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Articles

Potential ACA Penalties: An Infographic

October 10, 2016 Robert Sheen Affordable Care Act, Penalties, Reporting
Potential ACA Penalties: An Infographic

Are you aware of the myriad of possible unnecessary penalties that can occur with violations of the Affordable Care Act? By now you’ve been informed of various possibilities, but they are laid out below in one infographic.

The reasons, of course, vary: lack of minimum essential coverage
for employees, delayed information reporting, lack of affordable healthcare offered to workers, and failure to comply with waiting period limitations for coverage.But as both large and small businesses that have paid penalties can attest, the expense of mistakes can lead to hundreds of thousands of dollars; even over a million.

With 2015 filings, the margins of error were great as the ACA still left gaps in information. However, with 2016 filings headed our way, penalties are an unnecessary evil that can be prevented. Check out the infographic below for information and key dates on penalties and the price that they come with.

PotentialPenaltiesoftheACA4

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

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Robert Sheen

Robert Sheen

Robert Sheen, Esq., is editor-in-chief of The ACA Times. He also is founder, president and CEO of Trusaic.

Robert Sheen is Founder and President of Trusaic, Inc. Robert is a graduate of the University of Southern California, in Business Administration with an emphasis in International Finance. He earned his Juris Doctor from Loyola Law School, Los Angeles, concentrating in Tax Law.

View more by Robert Sheen

Related tags to article

Affordable Care ActHealth Care CoverageMinimum Essential CoveragePenaltiesReports
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