5 Affordable Care Act Reporting Tips for SDVOSB

SDVOSB Should Comply with the ACA Requirements

The attempt to repeal the Affordable Care Act (ACA) has failed once again. Despite the promise of the administration to pursue resolving issues, a new legislation being introduced is uncertain. This is why an SDVOSB is still required to comply with the ACA.

1.    Know Which Employers are required to comply with the ACA

An SDVOSB who has more than 50 full-time or full-time equivalent employees must give benefits under the Affordable Care Act. The following formula should be used:

Workforce size = (Number of full-time equivalent employees per month of the previous year + Number of full-time equivalent employees per month of the previous year) / 12

2.    Find out the Type of Reporting Required by the ACA

An SDVOSB should accomplish Form 1095-C together with the 1094-C transmittal sheet. These forms will serve as confirmation that full-time and full-time equivalent workers receive minimum essential healthcare under the law. Form 1095-C indicates the type of healthcare given by a small business and period of coverage. On the other hand, Form 1094-C provides additional information about the SDVOSB, number of workers and 1095-C forms given. Those who file the forms electronically are given more time.

3.    Take Note of the Deadline for Filing the Forms

The deadline for submission of the forms is now earlier as compared to last year.

·       January 31, 2018 – provide copies of Form 1095 to the employees

·       February 28, 2018 – paper filing of Form 1095-C and Form 1094-C to the IRS

·       March 31, 2018 – electronic filing of Form 1095-C and Form 1094-C to the IRS

4.    Learn the Penalties for Failing to Meet ACA deadlines

Those who fail to meet the deadline or submit inaccurate information may incur penalties of up to USD 260 for each filing. The same penalty also applies to those who don’t give copies of the forms to employees or the IRS. A small business with more than 250 employees is required to file electronically.

5.    Understand Employer Shared Responsibility

The Employer Shared Responsibility provision requires an SDVOSB to explain key information about health coverage to the IRS. This includes verifying if the minimum essential coverage (MEC) is being met. Those who fail to comply must pay USD 2000-3000 for each employee not covered.

ARCHER JORDAN Helps Ensure Your Compliance with ACA Requirements

The above list is just an overview of the major requirements under the Affordable Care Act. There are other regulations an SDVOSB should comply with. Ask our team in ARCHER JORDAN today how our services can help you succeed in running your business.

3 handbook cover images.

For Government Contractors

Our Contract Compliance
Handbook Series will help ensure your company is fully compliant and positioned to win and secure more bids!


AD & D
Affordable Care Act
AK Prevailing Wage
AL Prevailing Wage
AR Prevailing Wage
AZ Prevailing Wage
CA Prevailing Wag
CA Prevailing Wage
CA Prevailing Wage 401k
Call Centers
CO Prevailing Wage
Compliance Tips
Critical Illness
CT Prevailing Wage
Davis Bacon Act
DE Prevailing Wage
Department of Labor
Disability Insurance
Employee Benefits
Employee Training
Employer Tips
Farm Labor Plan
Fixed Indemnity
FL Prevailing Wage
Fringe Benefits
GA Prevailing Wage
Government Contracting
Government Contractors
Health and Welfare Wrap
Healthcare Benefits
HI Prevailing Wage
Hospitality Benefits
Hourly Seasonal Workers
Hourly Workforce
Human Resources
ID Prevailing Wage
IL Prevailing Wage
IN Prevailing Wage
IO Prevailing Wage
KS Prevailing Wage
KY Prevailing Wage
LA Prevailing Wage
Limited Medical
MA Prevailing Wage
Major Medical Insurance
McNamara-O’Hara Act
MD Prevailing Wage
ME Prevailing Wage
MI Prevailing Wage
MN Prevailing Wage
MO Prevailing Wage
MS Prevailing Wage
MT Prevailing Wage
NC Prevailing Wage
ND Prevailing Wage
NE Prevailing Wage
NH Prevailing Wage
NJ Prevailing Wage
NM Prevailing Wage
NSRMCA Members
NV Prevailing Wage
NY prevailing wage
OH Prevailing Wage
OK Prevailing Wage
OR Prevailing Wage
PA Prevailing Wage
Part Time Employees
Podcast Guest Appearances
Prevailing Wage
Prevailing Wage Workers
Restaurant Group Benefits
Retirement Plans
RI Prevailing Wage
SC Prevailing Wage
SCA Audits
SCA Compliance
SD Prevailing Wage
Seasonal Workers
Service Contract Act
Small Business
State Prevailing Wage
SUB Plan
Supplemental Benefits
Supplemental Unemployment
Third Party Administrator
TN Prevailing Wage
Trust Services
TX prevailing wage
UT Prevailing Wage
VA Prevailing Wage
Violations – SCA
Voluntary Benefits
WA Prevailing Wage
WI Prevailing Wage
Workplace Health
Workplace Safety
WV Prevailing Wage
WY Prevailing Wage