Page 17 - 2020 Peel & Holland Benchmarking Survey Results

Are you an Applicable Large Employers (ALEs) required to complete
WESTERN KENTUCKY EMPL OY EE BENEFIT S
reporting to the IRS and provide employee statements annually? BENCHMARKING SURVEY
Yes 59% 30 2017
No 27% 14 CORPORATE DEMOGRAPHICS
I Don't Know 14% 7
Are you an Applicable Large Employer (ALE)

who must annually report due to the ACA?

27%
No
59%
Yes

14%
I don’t know
What changes have you made in order to comply with the reporting?

Changes % of 51 # of Respondents
Nearly 45% of survey respondents said staying compliant was one of the biggest
None
8
16%
business stressors in 2020 (up from 40% in 2018). Not surprisingly, 69% of
Hired other outside services
to complete reporting
respondents said they pay for ACA tracking and reporting. Of those who pay for
8%
4
Created or enhanced
18%
tracking, 27% pay less than $1,000 per year. 9
Purchased Software 18% 9
Expanded payroll services
to include reporting What changes have you made to
11
22%
comply with the ACA reporting?
Expanded payroll services 22%
Expanded payroll services
to include reporting
to include reporting

Purchased Software 18%
Purchased software

Created or enhanced
Created or enhanced
internal manual process 18%
internal manual process
Hired other outside services
Hired other outside services
to complete reporting 8%
to complete reporting

None 16%
None

0% 5% 10% 15% 20% 25%

PEEL & HOLLAND | 2020 Western Kentucky Employee Benefits Benchmarking Survey Results 15