ACA-Track Survey Results
Since the enactment of the Affordable Care Act in 2010, Applicable Large Employers (ALEs) have dealt with deadlines changing yearly, the “repeal and replace” movement in Washington, D.C., options for “good faith” offers, as well as IRS penalty letters and audits – just to name a few!
Already more than halfway through 2018, ALEs still have concerns about this year’s Affordable Care Act compliance and reporting. An informal survey recently conducted by PSST and ACA-Track™ reveals businesses and organizations are still struggling to get a confident handle on complying with the healthcare mandate.
It’s a Complex Law
Nearly 80% of respondents indicated they were either “very concerned” or “extremely concerned” when it came to the “complexity of the ACA law.”
Understanding the Affordable Care Act Law and Its Impact
Related to the challenge of the complexity of the ACA law are its overwhelming details and potential impact on businesses and organizations. Almost 65% of survey respondents indicated they were either “very concerned” or “extremely concerned” about this challenge for their companies.
Time and Resources Matter
More than 62% of the survey’s respondents expressed high levels of concern regarding the time and/or resources required to implement ACA within their organizations and businesses and stay compliant.
Among the top five challenges were tracking employee hours, as well as the ability to respond to an IRS audit regarding ACA compliance and reporting.
Best Practices for Top Challenges
To see complete results for “Top 10 Affordable Care Act Challenges in 2018” and suggested best practices for addressing each of those challenges, click here.
Be confident in your ACA compliance and reporting with ACA-Track™, a proven solution that integrates seamlessly with your payroll system and HRIS for automated tracking and reporting. ACA-Track also works just as easily with your IRS-ready XML files. Click here to see ACA-Track’s affordable Service Options.