ACA Compliance: Why It’s Critical for Employers to Stay on Track

For businesses with 50 or more full-time employees, the Affordable Care Act (ACA) mandates a series of reporting and tracking requirements to ensure that employees are offered affordable healthcare coverage. Non-compliance with these rules can lead to hefty fines, penalties, and increased scrutiny from the IRS. This is why ACA compliance should be a top priority for employers.

Staying compliant can be complex, especially for businesses with large or fluctuating workforces. Employers are required to track hours worked, monitor employee eligibility for benefits, and report this information to the IRS accurately. Failing to do so can result in a cascade of issues, from missed deadlines to inaccurate reporting. This is where a comprehensive solution like ACA-Track comes in.

The Importance of ACA Compliance

ACA compliance is more than just about filling out paperwork. It’s about ensuring that your employees receive the healthcare coverage they are entitled to, while also protecting your business from costly fines. Employers must meet specific requirements, including offering healthcare to full-time employees and providing the necessary documentation to the IRS.

There are a few key areas that employers must focus on to ensure ACA compliance:

Employee Eligibility: Employers must determine which employees qualify for coverage, including full-time, part-time, and variable-hour employees.
Tracking Hours Worked: Employers must track actual hours worked by employees across different roles and systems. This includes tracking for employees who may fluctuate between part-time and full-time statuses.
Reporting to the IRS: Employers must submit forms 1094-C and 1095-C, which require detailed information on employee coverage and hours worked during the year.

How ACA-Track Helps Maintain Compliance

For businesses looking to simplify the ACA compliance process, ACA-Track offers a comprehensive solution that takes the guesswork out of compliance. ACA-Track provides a suite of features that automate the tedious tasks associated with ACA reporting, including:

Comprehensive Data Collection: ACA-Track collects employee data from multiple sources (payroll systems, time-keeping software, and manual records), ensuring accurate reporting.
Automated Alerts: The platform monitors eligibility thresholds and sends alerts when employees exceed the eligibility criteria for ACA benefits.
Real-Time Reporting: ACA-Track generates IRS-compliant forms 1094-C and 1095-C with all necessary data pre-filled, ensuring timely submission to the IRS.
Error Checking and Remediation: ACA-Track identifies and corrects any errors in the data, making the correction process seamless and avoiding costly penalties.

Key Features of ACA-Track

What sets ACA-Track apart is its user-friendly interface and robust features. Whether you are managing multiple locations or dealing with fluctuating employee statuses, ACA-Track simplifies the complexities of ACA compliance. Here are some of the standout features:

Flexible Configuration: ACA-Track’s dashboard allows you to configure your tracking parameters based on your business’s unique needs, including setting thresholds for full-time employees and tracking waiver statuses.
Integration with Payroll Systems: ACA-Track integrates with your existing payroll system, making data transfers seamless without the need for additional configuration or customization.
Dedicated Support: All ACA-Track clients have access to a dedicated account manager who provides personalized assistance throughout the compliance process.
Compliance Summary and IRS Audit Support: ACA-Track helps you generate detailed reports that can be used in the event of an IRS audit, ensuring that you are always prepared and protected.

Why Choose ACA-Track for ACA Compliance?

ACA-Track is not just a software tool—it’s a partner in ensuring that your business remains ACA-compliant year-round. With its comprehensive features, integration capabilities, and unmatched customer support, ACA-Track makes compliance easier, faster, and more reliable. The software is designed for businesses of all sizes, making it an invaluable resource for companies navigating the complex ACA reporting process.

By using ACA-Track, businesses can avoid the risks of non-compliance, which could result in substantial financial penalties. Furthermore, the ability to track and report in real-time gives employers peace of mind knowing that they’re meeting their obligations under the law.

If you want to ensure your business remains ACA-compliant without the hassle, consider ACA-Track as your solution. With the ability to integrate data from various sources, automated alerts, and seamless reporting, ACA-Track is the ideal tool for simplifying ACA compliance.

Final Thoughts

ACA compliance can be a daunting task for many employers, but it doesn’t have to be. By implementing ACA-Track, businesses can streamline the tracking and reporting process, ensuring that they remain compliant with ACA regulations and avoid penalties. It’s time to take control of your ACA compliance efforts and trust a solution that works for you.