Starting data consolidation now critical to meeting ACA deadlines

Reports of technological glitches on state and federal health care exchange Web sites for individuals could serve as a reminder to employers about the technological systems they will need to have in place to meet their own compliance with the Affordable Care Act (ACA). Though large employers received a one-year reprieve on reporting requirements and excise tax penalties for failure to offer affordable health care coverage to employees, 12 months may not be enough, practitioner Anne Phelps said during an October 3 EY webcast. This is really the first time in the history of employers providing benefits that they've seen this kind of data collection to be provided to both the Internal Revenue Service and to employees, said Phelps, a member of EY's Washington Council. Because the ACA allowed states to establish their own health care exchanges, each state has chosen a little bit of a different path, Phelps said.