How Sage 100 and 100c Can Help You with ACA Compliance
Join us on September 13 at 11:30 AM PDT for a webinar introducing Sage 100 2016 enhancements that can help you with ACA compliance. More than 20 new features will help you stay ACA compliant for tax year 2016 and beyond.
The Affordable Care Act brought increased health care costs to many employers, and the impact to budgets will grow even more in the near future.
Effective 2015, employers with 50 or more full-time staff (including a combination of full-time workers and part-timers that add up to 50 FTEs) were required to maintain records on employee and dependent health insurance coverage month by month, helping the government determine who is uninsured and subject to a fine.
Employers may also be called upon to file additional forms with thei annual returns, share the fees incumbent on the uninsured or underinsured (levied on non-compliant “applicable large employers” or ALEs), make an employee shared responsibility payment if at least one full-time employee received a premium tax credit because the health insurance coverage you offered exceeded 9.5% of that employee’s household income.
And let’s not forget the “Cadillac tax,” due to kick in 2020. This nondeductible 40% excise tax will affect plans that exceed statutory cost thresholds ($10,200 for individuals and $27,500 for families), regardless of whether the employer or employee bears the premium payments.
So learn how to leverage Sage 100 2016 enhancements to stay ACA compliant, enter data more easily, retain ACA records, print or customize reports, use ACA data in your CRM solution to complete required tax forms and more. And get more information about the premium package, Sage 100c, which includes all 2016 enhancements in a modern interface.