ACA Roles and Responsibilities

Benefitbay Responsibilities:

Benefitbay shall be responsible for preparing all documentation related to the Affordable Care Act (ACA) in accordance with applicable law, based solely on the information provided by the Employer. Benefitbay will not modify, manipulate, or adjust any codes or data for the purpose of portraying the Employer as compliant if such compliance does not exist. Benefitbay will partner with Equifax to file ACA forms with the IRS on behalf of employers enrolled in our services at the time of contracting, following the employer’s review and verification of all documentation.

Agent Responsibilities:

The Agent will be responsible for developing a contribution model that aligns with the company’s goals while ensuring coverage remains affordable. Where applicable, the Agent will work collaboratively with the client to ensure they are aware of any potential penalties that may arise if affordable coverage is not offered. The Agent will also need to ensure the employer is informed of any affordability issues that may arise due to the addition of new hires or changes in employee compensation.

Employer Responsibilities:

The Employer shall be responsible for reviewing all ACA documentation prepared by benefitbay in a timely manner and for verifying the accuracy, completeness, and compliance of such documentation. The Employer shall execute and sign all required forms, filings, and submissions as applicable. Furthermore, the Employer is responsible for promptly and accurately inputting all new hire information, eligibility changes, and terminations into the benefitbay platform to ensure proper and timely ACA reporting and filing. The Employer shall be responsible for responding to any letters, correspondence, or notifications from the IRS, including, but not limited to, preparing documentation for response.

Mid-Year Employer Responsibilities:

Along with the above-listed Employer Responsibilities, employer groups that join benefitbay mid-year and sign up for our ACA services during contract execution will be required to provide the following within 30 days after their ICHRA coverage effective date:

• ACA data and codes for all current and terminated employees for the current plan year prior to the ICHRA effective date.

• All data must be submitted using our designated template and formatting—no exceptions.