The intent has been made clear that President Trump intends to repeal and replace the Affordable Care Act (ACA). The Executive Order signed in late January indicates that changes are coming, although it’s still unclear what those changes will mean for business in the future. What is clear is that ACA has not been repealed yet and with reporting deadlines quickly approaching, businesses must still show compliance, even if after the deadline. Making a good faith effort is better than no effort at all.
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There are plenty of headlines suggesting that the ACA is on its way out and the Executive Order signed by newly elected President Trump seemed to seal the fate of this legislation. However, the Executive Order only created more confusion and speculation about the future of the ACA. Developments since then have not helped mitigate confusion. It’s a confusing process for many employers who are certainly wondering whether or not it’s worth taking the time to capture necessary data and prepare the required forms for upcoming deadlines.
As suggested by Patrick Doolin, CEO of Integrity Data, the Executive Order did not repeal or replace the ACA or lead to any other changes. This means that the ACA legislation is fully intact and employers must continue to follow the applicable requirements or be at risk for incurring costly penalties for non-compliance. This strategy is a very important point for employers to consider because the costs for non-compliance can greatly outweigh the minimal amount of time and cost it takes to complete the forms and deliver them to employees and the IRS.
Employers Must Remain ACA Compliant, For Now
By Integrity Data,