Achieving ACA compliance can be an overwhelming process for businesses, but with the right tools, it becomes significantly more manageable. One such tool that stands out in the field of ACA compliance is ACA-Track. Designed to simplify tracking, monitoring, and reporting for employers, ACA-Track is a comprehensive solution that ensures businesses stay on top of their ACA obligations.
The ACA Compliance Challenge
The ACA imposes complex requirements for businesses, including detailed tracking of employee work hours, eligibility for benefits, and timely reporting of IRS forms. Employers must collect accurate data, monitor employee eligibility, and ensure the correct benefits are offered. This requires robust systems in place, and failure to comply can result in costly penalties and legal consequences.
For many organizations, keeping track of every employee’s hours worked, benefits eligibility, and status is a manual process, prone to errors and inefficiencies. These mistakes can quickly snowball, leading to non-compliance and potential fines from the IRS. However, ACA-Track simplifies this by offering an integrated platform that automates many of these critical tasks.
Real-Time Monitoring of Employee Hours and Benefits
One of the key features that sets ACA-Track apart from other compliance solutions is its ability to provide real-time monitoring of employee hours and benefits eligibility. The platform integrates with your payroll systems and HRIS to capture data from multiple sources. Whether you’re using time clocks, mobile apps, manual timesheets, or other systems, ACA-Track collects actual hours worked for all employees—full-time, part-time, variable-hour, and temporary workers—ensuring that no employee falls through the cracks.
Moreover, ACA-Track continuously monitors eligibility thresholds and alerts employers when certain thresholds are exceeded. This proactive alert system allows businesses to stay ahead of eligibility requirements, preventing any last-minute surprises when it’s time to file ACA forms.
Streamlining Reporting with Automated 1095-C and 1094-C Forms
The next major challenge for businesses is ensuring timely and accurate reporting of Forms 1095-C and 1094-C to the IRS. These forms must be submitted annually to report employee health coverage information. Mistakes in these forms can result in penalties and delays. ACA-Track makes the process straightforward by automating the creation of these forms.
Using data collected from various sources, ACA-Track auto-generates the necessary IRS forms and calculates the required codes for Form 1095-C. The platform supports both federal and state reporting, ensuring full compliance across all regulatory requirements. Once the forms are generated, employers can easily file them electronically with the IRS using ACA-Track’s e-filing feature.
In addition to automated form generation, ACA-Track provides a centralized location for all employee data, making it easier to retrieve information in the event of an IRS audit or healthcare exchange request.
The Advantage of a Dedicated Account Manager
Another key feature of ACA-Track is the personalized support provided through a dedicated account manager. Each business that uses ACA-Track is assigned an account manager who works closely with the company to ensure ACA compliance is achieved smoothly. This expert support ensures that you’re never alone in navigating complex ACA requirements.
The dedicated account manager provides assistance with all aspects of compliance, including IRS error correction, multiple EINs management, and coverage group reporting. Their deep understanding of ACA regulations ensures that any potential issues are addressed quickly and effectively, saving businesses time and stress.
Security and Data Integrity with ACA-Track
In today’s digital age, data security is a top concern for businesses. ACA-Track prioritizes the security of your data by adhering to the highest security standards. The platform is SSAE 16 SOC 2 Type 1 compliant, which means it has undergone rigorous third-party audits to ensure that it meets strict data security and privacy requirements.
All data is encrypted and stored in ACA-Track’s secure cloud-based data center, so you can rest assured that your employee information is protected. Additionally, ACA-Track employs secure data transfer protocols (HTTPS) to further ensure that any data shared between systems is safe and secure.
Why ACA-Track is the Best Solution for ACA Compliance
ACA-Track is more than just a tool—it’s a comprehensive ACA compliance solution designed to streamline the entire process, from data collection to reporting. With features like real-time data monitoring, automated IRS form generation, and dedicated account support, ACA-Track ensures that businesses can focus on their core operations without worrying about ACA compliance.
For businesses looking to simplify their ACA compliance efforts, ACA-Track is the ideal solution. With its powerful automation, secure data handling, and expert support, ACA-Track provides peace of mind to employers, allowing them to stay compliant and avoid costly penalties. Learn more about how ACA-Track can simplify your ACA compliance by visiting ACA-Track’s ACA Compliance Services.
