What is Snapshot Technology in ACA-Track?

Snapshot Technology in ACA-Track captures key employee data at specific points in time, ensuring that information about hours worked, job status, and insurance eligibility is preserved accurately. This historical data is crucial for compliance with ACA reporting requirements and makes audits easier.

How does Snapshot Technology benefit ACA compliance?

Snapshot Technology benefits ACA compliance by creating an accessible, real-time history of all relevant employee data. This enables businesses to track employee eligibility, maintain accurate records, and easily retrieve information for IRS audits, thus reducing the risk of noncompliance penalties.

How does ACA-Track’s Snapshot Technology handle variable-hour and part-time employees?

ACA-Track’s Snapshot Technology automatically tracks and captures hours worked for variable-hour and part-time employees, ensuring accurate reporting for these groups. By maintaining snapshots of each employee’s work hours and eligibility, businesses can ensure compliance with ACA’s full-time equivalent (FTE) calculations.

Can Snapshot Technology help during IRS audits?

Yes, ACA-Track’s Snapshot Technology stores all ACA compliance data in one secure place. This makes it easy to retrieve accurate, historical information in the event of an IRS audit. The snapshots help reduce the stress of audits by providing clear, verifiable data for reporting purposes.

What makes ACA-Track’s Snapshot Technology different from other ACA compliance tools?

ACA-Track’s Snapshot Technology is unique in that it creates a detailed, real-time record of employee data at specific moments. Unlike other systems that may only show current status, Snapshot Technology ensures historical accuracy, making it easier to manage ACA compliance over time and reducing the risk of reporting errors.

Snapshot Technology: ACA-Track’s Secret Weapon

When it comes to navigating the complexities of the Affordable Care Act (ACA), businesses of all sizes are confronted with a labyrinth of reporting requirements, compliance standards, and penalties for noncompliance. For many employers, ensuring ACA compliance can feel overwhelming. However, ACA-Track offers a solution that simplifies the entire process, using innovative technology to streamline tracking, reporting, and monitoring. At the heart of ACA-Track’s efficiency is its unique “Snapshot Technology,” a feature that sets the platform apart from other ACA compliance solutions.

What is ACA-Track?

ACA-Track is a comprehensive ACA compliance solution designed to help businesses stay on top of their reporting requirements and avoid costly penalties. Developed by PSST, a software development firm with over 30 years of experience in data management, ACA-Track integrates seamlessly with existing payroll systems, HRIS platforms, and financial management tools to collect, monitor, and report ACA-related data efficiently.

The software addresses all aspects of ACA compliance, from tracking employee hours to generating and filing IRS forms. It even maintains records for quick retrieval in the event of an audit, reducing the stress associated with compliance.

For those looking for a complete solution for ACA compliance, ACA-Track offers flexible plans and pricing, with a dedicated Client Success Advisor to help tailor the service to meet the specific needs of your business, organization, or client.

Snapshot Technology: A Game-Changer in ACA Compliance

ACA-Track’s Snapshot Technology is the cornerstone of its efficient approach to ACA compliance. This innovative feature allows employers to maintain an accurate view of an employee’s ACA data at specific points in time, creating a detailed historical record for every employee. By using snapshots, ACA-Track ensures that all data is preserved, so if discrepancies arise later, or an IRS audit occurs, the historical data is readily available for review.

How Does Snapshot Technology Work?

At its core, Snapshot Technology captures key data points related to each employee’s ACA compliance status, such as:

Hours worked: Whether an employee is full-time, part-time, or a variable hour worker, ACA-Track captures the actual hours worked from a variety of systems such as time clocks, payroll, and manual timesheets.
Insurance status: Snapshot records also track whether an employee was enrolled in the company’s health insurance plan at any given moment.
Job status: Whether an employee is actively employed, on leave, or has been reassigned is also tracked.

With Snapshot Technology, these critical pieces of information are preserved over time. This means that at any moment, you can view an employee’s compliance status, regardless of changes in their work schedule, employment status, or insurance enrollment.

Benefits of Snapshot Technology

Historical Data Tracking: ACA-Track’s snapshot feature maintains a historical record of all relevant employee data, making it easier to prove compliance during an IRS audit or if state healthcare exchanges request information.
Enhanced Accuracy: By capturing data in real-time and at specific intervals, the software reduces the risk of errors caused by late or inaccurate reporting. Employers can rest easy knowing their data is accurate and up to date.
Efficient Monitoring: Snapshot views offer an easy way to monitor employee eligibility for benefits, track changes in job status, and ensure compliance with ACA’s various measurement and stability periods.
Simplified Reporting: When it comes time to file reports (such as Forms 1094-C and 1095-C), having a snapshot of employee data allows ACA-Track to automatically populate the necessary fields, eliminating the need for manual data entry and reducing the risk of errors.

Key Features of ACA-Track

Beyond Snapshot Technology, ACA-Track boasts a range of features that make it a user-friendly and efficient ACA compliance solution:

1. Customizable Dashboard and User Interface

ACA-Track offers a highly customizable dashboard where users can select, arrange, and filter the data fields they want to view. This flexibility allows users to focus on the metrics most important to them, increasing productivity and simplifying navigation.

2. Comprehensive Data Integration

The platform integrates seamlessly with various payroll systems, HRIS, and financial management tools, ensuring that all employee data is collected, monitored, and reported in real time. ACA-Track’s ability to work with multiple systems provides a comprehensive solution for managing ACA compliance without disrupting your existing workflows.

3. Detailed Compliance Tracking

ACA-Track allows you to track employees’ ACA status, including full-time, part-time, and variable hour classifications. The software supports complex ACA calculations, including affordability percentages and hours worked thresholds, and provides alerts when eligibility thresholds are exceeded.

4. Robust Reporting and Filing Capabilities

With ACA-Track, you can generate and file the required IRS reports electronically. The platform can create Forms 1094-C and 1095-C, ensuring that all required information is properly reported to the IRS and provided to employees. The platform even handles any necessary corrections to ACA reporting errors.

5. Real-Time Alerts and Notifications

ACA-Track provides real-time alerts for important events, such as when an employee exceeds eligibility thresholds or if any errors are detected in the system. These notifications ensure that employers are always in the know, minimizing the risk of noncompliance.

6. Secure Cloud-Based System

Security is a top priority for ACA-Track. The platform’s cloud-based data center is SAS 70 certified and compliant with SSAE 16 standards, ensuring that sensitive employee data is encrypted and protected. All data transfers are conducted via Secure Hypertext Transfer Protocol (HTTPS), offering peace of mind that your data is safe and secure.

Why ACA-Track Is the Ultimate Solution for ACA Compliance

The Affordable Care Act has introduced complex reporting requirements that can overwhelm even the most organized organizations. ACA-Track simplifies this process by automating many of the tasks associated with compliance, reducing administrative burdens and mitigating the risks associated with ACA noncompliance.

Variable Hour Tracking: ACA-Track’s unique ability to track employees’ hours across multiple systems ensures that you can meet ACA’s full-time equivalent (FTE) calculation requirements, reducing the risk of penalties for underreporting or failing to offer health insurance.
Data Transparency and Control: With ACA-Track, employers have full control over their ACA data, which can be sorted, filtered, and exported at any time. This transparency makes it easy to manage large amounts of data and ensures that all reporting is accurate and complete.
Client Success Advisor Support: ACA-Track offers a dedicated Client Success Advisor, ensuring that businesses have access to personalized support when they need it most. Whether you’re setting up your system or troubleshooting an issue, ACA-Track provides the guidance necessary to maintain ACA compliance with confidence.

The Bottom Line: ACA-Track is a Must-Have ACA Compliance Tool

Navigating the ACA’s complex requirements doesn’t have to be a daunting task. With ACA-Track’s Snapshot Technology, businesses can ensure that they are fully compliant with the ACA’s reporting and tracking requirements while minimizing administrative burdens. By leveraging the power of Snapshot Technology, ACA-Track allows employers to keep their employee data organized, accurate, and easily accessible, all while providing peace of mind that their ACA compliance is in safe hands.

For more information about how ACA-Track can help your business stay ACA-compliant, visit ACA-Track.

Whether you’re looking to streamline your reporting, improve tracking, or simply ensure your business is in full compliance, ACA-Track is the ACA compliance solution your organization needs.