Affordable Care Act regulations

[taxea]

Your responsibility is to report from the 1095's. Let the insurance companies advise on the ACA issues or have your client visit Healthcare.com and use the employer coverage tool and estimator tool.

[TAXNJ]

Insurance & expertise

Thank you.

I am just wondering. Is it our job, as an accountant, to make sure the health insurance plan of our clients fulfill all the requirements of the ACA, ERISA, etc? We are not insurance professionals after all. Because of the steep ACA penalty (like $100 a day?) and the ambiguous ACA regulations which open to different interpretations, I am thinking we are throwing ourselves into fire by advising our clients what to do and what not to do about their company health insurance policy. In case something is interpreted incorrectly and they receive a thousands of dollars penalty bill because of it, I am pretty sure they will try to hold us responsible.

Does anyone have the same worry and how do you plan to deal with it?

Don't worry.
If beyond your level of expertise - don't advise. If comfortable make sure your practice has malpractice insurance.

[Questionguy101]

ACA, I don't think so.

However, it probably is discrimination under ERISA. I don't know much about ERISA, but it would seem discriminatory to me.

Thank you.

I am just wondering. Is it our job, as an accountant, to make sure the health insurance plan of our clients fulfill all the requirements of the ACA, ERISA, etc? We are not insurance professionals after all. Because of the steep ACA penalty (like $100 a day?) and the ambiguous ACA regulations which open to different interpretations, I am thinking we are throwing ourselves into fire by advising our clients what to do and what not to do about their company health insurance policy. In case something is interpreted incorrectly and they receive a thousands of dollars penalty bill because of it, I am pretty sure they will try to hold us responsible.

Does anyone have the same worry and how do you plan to deal with it?

[TaxGuyBill]

ACA, I don't think so.

However, it probably is discrimination under ERISA. I don't know much about ERISA, but it would seem discriminatory to me.

[Questionguy101]

There are 5 employees on payroll of a S-corp, 3 of them are full-time employees. The owner is one of the 3 full-time employees.

The S-Corp has health insurance coverage for the 3 full-time employees only. One of them (not the owner) is of older age, so her premiums are much higher than the other two.

Because of her higher premiums, the S-Corp has an agreement with the older employee that she pays for a portion of the premiums. And her portion of payment is being taken out pre-tax from her paychecks.

Are there any potential violation of the ACA regulations?