Products Partners Blogs Contact Let's talk OPEN ENROLLMENT FOR 2022 PLAN YEAR HAVE BEGUN Nov 13, 2021 The 2022 federal open enrollment period began last week and will continue until January 15, 2022. Consumers will be able to pick from a number of plans, as well as lower prices. According to a news release from the Centers for Medicare and Medicaid Services (CMS), there will be 213 participating insurers selling plans for the 2022 year. That's 32 more than last year. “Four out of five people will be able to get health insurance for $10 or less a month with the extra savings made available through the ARP,” according to the American Rescue Plan (ARP). According to CMS, premiums will drop by 3% for the 2022 plan year in the 33 states that run off the federal healthcare.gov platform. The Kaiser Family Foundation (KFF) notes that in 2022, Americans who obtain coverage through the federal marketplace will have a choice of approximately 83 qualified health plans, compared to an average of 46 plans in 2021. The Biden administration has committed $80 million in additional funding to ACA navigators to assist customers choose their healthcare for the 2022 plan year. Navigators assist consumers evaluate their healthcare alternatives, apply for Medicare and Medicaid, and qualify for ACA financial help, including Premium Tax Credits (PTC) and cost-sharing reductions. The administration has also launched one of the most extensive open-enrollment outreach initiatives ever as a means to assist customers with healthcare. The various changes implemented via the ARP regarding affordability and PTC eligibility are still in place for the 2022 plan year. Americans who make less than 150% of the Federal Poverty Level (FPL) can get silver-level health insurance for $0 per month under the ARP. Individuals who make more than 400% of the FPL may gain coverage through state and federal health exchanges for no more than 8.5 percent of their household income. It's too soon to tell whether these changes will be maintained after 2022, but the administration is making progress to make it permanent. Open enrollment begins last week following the record-breaking federal special enrollment period. It's expected to produce some of the highest enrollments under the ACA. Employers who do not offer adequate coverage to their full-time employees may run into issues with increased access to high-quality insurance through state and federal health exchanges. Employer Mandate non-compliance is motivated by PTCs, which might be tough for employers that don't provide sufficient coverage to their full-time workers. An ALE is a large employer under the ACA's Employer Mandate, which requires employers with 50 or more full-time employees and full-time equivalent employees to: Offer their full-time workers (and their dependents) at least 95% of total essential coverage based on the number of employees. Make certain that the coverage for the full-time employee is reasonable based on one of the IRS-approved methods for determining affordability. Failure to comply with these criteria could result in IRS penalty assessments under IRC Section 4980H. With so many PTCs now available and the IRS stepping up enforcement, employers should conduct an audit of their ACA compliance procedures right now to avoid IRS inquiries. Contact us to conduct an audit. Build and manage a better workforce with integrated HR solutions from ADP Marketplace partners like Points North. Newer Post > < Older Post Certified Payroll Reporting LEARN MORE ACA Reporting LEARN MORE Payroll Data Aggregation LEARN MORE Attendance Advisor LEARN MORE What to Consider When Applying for a Government Contract Did you know the US government spent more than $680 billion on contracts in fiscal 2020? This is the highest contractual spending by the federal government on record. Securing a government contract can have a tremendous impact on your business growth. In fact, the government can become the best clients you've ever had business with. Government contracts have many benefits. They range from good pay, reliable income, long contracts to high business value. However, securing a government contract is easier said then done. There are lots of regulations, procedures and rules dictating how to transact with the government. Your business must navigate through the complex bidding process and pass. Don't forget the stiff competition with many businesses seeking a healthy revenue stream. While there are many hurdles, it doesn't imply your business can't win the bid. But are there considerations to make when applying for a government contract? Keep reading to find out. There will be no additional extensions for ACA reporting in 2022 Employers should make sure they and their service providers are ready to give employees with health care reporting forms and submit them to the IRS on time, according to the IRS. Deadline extensions will not be granted for 2022. The ACA requires large applicable employers (ALEs) to submit reporting forms to the IRS and distribute them to workers. We'll find the right solution for you. We'll help you decide on the best solution for your company. Simply click the button below to fill out a form or just give us a call today. 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