Complying with the ACA: Get Started on the Right Foot in 2016
Complying with the ACA: Get Started on the Right Foot in 2016

Complying with the ACA: Get Started on the Right Foot in 2016

Companies of all sizes are challenged to comply with the Affordable Care Act (ACA). Indeed, the obstacles facing employers are numerous: determining whether they qualify as a large or small employer, keeping track of their number of employees and understanding their obligations in terms of providing health care coverage.

Despite these challenges, and the pressing deadlines for filing with the IRS, many companies are still behind the curve in their preparations. Rather than fall farther behind or not know what they must do before it’s too late, companies should prepare for the year ahead starting today.

So how can companies get their ACA strategies right? Consider the following tips:

* Simplify benefits administration: Employers must show that they provide employees with the appropriate level of health coverage, by way of the IRS Form 1095-C. This document outlines the months during the year an employee was eligible for coverage, as well as the cost of the most affordable coverage under the company’s plan, in order to show that coverage was made available to employees. When equipped with an advanced benefits administration system, it becomes easy to simplify this process and ensure all necessary ACA data and payroll information are housed in a single spot to facilitate the proof of coverage requirement.

* Improve time tracking: Tracking variable-hour employees can be a challenge for many businesses. A Time and Attendance system that contains configurable dashboards and reporting to appropriately measure against each employee’s look-back period can dramatically improve ACA eligibility tracking while giving businesses the point-in-time information they need to efficiently control benefit costs.

* Find the right compliance partner: Ensuring compliance with the ACA—a complex, constantly changing law—is no easy task, even for the most diligent companies. That’s why partnering with a third party to help the process is a good idea. A good compliance partner is one that consolidates data needed for filing, keeps abreast of changes in the law and the effect it has on clients, and actively guides clients through the implementation of ACA reporting and filing.

* Adopt a unified system: To ensure a complete, compliant approach to contending with the ACA, companies will benefit from working with a provider that can facilitate all of the above. Paycor offers advanced ACA reporting software, leveraging unified systems that enhance each step of ACA management to achieve a comprehensive approach. From IRS filing, employee forms, hour tracking, benefits administration and more, Paycor helps its clients manage each step of the process appropriately.

As companies continue to struggle with the requirements of the ACA, it is important that they adopt the solutions that can streamline how they manage this new world. And those that go at it alone, or rely on disparate systems that don’t talk to each other, will only continue to face difficulty. However, with a unified approach that ties all important information together, companies can collect all necessary information throughout the year, and be well prepared to meet their 2016 ACA filing requirements.


Previous ACA Articles:

Managing the ACA Employer Pay or Play Penalties: The Best Path Forward
What Are the Reporting Requirements for the Affordable Care Act?
Preparing for the ACA: Are You Ready?

More to Discover

Families First Coronavirus Response Act: Tips to Manage Employee Leave Scenarios

Families First Coronavirus Response Act: Tips to Manage Employee Leave Scenarios

Coronavirus Response Act On March 18 the Families First Coronavirus Response Act was enacted to help individuals, families and businesses. The legislation requires employers with under 500 employees to give sick leave and paid family medical leave to eligible employees.Eligible businesses are now able to take advantage of new tax credits to offset the costs associated with paid emergency leave and sick leave benefits implemented under the bill, including credit for health plan expenses affiliated with the new leaves. Below is a list of scenarios your employees may experience during this time. Scenario 1 A full time employee is sick and believes they might have COVID-19. The employee is visiting a doctor to seek a medical diagnosis and...

Late Breaking News: Government Approves Remote I-9 Review Due to COVID-19

Late Breaking News: Government Approves Remote I-9 Review Due to COVID-19

Form I-9 Review: Key Details On Friday March 20, 2020, the Department of Homeland Security (DHS) announced it would relax its standards for I-9 document verification amid the coronavirus outbreak.Employers with employees taking physical proximity precautions due to COVID-19 will not be required to review the employee’s identity and employment authorization documents in the employee’s physical presence. This provision only applies to employers and workplaces that are operating remotely. If there are employees physically present at a work location, no exceptions are being made at this time to review and verify documents in person. Remote Inspections Employers taking physical proximity precautions must inspect the physical documents...

Webinar: Coronavirus Response Act: What Business Leaders Need to Know

Webinar: Coronavirus Response Act: What Business Leaders Need to Know

In recent weeks the Coronavirus has grown from a crisis to a pandemic affecting small and medium businesses around the Nation. In response, the House of Representatives passed sweeping legislation to help businesses in the coming weeks and months. This legislation includes: • Families First Coronovirus Leave Act • Free COVID-19 Testing • Emergency FMLA Expansions • Tax credits for Businesses During this pandemic, it’s important that business leaders keep up with the latest information. Speaker: Katharine Weber Katharine C. Weber is a Principal in the Cincinnati, Ohio, office of Jackson Lewis P.C. She has successfully assisted countless clients in handling their labor and employment issues in both Ohio and Kentucky. Additionally, Ms....

Executive Summary: 2020 March HR & Compliance Web Summit

Executive Summary: 2020 March HR & Compliance Web Summit

“This was the first webinar to ever make me cry (in a good way).”“Great session! Good information, relevant and easy to understand and follow.”“Best HR webinar I’ve ever heard.”This is just a sample of feedback from attendees at Paycor’s 2020 HR & Compliance Web Summit!During our 2-day event, industry experts like Josh Bersin offered actionable insights and advice on all things HR, from must-haves for small businesses to succeed to salary history bans and medical marijuana in the workplace.Did you miss any of the live sessions? Don’t worry, we’ve got you covered. You can watch them on our On-Demand Webinar page.In the meantime, check out our executive summary for a short overview. How to Help New Parents Re-enter the Workplace and...