ACA compliance is no longer just about filling out forms and meeting deadlines; it’s about managing a complex set of requirements that affect your entire workforce. With ACA-Track, businesses can streamline the ACA compliance process, making it automated, accurate, and hassle-free. ACA-Track offers a full-service tracking and reporting solution designed to keep you compliant, reduce risks, and save time, ensuring that ACA compliance is one less thing you have to worry about.
The Complexity of ACA Compliance
The Affordable Care Act (ACA) places significant compliance responsibilities on employers, especially those with 50 or more full-time employees. Businesses must track a wide range of data—employee hours, coverage eligibility, health insurance affordability, and more—and report it accurately to the IRS. The task becomes even more difficult with variable-hour employees, seasonal workers, and multiple EINs to manage. Without an efficient solution, these complexities can lead to mistakes, missed deadlines, and potential fines.
How ACA-Track Simplifies ACA Compliance
ACA-Track is designed to automate every part of the ACA compliance process, from tracking employee hours to generating IRS reports. Here’s how ACA-Track makes the process easier:
- Automatic Data Collection: ACA-Track integrates with payroll systems, HRIS, timekeeping systems, and more, ensuring that employee hours are automatically collected and stored in one place. Whether your employees work from time clocks, mobile devices, or manual timesheets, ACA-Track captures every detail accurately.
- Eligibility Monitoring: ACA-Track continuously monitors employee eligibility based on hours worked, ensuring you never miss the threshold for offering coverage. Alerts notify you when an employee is approaching or has exceeded the eligibility requirement, so you can act before it’s too late.
- Automated 1094-C and 1095-C Reporting: ACA-Track automatically generates and submits the required IRS forms (1095-C and 1094-C), ensuring that your reports are accurate and filed on time. The system automatically calculates the necessary codes for each employee, saving time and minimizing the risk of error.
Key Features of ACA-Track
ACA-Track is packed with features designed to make ACA compliance effortless:
- Seamless Integration: ACA-Track integrates smoothly with your existing payroll and HRIS systems, reducing the need for manual data entry and ensuring that all employee data is up-to-date and accurate.
- Advanced Error Detection: ACA-Track automatically checks for errors in your employee data and flags discrepancies. This proactive error detection allows you to correct issues before they affect your ACA compliance reports or result in IRS penalties.
- Comprehensive Reporting: With ACA-Track, you can generate customized compliance reports at any time. Whether it’s for internal review or an IRS audit, all the data you need is stored securely and ready for retrieval.
- Real-Time Alerts: ACA-Track sends out real-time alerts when an employee exceeds the eligibility threshold or when errors in data are detected. These alerts help you stay ahead of any potential compliance issues.
The Benefits of Using ACA-Track
By using ACA-Track, your business can experience a range of benefits that go beyond just ensuring compliance:
- Time and Cost Savings: ACA-Track automates key tasks, such as data collection, reporting, and error correction, saving your team valuable time. This automation reduces administrative costs and frees up resources for other critical business activities.
- Peace of Mind: With ACA-Track handling the complexities of ACA compliance, you can rest assured that your business is staying compliant. The automated system ensures that your reporting is accurate, timely, and error-free.
- Scalability: Whether you have a small team or thousands of employees, ACA-Track scales to meet your needs. Its flexible platform grows with your business, so you never have to worry about outgrowing the system.
- Comprehensive Client Support: ACA-Track provides dedicated support with a Client Success Manager who can assist you with any questions or challenges you encounter. From error correction to compliance advice, ACA-Track’s experts are here to help you navigate the complexities of ACA regulations.
Protect Your Business from ACA Penalties
Failure to comply with ACA regulations can lead to severe financial penalties. With ACA-Track, you minimize the risk of penalties by automating compliance tasks, tracking employee eligibility, and ensuring timely reporting. The system’s built-in checks and balances catch errors before they become costly mistakes, helping to protect your business from IRS fines and audits.
Security and Data Integrity
With ACA-Track, you can rest assured that your data is safe. The platform uses advanced encryption to protect sensitive employee information, and all data is stored in a secure, SSAE 16 SOC 2 Type 1 certified data center. ACA-Track’s data integrity checks ensure that your records are accurate and reliable at all times, so you can confidently report to the IRS without worrying about data breaches or errors.
Conclusion: Simplify ACA Compliance with ACA-Track
ACA compliance is critical for businesses, but it doesn’t have to be complicated. ACA-Track simplifies the entire process, automating tracking, reporting, and error correction to ensure that your business stays compliant. With real-time alerts, seamless integration with existing systems, and comprehensive reporting features, ACA-Track makes ACA compliance easier, faster, and more accurate.
If you want to take the stress out of ACA compliance, visit the ACA-Track ACA Compliance Services page today. Let ACA-Track handle the complexity while you focus on growing your business.
