What key features should I look for in ACA compliance software?

When choosing ACA compliance software, look for features like accurate employee hour tracking, integration with payroll systems, customizable reporting dashboards, and secure data handling. ACA-Track provides all these features, ensuring seamless ACA compliance and reporting.

How does ACA-Track help with tracking variable-hour employees?

ACA-Track automates the tracking of hours worked by variable-hour employees, which is essential for ACA compliance. The software integrates with payroll and timekeeping systems to track actual hours worked, providing alerts when employees are eligible for health coverage under ACA rules.

What makes ACA-Track a secure solution for ACA compliance?

ACA-Track is a highly secure ACA compliance solution. It is SAS 70 certified and compliant with SOC 2 Type 2 standards. Personal data is encrypted in the database, and all data transfers are conducted via Secure HTTPS protocols, ensuring that your compliance data is protected.

How does ACA-Track support ACA error correction and IRS reporting?

ACA-Track simplifies ACA error correction by identifying and flagging errors before they are submitted to the IRS. The platform also stores all ACA compliance data in one secure location, making it easy to access during IRS audits and resolve any discrepancies.

Why is it important to have customizable reporting in ACA software?

Customizable reporting is crucial for tailoring ACA compliance tracking to your specific business needs. ACA-Track offers a customizable dashboard, allowing you to choose the data fields to display, sort, filter, and group them based on your preferences, making the reporting process efficient and streamlined.

ACA Software for Compliance: What to Consider Before Choosing

Choosing the Right ACA Software: What to Look For

The Affordable Care Act (ACA) has introduced a number of complexities for businesses, particularly for those considered “Applicable Large Employers” (ALEs). From tracking employee hours to filing reports with the IRS, ACA compliance requires robust tracking and reporting systems. The right ACA software can make all the difference in ensuring your business stays compliant without the headache. One such powerful solution is ACA-Track, a comprehensive tool designed to simplify ACA compliance, reporting, and tracking.

Why ACA Compliance Matters for Employers

As an employer, understanding the Affordable Care Act and staying compliant is essential. ACA regulations require that certain employers—those classified as ALEs—offer affordable health coverage to full-time employees. Employers who fail to comply with these requirements risk incurring hefty fines and penalties.

The ACA defines full-time employees as those working 30 or more hours per week or 130 hours per month. For businesses employing 50 or more full-time employees, ACA compliance can become a significant burden, requiring a thorough tracking system for employee hours worked, eligibility, and insurance coverage.

Given the importance of compliance, choosing the right ACA software is not just a matter of convenience—it’s crucial to protect your business from non-compliance penalties and to streamline your reporting efforts.

What to Look for in ACA Software

When selecting ACA software, there are several key features and functions you should consider. Here’s a detailed breakdown:

1. Comprehensive Employee Hour Tracking

One of the most critical features for ACA compliance is the ability to accurately track employee hours, especially for part-time and variable-hour employees. ACA-Track offers a robust system for collecting actual hours worked by all employee types, including:

Full-time employees
Part-time employees
Variable-hour employees
Temporary and seasonal employees

It also integrates seamlessly with payroll systems and time-keeping devices, ensuring that you’re capturing hours worked from a variety of sources, such as automated time clocks, manual time sheets, and mobile devices. This allows for a more accurate assessment of full-time equivalent (FTE) employees, ensuring compliance with the ACA’s shared responsibility provisions.

2. Variable Hour Employee Monitoring

If you have employees who work variable hours, ACA compliance can become tricky. Variable-hour employees may not consistently work the same number of hours each week, making it harder to determine if they qualify as full-time. ACA-Track takes care of this challenge by monitoring eligibility thresholds and providing alerts when an employee’s average hours worked exceed the ACA’s full-time status (30 hours per week or 130 hours per month).

This allows employers to track the eligibility of each employee throughout the measurement period, ensuring they offer health coverage during the stability period if necessary.

3. ACA Reporting for the IRS (Forms 1094-C & 1095-C)

ACA-Track makes 1094-C and 1095-C federal and state reporting easy. These forms are essential for reporting employee health insurance coverage to the IRS. With ACA-Track, you can easily generate these forms and file them electronically, ensuring compliance with IRS regulations. The software also helps you fix errors in your ACA reporting, reducing the risk of costly penalties.

4. User-Friendly Interface and Customizable Dashboards

A software system is only as good as how easily you can navigate and utilize it. ACA-Track addresses this with a user-friendly dashboard that is customizable to suit your needs. You can sort, filter, and group data by specific employee statuses, locations, or other key fields, ensuring you can quickly access and report the most relevant data for compliance.

In addition, ACA-Track’s snapshot summary feature captures employee ACA data over time, preserving payroll records, job salary data, and insurance status at specific points in time. This historical view of data simplifies the tracking process and makes reporting easier during an IRS audit or state healthcare exchange request.

5. Data-Driven Functionality

ACA-Track is highly data-driven, offering powerful sorting, filtering, and analysis tools to help you make sense of the data. With features like color-coded warnings for errors and unusual data patterns, the software enhances both the novice and power user’s experience. Employers can easily export the data to Microsoft Excel or customize their individual user grid layouts for further analysis.

6. Security and Compliance

Security should always be a priority when handling sensitive employee data. ACA-Track ensures your data is protected by utilizing advanced encryption for personal identifying information (PII) stored in its database. Additionally, data transfers are conducted through secure HTTPS protocols, and the platform is certified under SSAE 16 and SOC 2 Type 2 standards. This level of security ensures that your company’s ACA-related data is safe from breaches and unauthorized access.

7. Client Success and Support

ACA-Track stands out not only for its powerful features but also for its dedicated customer support. A personal Client Success Advisor is available to guide you through ACA compliance, helping to ensure your business adheres to all relevant regulations. Whether you need help with initial setup, ongoing support, or ACA-specific questions, ACA-Track is there to assist you every step of the way.

How ACA-Track Helps Employers Stay Compliant

ACA-Track simplifies the process of managing and reporting ACA compliance by automating many of the tasks that traditionally take up considerable time and resources. Here’s how it can help your business:

Automates ACA compliance tracking and reporting: ACA-Track integrates data from HR, payroll, and timekeeping systems, so you can automate the tracking of employee hours, eligibility, and coverage status.
Reduces the risk of penalties: By helping you stay on top of your ACA compliance responsibilities, ACA-Track minimizes the risk of incurring penalties due to missed deadlines or reporting errors.
Frees up time for other tasks: By automating ACA reporting, ACA-Track frees up time and resources for other essential tasks in your business.

Penalties for ACA Non-Compliance

Non-compliance with ACA reporting can result in steep penalties. These penalties can be imposed for failing to file ACA forms or providing incorrect information to the IRS. The penalties range from $50 per return for those filed less than 30 days late, to as much as $270 per return for those filed after August 1.

ACA-Track’s robust reporting capabilities help ensure you meet all deadlines and avoid these costly penalties, providing peace of mind for your business.

Why ACA-Track is the Right Choice for ACA Compliance

Choosing the right ACA software for your organization is essential for ensuring compliance with the Affordable Care Act’s complex requirements. ACA-Track provides a comprehensive, secure, and user-friendly solution that simplifies ACA tracking, reporting, and compliance. With powerful features such as customizable dashboards, real-time alerts, and seamless integration with payroll systems, ACA-Track ensures that your business stays compliant while minimizing the risk of penalties.

By choosing ACA-Track, you gain access to an expert support team and the most effective ACA compliance solution available—one that adapts to your business’s needs and helps you stay ahead of the regulatory curve.

Conclusion

ACA compliance is crucial for businesses that fall under the ACA’s employer mandate. By choosing the right ACA software, such as ACA-Track, you can streamline your compliance processes, minimize risks, and ensure you’re meeting all the necessary requirements. Whether you’re tracking variable-hour employees, filing IRS forms, or ensuring your data is secure, ACA-Track is designed to handle the complexities of ACA compliance with ease. If you’re ready to simplify your ACA tracking and reporting, look no further than ACA-Track.