in self-service employee benefit systems. eflexgroup was the first TPA in the industry to go “online” in 1999 allowing employees to self-serve 24 hours per day. He has lead the industry with eflex by placing provable customer service statistics, live, on eflexgroup.com Ric is celebrating his 32nd year employee benefits. He helped create TPAs such as TASC and Employee Benefits Corporation in Madison WI. He was a licensed insurance agent for 29 years. The designations Mr. Joyner holds are; Certified Employee Benefits Specialist, Group Benefit Associate, Certified Flexible Compensation Instructor, board approved by ASPA to teach Cafeteria Plan regulations. Ric also has a bachelors of science in Information Technology and MBA (emphasis is project management) and graduated summa cum laude from Capella University with a 4.0. Ric helped found the National Association of Professional Benefit Administrators (NAPBA.org). NAPBA is dedicated to training administrators in best practices and grass roots lobbying. Ric has served in the past as the Wisconsin Association of Health Underwriters State President in 2003. Ric is a frequent speaker and article writer for prestigious associations such as NAHU.org, NAPBA.org, Wisconsin SHRM, Austin SHRM, PACE.org, International Foundation of Employee Benefits, Tampa Bay AHU, WI AHU, Florida AHU, Florida NAIFA and participates on the List Serves (compliance programs for Consumer Driven Products of NAHU and International Foundation of Employee Benefits)

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