Changes in Insurance Sector Will Impact ACA Reporting

Changes in Insurance Sector Will Impact ACA Reporting

Changes in Insurance Sector Will Impact ACA Reporting

The Affordable Care Act (ACA) continues to influence businesses everywhere and changes in the insurance sector are making even more waves. Mergers between health insurance carriers and political pressures to repeal or change various ACA provisions have many on alert. Regardless of where the law is heading, businesses still need to capture and monitor data in order to prepare accurate reporting for the IRS and avoid expensive penalties for non-compliance.
Within the last few years, the Cadillac Tax was put on hold, there have been several mergers of major health insurance carriers, and other regulatory changes have impacted the healthcare industry. Love it or hate it, ready or not, the ACA is continuing to put pressure on businesses as they navigate these changes while trying to monitor necessary payroll and benefits data. Just when you take one step forward, changes in the marketplace or legislation make you question whether you are moving in the right direction.

Stay Confident When Managing ACA Obligations

Be prepared for whatever ACA-related changes head your way by deploying an ACA Compliance Solution, backed by a team that is staying one step ahead for you. The ACA Compliance Solution integrates with either a standalone payroll system or within the payroll module of an enterprise resource planning (ERP) solution, like Microsoft Dynamics GP. Time-saving features include:

  • Monitor employee eligibility for coverage and use notifications to alert when it’s time to make an offer of coverage
  • Ensure health plans meet the ACA definition of affordability by automatically calculating employee contributions using the three permitted safe harbors
  • Automatically populate and email IRS Form 1095-C for employees and Form 1094-C, the transmittal form, for the IRS
  • Print and electronically file these forms when required

The experts at Integrity Data continuously monitor IRS guidance for changes and makes necessary updates within the software. With this ACA Compliance Solution being deployed in the cloud, your IT team won’t need to worry about installing updates. The Integrity Data team makes needed software updates behind the scenes, with little to no interruption to your business. More importantly, you can be confident the software is keeping up with changing regulations and requirements.
Changes in the insurance sector and healthcare industry can impact ACA reporting efforts. Contact Integrity Data to learn how you can successfully manage your ACA obligations today, tomorrow and in the future with the support of their ACA Compliance Solution.

2017-01-08T13:22:25+00:00 September 20th, 2016|ACA Tracking, Reporting Compliance|0 Comments

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