Affordable Care Act: 2023 Compliance Checklist

The Affordable Care Act (ACA) made a number of significant reforms to group health plan coverage when it was enacted in 2010. Since then, changes have been made to various ACA requirements that employers should be aware of. These changes include annual cost-of-living increases to certain ACA dollar limits, extensions to ACA reporting deadlines and updates to preventive care coverage guidelines.

Changes to some ACA requirements will take effect in 2023 for employers sponsoring group health plans. To prepare for 2023, employers should review these requirements and develop a compliance strategy. Employers should ensure that their health plan documents, including the summary of benefits and coverage (SBC), are updated to reflect any new plan limits and that up-to-date information is communicated to employees at open enrollment time.

This ACA Overview provides an ACA compliance checklist for 2023. Please contact Horst Insurance for assistance or if you have questions about changes that were required in previous years.

Plan Design Changes

The following plan design requirements have changed for 2023:

  • Limits on cost sharing for essential health benefits
  • Health FSA contribution limits
  • Coverage affordability percentages under the employer shared responsibility rules
  • Dollar amounts for calculating employer shared responsibility penalties

Reporting Deadlines

The following deadlines apply for reporting under Sections 6055 and 6056:

  • 28, 2023: Paper IRS returns for 2022 are due by this date.
  • March 2, 2023: Individual statements for 2022 must be furnished by this date.
  • March 31, 2023: Electronic IRS returns for 2022 must be filed by this date.

Links and Resources

  • Department of Health and Human Services’ (HHS) guidance established the cost-sharing limits for 2023.
  • IRS Proc. 2022-34 indexed the affordability contribution percentages for 2023.
  • IRS Proc. 2022-38 increased the maximum contribution limit for health flexible spending accounts (FSAs) for 2023.

Download the Affordable Care Act: 2023 Compliance Checklist PDF