The Business Roundtable has urged the Internal Revenue Service to reduce the paperwork companies will need to file to show Affordable Care Act compliance, saying planned reporting requirements are burdensome.
At the close of a comment period Friday on ACA employer reporting, the Business Roundtable—an association of more than 200 chief executive officers from major U.S. companies—told the IRS in a letter that businesses can show they provide health insurance that meets minimum value standards at a reasonable price to their employees without extensive documentation. Under the ACA provision known as the "employer mandate," companies with at least 50 full-time employees are required to offer affordable health insurance to their workers or risk fines after January 2015.
The letter--authored by Caesars Entertainment Corp. CEO Gary Loveman, the chairman of Business Roundtable's health and retirement committee--notes that the group's members understand the value of providing their employees with high-quality health insurance and already "have taken many complicated steps" to ensure their workers continue to have this coverage.