How Much Could ACA ReportingHow Much Could ACA ReportingHow Much Could ACA Reporting

Actually Cost?Actually Cost?Actually Cost?How Much Could ACA Reporting

Actually Cost?

To truly be prepared for ACA reporting, it’s important to know the law, the regulations, and what rules apply to business owners.

Start reading on January 1st and you’ll wrap up on August 25th (assuming you don’t sleep and the rules don’t change).

44 Million

Related Rules for Businesses as Filed in the Federal Register

Get comfy — you’re reading for two days straight.

384,007

Patient Protectionand Affordable Care Act

Words Words

How Much Could ACA Reporting Actually Cost? http://bit.ly/payx-esr

Know the RulesKnow the Rules

Before You BeginBefore You BeginIt’s probably a good idea to read the instructions, right?

Forms 1094-C & 1095-C

InstructionsThe Declaration

of IndependenceThe United States

ConstitutionHamlet

Prince of Denmark

12,8444,501 31,9031,344WordsWords Words Words

How Much Could ACA Reporting Actually Cost? http://bit.ly/payx-esr

How Much Could ACA Reporting Actually Cost? http://bit.ly/payx-esr

You know the rules? Great! Time to begin — all you need is...

One (or more) Forms 1094-C including an Authoritative Transmittal, to

know whether you need to file multiple Forms

1094-C, and to include your monthly ALE

member information and any Aggregated

ALE Group information, if applicable.

A Form 1095-C (or a substitute form) for

each employee who

worked full-time for any

month of the calendar

year and any part-time

employee enrolled in a

self-insured plan.

A lot of data, includinghours-worked info, whether or not insurance

was offered, affordable, and met minimum

value and coverage requirements, for each

full-time (or full-time equivalent) employee,

and their dependents each month. Complete

requirements are in the instructions (but

you already read those, right?).

Completing the FormsCompleting the Forms

How Much Could ACA Reporting Actually Cost? http://bit.ly/123456789How Much Could ACA Reporting Actually Cost? http://bit.ly/payx-esr

You can’t put a price tag on this kind of thing, can you? Let’s say you have 75 FTEs. Here’s an estimate of where your time (or money) could go each year.

How Much is Your Time Worth?How Much is Your Time Worth?

The MinimumYou read the instructions and

kept careful track of the

required data each month.

The OutsourcerYou elect to pay your accounting

professional or financial advisor

(assuming they have access to the

applicable data, of course).

The In-house ExpertYou read every word of every regula-

tion and compile all the necessary data

each month for the entire year.

$10,42879 HRS @ $132/HR**=

peryear

$7,520160 HRS @ $47/HR*=

peryear

$275,3265,858 HRS @ $47/HR*=

peryear

http://bit.ly/payx-esr

Paychex can help. For more information, visit:

The information contained above is not tax or legal advice. These issues are complex and applicability depends on individual circumstances. Businesses should consult their benefits advisor, tax professional, or legal counsel before taking action on any of the items identified above. Times listed are estimates for informational purposes only; actual time spent may vary on an individual basis. Word counts based on available documentation as of December 2014 and may vary over time (except for those historical documents referenced and Hamlet, which doth not change).

* Based on median owner/operator salary as reported by PayScale.com, September 2014. http://bit.ly/1r37EtZ** Median of average hourly billing rates, 2014 MAP Survey, as reported by Journal of Accountancy, January 2015.

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