Affordable Care Act (ACA) Important Recordkeeping Information:
Employers subject to the Affordable Care Act (ACA) requirements (employers with 50 or more full-time and full-time equivalent (FTE) employees) should be maintaining a secured monthly compliance binder or shared file of all of their records relating to the ACA requirements in the event of an audit. In doing so, please keep in mind that all sensitive employee data needs to be safely secured at all times. Employers need to ensure that they maintain and can retrieve the following information:
- Records of steps taken to comply with ACA requirements, such as plan participation data and copies of communications with plan participants
- Records of procedures or plan amendments adopted for ACA compliance
- Measurement policies
- Tracking data/proof of regulations applied
- Contracts or agreements with service providers
- Copies of notices provided
- Hours data
If you would like more information on the services that USA Payroll offers to assist clients in complying with the ACA requirements, please contact Andy Gray at 585-427-2010.