ACA Compliance

The FH Insurance Total Benefits Team will support you in ensuring that your benefits are ACA compliant and that you comply with all benefits deadlines related to the Affordable Care Act.

How can Your FH Insurance Total Benefits Team help?

ACA Deadline Support

Some of the key compliance definitions under the ACA include:

Employer Mandate

The Employer Shared Responsibility provisions (employer mandate) requires large employers with 50 or more full-time employees to offer affordable health insurance coverage to their full-time employees and their dependents, starting from January 1, 2015. Please note that these are general guidelines, and specific rules and regulations can change. It's advisable to consult with a tax or legal professional to ensure compliance with the ACA.

Individual mandate

The individual mandate requires most individuals to maintain health insurance coverage or pay a penalty, starting from January 1, 2014. Although there currently is no penalty for Colorado residents, the FH Insurance Team can also help individuals find coverage. Health Insurance Marketplace (exchanges) - established for individuals to purchase insurance, with open enrollment starting October 1st of each year for coverage starting January 1st of the following year.

Helpful ACA Definitions

The Affordable Care Act (ACA) is a comprehensive healthcare reform legislation that was enacted in 2010. It aims to improve access to healthcare and reduce costs by introducing various mandates and regulations.

Coverage is considered affordable if the employee’s required contribution for single coverage does not exceed 9.12% of their household income for 2023.

Refers to the minimum level of health insurance coverage an individual must have to comply with the individual mandate.

An employer that employed an average of at least 50 full-time employees (including full-time equivalent employees) on business days during the preceding calendar year.

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