Affordable Care Act (ACA) reporting is complex — especially when accounting for changes to this year’s filing requirements and the uncertainty of a new presidential administration. Though ACA regulations may face future modifications, you still need to be ready for reporting in 2016 and 2017.
Proper preparation and the right tools are key to a successful reporting season. But when errors do occur, the transmittal process can seem trivial compared to managing correction issues. It is imperative for you to know how to handle replacements and corrections to eliminate your risk of incurring penalties. In this webcast, John Kreger, Ray Littlefield and Gerry Nelligan of Sovos Comliance will discuss the easiest methods to do so.
During this webcast you will learn:
- The difference between corrections and replacements.
- When to file a correction versus a replacement.
- What is the most likely scenario for causing an error – and how to handle it.
- What the solicitation process looks like.
- How and why to file corrections in a good-faith year.
- What the penalties are.