Workforce Efficiency Through Better ACA Data Management: The ACA-Track Advantage
Navigating the complexities of the Affordable Care Act (ACA) can be a daunting task for employers, especially when it comes to ensuring compliance, tracking employee hours, and submitting necessary reports to the IRS. However, thanks to ACA-Track, businesses can streamline this process, ensuring workforce efficiency and compliance with ACA regulations. With a robust, data-driven solution, ACA-Track allows employers to focus on their core business activities while ensuring that they meet their ACA obligations with confidence.
What is ACA-Track?
ACA-Track is a powerful software solution designed to simplify and automate the ACA compliance process for employers of all sizes. Whether you manage a few employees or a large workforce, ACA-Track provides an all-in-one platform for tracking employee hours, monitoring eligibility, and submitting the required reports to the IRS. With over 30 years of experience in data management, ACA-Track is developed by PSST, a recognized leader in providing seamless software solutions for HR, finance, payroll, and benefits.
Why ACA Data Management is Crucial for Workforce Efficiency
Accurate tracking of employee hours and eligibility is critical for ensuring compliance with ACA’s Employer Shared Responsibility provisions. Employers who fail to properly track hours worked—especially for part-time or variable-hour employees—may face penalties, fines, or audits from the IRS. A failure to comply with ACA reporting requirements can also harm a company’s reputation and lead to costly penalties.
In addition to ACA reporting, the management of employee data plays a critical role in reducing errors and improving operational efficiency. Traditional methods of tracking and managing ACA-related data, such as using spreadsheets or outdated software systems, are time-consuming, prone to errors, and resource-draining. ACA-Track solves these problems by automating much of the process and integrating with existing HR, payroll, and financial systems to create a unified, accurate database.
Key Features of ACA-Track: How It Enhances Workforce Efficiency
1. Comprehensive Data Collection
ACA-Track excels at collecting and managing data across multiple systems. The software integrates with payroll systems, time-keeping systems, HRIS, and even manual timesheets, to track the actual hours worked by all employees, including full-time, part-time, paraprofessionals, and substitutes. With this information at hand, employers can accurately assess eligibility for benefits under the ACA.
Additionally, ACA-Track can collect data from multiple entry points, such as time clocks, mobile devices, and payroll systems, making it easier to gather hours worked from any source. This ensures that every hour is accounted for, reducing the risk of missing key data.
2. Real-Time Monitoring of Employee Eligibility
Monitoring employee eligibility for health coverage is a complex and ongoing process. ACA-Track helps employers track eligibility thresholds and provides alerts when employees cross those thresholds, ensuring that employers are aware when they need to offer coverage. The system also allows employers to monitor employee events such as waivers, leave, and changes in employment status, so that they can adjust their compliance actions as necessary.
3. Simplified Reporting with Confidence
One of the key components of ACA compliance is timely and accurate reporting to the IRS. ACA-Track simplifies this process by automatically generating the required 1094-C and 1095-C forms for employers. The software’s user-friendly interface ensures that all employee data is captured accurately, allowing businesses to file electronically with the IRS and state healthcare exchanges.
Moreover, ACA-Track makes it easy to store all employee ACA data in one central location, ensuring easy retrieval in the event of an IRS audit. The software also provides error detection features, flagging any inconsistencies in data and allowing employers to correct errors before submitting forms to the IRS.
4. Customizable and Flexible Configuration
Every business is unique, and ACA-Track understands that. The software offers a highly customizable dashboard and user interface, allowing employers to arrange data fields in the way that best suits their needs. With the ability to filter, sort, and group data, users can quickly find the information they need, making ACA compliance management more efficient and less time-consuming.
Further, the software is highly configurable, allowing employers to adjust measurement, administrative, and stability periods, as well as work hours thresholds and waiver codes, as needed. This level of flexibility makes it easier to adapt to changing requirements and ensure ongoing compliance.
5. Data-Driven Insights for Informed Decisions
With ACA-Track, employers can access real-time insights into their workforce data. The software allows for grouping, sorting, and filtering data to spot trends and identify potential compliance issues before they escalate. Color-coded warnings for errors and unusual data provide quick references, empowering users to take swift action.
6. Security and Compliance
Given the sensitive nature of ACA data, security is a top priority. ACA-Track is hosted on a SAS 70 certified and SOC 2 Type 2 compliant cloud-based data center, ensuring that all data is securely stored and transferred. Personal identifying information is encrypted to prevent data breaches, and all data transfers are conducted via Secure Hypertext Transfer Protocol (HTTPS). Employers can be confident that their employee data is protected at all times.
The Benefits of Using ACA-Track for Workforce Efficiency
1. Reduced Risk of Penalties
Non-compliance with ACA regulations can result in severe penalties. ACA-Track reduces the risk of non-compliance by automating the tracking and reporting process, ensuring that businesses meet all deadlines and accurately report employee health coverage information. By offering real-time monitoring and error detection, ACA-Track minimizes the chance of costly mistakes that can lead to penalties.
2. Streamlined Workflow
By consolidating ACA compliance data in one platform and automating key processes, ACA-Track helps businesses save time and resources. HR, payroll, and finance departments can collaborate more effectively, reducing the administrative burden of tracking employee hours, managing eligibility, and preparing reports. The result is a more efficient workforce and fewer resources devoted to ACA compliance.
3. Improved Accuracy and Compliance
The data-driven approach provided by ACA-Track ensures that every employee’s ACA status, hours worked, and eligibility for health coverage is accurately tracked and reported. By eliminating manual data entry and reducing the potential for human error, ACA-Track improves the accuracy of reporting and reduces the risk of penalties associated with incorrect or incomplete submissions.
4. Dedicated Client Support
ACA-Track offers a dedicated Client Success Advisor to guide employers through the ACA compliance process. Whether you have questions about the software, need help troubleshooting an issue, or require assistance with reporting, ACA-Track provides expert support to ensure that your business remains compliant and efficient.
Conclusion: The Future of ACA Compliance
As ACA regulations continue to evolve, staying compliant will require more than just tracking employee hours—it will require a comprehensive, data-driven solution that integrates with your existing systems and offers real-time reporting and compliance tools. ACA-Track provides just that, empowering businesses to stay ahead of ACA requirements while improving workforce efficiency.
By choosing ACA-Track, employers can reduce the risk of penalties, ensure accurate reporting, and streamline the ACA compliance process. Whether you’re managing a small business or a large enterprise, ACA-Track offers the tools, flexibility, and support you need to meet your ACA obligations with confidence and ease.
For more information on how ACA-Track can help streamline your ACA compliance, visit ACA-Track.
