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Home ACA Compliance ACA Looks Strong Heading into 2022 Open Enrollment

ACA Looks Strong Heading into 2022 Open Enrollment

2 minute read
by Robert Sheen

The ACA is receiving some of the highest approval ratings since it was first signed into law in 2010.

According to a June poll from the Kaiser Family Foundation (KFF), 53% of American adults are in favor of the ACA and only 35% find the law unfavorable. The survey asked respondents, “As you may know, a health reform bill was signed into law in 2010. Given what you know about the health reform law, do you have a generally favorable or generally unfavorable opinion of it?”

The KFF poll includes all-time metrics and when viewing the data over the last 11 years, it’s clear that over that time the approval ratings have steadily increased and the unfavorable ratings have decreased. 

The healthcare law is gearing up for a highly anticipated 2022 annual open enrollment period. For the first time in four years, the ACA will have more resources for promoting the limited-time opportunity to sign up for healthcare.

For example, the Biden administration will be awarding an additional $80 million to 60 navigator organizations to facilitate the training of 1,500 navigators. ACA navigators are responsible for assisting individuals with the enrollment of healthcare via ACA health exchanges. Navigators also help individuals obtain premium subsidies via cost-sharing reductions and Premium Tax Credits. 

The 2022 open enrollment period will also be extended by 30 days, providing more time for Americans to obtain coverage. And with more health carriers expanding in 2022, greater ACA enrollment participation figures abound. 

Coming on the heels of the historic federal special enrolment period where nearly 3 million Americans enrolled in ACA coverage as a result of the COVID-19 pandemic, it will be interesting to see what’s in store for the ACA in 2022.

With a new lawsuit questioning the healthcare’s free preventive care services, and the Biden administration making 2021 a banner year for strengthening the ACA, the future will no doubt keep things exciting.

One thing is for certain though, the ACA’s Employer Mandate requirements will remain and continue to grow in complexity.

Under the ACA’s Employer Mandate, employers with 50 or more full-time employees and full-time equivalent employees, known as Applicable Large Employers (ALEs) must:

  • Offer Minimum Essential Coverage (MEC) to at least 95% of their full-time employees (and their dependents) whereby such coverage meets Minimum Value (MV); and 
  • Ensure that the coverage for the full-time employee is affordable based on one of the IRS-approved methods for calculating affordability.

Employers that do not meet the aforementioned requirements can be subject to 4980H penalties via Letter 226J. The IRS is currently issuing these penalties for the 2018 tax year and is now requiring employers to prove ACA affordability to substantiate that they should not receive a Letter 226J penalty.

If you need assistance complying with the ACA’s Employer Mandate, contact us to learn about our ACA Complete service. 

Organizations that need assistance complying with the ACA’s Employer Mandate this year should download the Employer’s Guide to Coding ACA Form 1095-C.

We’re committed to helping companies reduce risk, avoid penalties, and achieve 100% ACA compliance. For questions about the ACA contact us here.

Summary
ACA Looks Strong Heading into 2022 Open Enrollment
Article Name
ACA Looks Strong Heading into 2022 Open Enrollment
Description
The ACA is receiving some of the highest approval ratings since it was first signed into law in 2010.
Author
Publisher Name
The ACA Times
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Short URL of this page: https://acatimes.com/szw
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