How does ACA-Track help with making data-driven decisions?

ACA-Track streamlines the ACA compliance process by collecting real-time employee hours, monitoring eligibility thresholds, and automating IRS reporting. With powerful data analytics, businesses can make informed, data-driven decisions regarding employee health coverage and ACA compliance.

What types of data does ACA-Track collect for ACA compliance?

ACA-Track collects critical employee data including hours worked, insurance status, eligibility thresholds, job titles, and more. It integrates with payroll, timekeeping, and HR systems to capture all relevant data for ACA compliance and decision-making.

How does ACA-Track simplify ACA reporting?

ACA-Track simplifies ACA reporting by automatically generating the required 1094-C and 1095-C forms, ensuring accurate data and timely filing. The platform also enables electronic submission directly to the IRS, reducing the risk of errors and penalties.

What is the importance of accurate tracking for part-time and variable-hour employees in ACA compliance?

Tracking part-time and variable-hour employees is critical for ACA compliance, as businesses must determine which employees are eligible for health coverage based on their hours worked. ACA-Track automates this process, reducing manual errors and ensuring compliance with ACA regulations.

How can ACA-Track assist with error correction and IRS audits?

ACA-Track helps detect reporting errors before submitting data to the IRS. If an IRS audit occurs, ACA-Track stores all compliance data securely in one location for easy retrieval. It also provides support to help resolve any issues, ensuring a smoother audit process and reducing the risk of penalties.

Making Data Driven Decisions with ACA Track

Making Data-Driven Decisions with ACA-Track

Navigating the complexities of the Affordable Care Act (ACA) is no small feat for businesses of any size. With the vast array of data points that need to be tracked, reported, and ensured for compliance, many employers struggle to keep up with the intricate details of ACA requirements. This is where ACA-Track comes into play—an intelligent, data-driven solution designed to streamline ACA compliance and make decision-making more effective and accurate.

In this blog post, we’ll explore how ACA-Track empowers businesses to make informed, data-driven decisions by collecting, monitoring, and reporting key employee information. We’ll also dive into how ACA-Track simplifies ACA compliance, reduces risk, and ensures businesses remain compliant with federal and state reporting requirements.

What Is ACA-Track?

At its core, ACA-Track is an advanced software solution developed by PSST, designed to help businesses comply with the Affordable Care Act’s reporting and tracking obligations. The platform ensures that employers of all sizes can collect and monitor ACA-related data for their workforce—ranging from variable-hour employees to full-time workers—and file necessary forms with the IRS electronically.

Collecting Critical Data

Effective decision-making begins with accurate data. ACA-Track excels at collecting comprehensive employee hours worked, whether they’re full-time, part-time, variable-hour, or temporary workers. It pulls data from a variety of systems, such as:

Timekeeping systems
Manual timesheets
Automated time clocks
Mobile device entries
Payroll systems

This diverse data collection approach ensures ACA-Track captures all the necessary details about employee hours to assess eligibility for ACA coverage, preventing costly compliance mistakes.

Monitoring Employee Eligibility

Once employee data is collected, ACA-Track doesn’t just store it; it actively monitors employee eligibility for ACA compliance. The system is equipped with the ability to track employee eligibility thresholds, such as the number of hours worked per week. When employees exceed or fall below these thresholds, ACA-Track provides advanced alerts, giving employers a heads-up when coverage offers must be made.

Additionally, it tracks key employee events like:

Leave of absence
Waivers for coverage
Changes in employment status

This proactive monitoring feature enables businesses to take immediate action, ensuring no employee is inadvertently left out of coverage.

Reporting with Confidence

ACA compliance doesn’t end with tracking employee hours and eligibility—it requires detailed reporting. ACA-Track streamlines this process with its easy-to-use system that generates the necessary forms for IRS submission. The software handles:

Form 1094-C – Transmittal of Employer-Provided Health Insurance Offer and Coverage Information Returns
Form 1095-C – Employer-Provided Health Insurance Offer and Coverage, which is sent to employees
Electronic filing of XML data directly with the IRS

By centralizing all ACA compliance data in one location, ACA-Track makes reporting easy, saving employers time and reducing the risk of errors in federal and state reporting.

Key Features of ACA-Track

Customizable Dashboard and User Interface

ACA-Track understands that no two businesses are alike, so it offers a customizable dashboard that allows users to prioritize the data that’s most important to them. Whether you want to see hours worked, employee insurance status, or eligibility tracking, you can arrange the information in a way that suits your needs. Users can sort, filter, and group data, enhancing operational efficiency.

Snapshot Summary

One of the unique features of ACA-Track is its Snapshot Summary. This functionality preserves historical data at specific points in time—whether that be payroll records, hours worked, or insurance status. This snapshot approach is invaluable for audit purposes or when needing to review an employee’s data at a specific moment in time.

Data-Driven Insights

For organizations looking to dive deep into their ACA compliance data, ACA-Track offers powerful filtering and sorting capabilities. The system supports:

Color-coded warnings for data discrepancies or errors
Customizable user grid layouts
Export options to Microsoft Excel for deeper analysis

This data-rich functionality empowers both novice users and power users, providing quick access to insights that support decision-making.

Flexible Configuration

Businesses with specific needs will appreciate ACA-Track’s flexible configuration options. The platform allows you to configure:

Measurement periods
Administrative and stability periods
Full-time equivalency calculations
Affordability percent settings
Waiver codes
New hire tracking

This level of configurability ensures that ACA-Track adapts to your company’s needs, offering a tailored experience that aligns with your compliance strategy.

Security and Compliance

Security is paramount when dealing with sensitive employee data. ACA-Track takes privacy seriously and ensures that your data is protected. With SOC 2 Type 2 compliance, SAS 70 certification, and encryption for personal identifying information, businesses can feel confident that their data is secure. All transfers are conducted via HTTPS, further bolstering the platform’s security.

Additionally, ACA-Track ensures compliance with data privacy laws, reducing the risk of legal violations related to personal data breaches.

ACA Compliance Simplified for Employers

Navigating ACA compliance can be daunting, but ACA-Track simplifies the process. Here’s how:

Track Hours Worked for All Employees – Whether full-time or part-time, ACA-Track collects and tracks hours worked to determine ACA eligibility.
Monitor Eligibility – With real-time alerts, ACA-Track keeps you on top of employee eligibility, helping you avoid penalties for non-compliance.
Easy Reporting – Generate and file the required IRS forms (1095-C and 1094-C) electronically with ease.
Proactive Data Management – Monitor important employee events and manage all employee data in one secure, easy-to-access location.
Expert Support – With a dedicated Client Success Advisor, businesses can rely on expert guidance to navigate the ACA landscape and avoid compliance pitfalls.

Parting Thoughts

When it comes to ACA compliance, data-driven decisions are essential for maintaining accurate records and avoiding costly penalties. ACA-Track makes this possible by offering an intuitive, flexible, and secure platform that streamlines the process from data collection and monitoring to reporting and filing. By integrating ACA-Track into your ACA compliance strategy, you can stay on top of your obligations, reduce errors, and be prepared for any IRS audit.

To learn more about how ACA-Track can help you simplify ACA compliance, ensure accurate reporting, and protect your organization from penalties, visit ACA-Track today.