Employers with 50 or more full-time employees and all self-insured employers regardless of size must file federal ACA (Affordable Care Act) documentation annually and submit copies to IRS and employees. There are also state-based related compliance requirements
What are some of the challenges of completing this process manually?
Employers that don’t file or file incorrectly may face hefty penalties, which may be challenging to refute, particularly if there have been changes in HR personnel/loss of documentation. Furthermore, fulfilling ACA requirements may be particularly challenging during COVID-19 pandemic with more complex employee scenarios.
How does EverythingBenefits automate the ACA Reporting process?
EverythingBenefits offers comprehensive and automated tracking and monitoring of your organization’s ACA data, making it easy to maintain real-time compliance with fully automated features that reduce risks and liability. Using intuitive rules and workflows, we can notify you when an employee is approaching eligibility status, display the progress of an employee’s measurement and stability periods, and identify any data fields that require your attention each month. We can also generate your 1094C and 1095C forms, and file them on your behalf to the IRS and distribute them to the necessary recipients on your behalf.
I need an ACA solution that can track my part-time employees’ eligibility. Can this be accomplished with EverythingBenefits?
Yes. EverythingBenefits is capable of tracking your employees’ eligibility and notifying you when/if benefits need to be offered.
