ACA Compliance Services
The process of notifying employees of your benefits policy, tracking wait, measurement, and stability periods, determining who’s eligible and who’s not, when they are eligible, and calculating affordability using safe harbor rules is challenging.
In addition, there are requirements for monthly data tracking and reporting of employee status. Beginning January 1, 2016, fines of $250 per day for failure to file each return.
Use our ACA Compliance Services to help you automate and manage the process of notifying and tracking employee’s responses, employee eligibility, and enrollment requests.
Form 1094C/1095C Reporting
Employers with 50 or more full-time employees (including full-time equivalent employees) use Forms 1094C and 1095C to report the information required. An employer subject to the employer shared responsibility provisions under section 6056 must file one or more Forms 1094C and must file a Form 1095C for each employee who was a full-time employee of the employer for any month of the calendar year. Refer to the IRS Instructions for more information.
ACA Compliance Solution
Our ACA Compliance Solution can automate most requirements and make compliance manageable. As with all our solutions, our compliance services is intuitive and easy to implement and use. Here’s how it works.
First, a simple setup process allows you to upload your ACA Policy and input various pieces of information about your policy and the benefits plans you offer. This includes your waiting, measurement, stability, and administrative periods. Our ACA solution will even determine the optimum employer contribution to benefits in order to eliminate fines while keeping employers’ costs as low as possible.
Once setup is complete, our ACA solution initiates, tracks, and documents employee notification about your ACA policy. Employees even e-sign that they have seen the company’s ACA plan.
Next our ACA solution tracks the various eligibility periods and automatically determines if and when an employee is eligible for benefits. Once the solution determines an employee is eligible, initiates, tracks and documents eligibility and financial implications notifications, capturing e-signature date and time-stamp receipt acknowledgement from the employee.
Our ACA solution calculates safe harbor affordability rates for each employee and uses the company’s ACA policy rules to determine the monthly employee premium contribution. This amount is presented to the employee with the automated eligibility notification. Our solution also tracks the decision of the employee to accept or decline the benefits.
Our ACA solution determines the monthly ACA status of each employee and prepares the required 1094c and 1095c for the employer and employee each year.
Our ACA solution does all this complicated work behind the scenes, automating most ACA compliance issues and making it efficient and easy for companies to manage and maintain.