Many employers are just getting into a rhythm with navigating Affordable Care Act (ACA) compliance and reporting obligations. There is a lot of information to capture each month and decisions regarding health insurance coverage need to be made. Since penalties for noncompliance can be expensive, this is not a task that can be safely managed in spreadsheets or paper-based forms. Put the right technology in place and improve your ability to remain compliant and avoid risk.
ACA reporting obligations don’t start or end with just the annual reporting to the IRS. Every single month, businesses need to monitor each employee’s eligibility for coverage and the affordability of coverage offered. Tracking every employee’s hours of service and manually forecasting which employees could be trending toward full-time status can be time-consuming and, based on the costly penalties for getting it wrong, risky. In addition, your payroll and human resources departments have other business-critical tasks to manage. Provide your team with the technology that can support reliable ACA decision-making and the confidence that you are in compliance, and will remain in compliance, each and every month.
Replace Manual Processes with a Reliable ACA Compliance Solution
Integrity Data’s ACA Compliance solution is a simple, affordable add-on solution that can integrate with either a stand-alone payroll system or the payroll module of an enterprise resource planning (ERP) solution. Connected with employee records, this ACA Compliance solution can track employee data and notify leaders when actions need to be taken. Instead of tracking information by hand, this solution can:
• Automatically monitor employee eligibility of coverage so that you can make the right offer at the right time
• Calculate employee contributions using the three allowed safe harbors to test affordability of the coverage offered
• Monitor key reporting dates, action items and provide leaders with the latest ACA news
• Notify managers when to review data or take action to address certain situations
• Populate, print and email Form 1095-C to appropriate employees
• Populate, print and electronically file Form 1094-C to the IRS when required
Employer compliance with ACA obligations can be tricky, especially when relying on paper-based processes, spreadsheets and manual calculations. Don’t put your business at risk, replace manual processes with modern technology. Contact Integrity Data for more information about ACA Compliance and how you and gain greater control and insight over this important compliance obligation.