Craig Hasday was quoted in a November 15, 2017 Society for Human Resource Management (SHRM) article about the onset of Affordable Care Act (ACA) penalty letter mailings for applicable large employers (ALEs) considered as not offering affordable coverage to full-time employees and their dependent children in the 2015 calendar year. Craig says,
“2015 was a phase-in year and an applicable large employer [was defined as having] 100 or more full-time employees,” as opposed to 50 or more. He also mentions for 2015, ALEs were “required to offer minimum essential coverage which also met the minimum value standard to at least 70 percent of full-time employees and their eligible dependents,” a figure that climbed to 95 percent the following year.
If you have received a Letter 226J, Frenkel has a team of experts to help you make sense of your penalty letter and craft a response to the IRS. Employers should file immediately for a 30-day extension upon receipt of a notice. Learn more about Letter 226J support here.
Contact Brian Hasday at firstname.lastname@example.org or your Frenkel account executive for assistance.