In 2022, there is absolutely no reason for an Applicable Large Employer (ALE) to face penalties under the Employer Shared Responsibility Payment (ESRP) provision of the Affordable Care Act. With the premium tax credits being very favorable to employees the risk of penalty under 4980H(b) is high for ALE’s that don’t have an affordable minimum value plan offering in place.
First Staff Benefits has the solution. The Individual Coverage Health Reimbursement Arrangement or ICHRA. This is the “next generation” of ACA compliance and provides protection from both benefit offering based penalties in one single plan. There is no employer claims risk and absolutely no participation requirements.
Download our “Staying out of the ACA penalty box in 2022” brochure and then reach out for details on how easy this plan is to implement. The best part is that you can do this now and don’t need to wait until your plan renewal!