Human Resource (HR) companies are essential in managing employee benefits, compliance, and data for businesses across industries. However, with the complexities of the Affordable Care Act (ACA), managing ACA compliance can become a time-consuming challenge for HR providers. Ensuring that clients are meeting ACA requirements, tracking employee eligibility, and filing the necessary IRS reports can be overwhelming. Thankfully, ACA-Track offers a streamlined solution to simplify ACA compliance for HR companies, enabling them to provide efficient service to their clients while minimizing the risk of penalties.
ACA-Track’s ACA Compliance for Human Resource Companies solution is designed to help HR companies manage all aspects of ACA compliance—from tracking employee hours to reporting to the IRS—without the need for manual data entry or complex spreadsheets. By automating ACA compliance tasks, ACA-Track allows HR companies to save time and resources while ensuring that clients are always in full compliance with ACA regulations.
Efficient Hour Tracking for Employees
One of the biggest challenges HR companies face when managing ACA compliance is tracking the hours worked by employees, especially when those employees are part-time, variable-hour, or seasonal. The ACA requires businesses to track and report the actual hours worked by their employees to determine eligibility for healthcare coverage. For HR companies managing multiple clients, this task can quickly become complex and prone to errors.
ACA-Track simplifies this process by integrating seamlessly with timekeeping systems, payroll platforms, and mobile apps to track hours worked across different systems. Whether employees log hours manually, use time clocks, or track their time via mobile devices, ACA-Track consolidates this data into one secure platform. This ensures that HR companies can easily track and verify hours worked for all employees, allowing them to determine eligibility for ACA coverage accurately.
By automating this process, ACA-Track reduces the chances of errors and ensures that HR companies can stay compliant with the ACA’s full-time employee definition, making it easier for clients to offer coverage to the right employees and avoid penalties for non-compliance.
Real-Time Eligibility Monitoring
Tracking eligibility for healthcare coverage is crucial, especially for employees who may be working fluctuating hours or in seasonal roles. For HR companies managing multiple clients, staying on top of eligibility changes for a large number of employees can be time-consuming and challenging.
ACA-Track solves this issue by providing real-time eligibility monitoring for all employees. The platform continuously tracks employee hours and automatically checks whether each employee meets the ACA’s full-time threshold of 30 hours per week. As employees approach the full-time threshold, ACA-Track sends alerts to HR companies, allowing them to notify clients and offer healthcare coverage before employees qualify under the ACA.
This proactive eligibility monitoring ensures that HR companies can help their clients offer benefits to eligible employees, preventing penalties for failing to comply with ACA regulations. The real-time alerts and eligibility tracking also help ensure that HR companies are constantly up-to-date on each employee’s status, even in dynamic work environments with high turnover and fluctuating schedules.
Streamlined ACA Reporting and IRS Filings
ACA reporting can be a complex and tedious task for HR companies, especially when managing compliance for multiple clients. The IRS requires businesses to file Form 1095-C and 1094-C annually, reporting the healthcare coverage offered to employees and their eligibility status. These forms need to be filled out correctly and submitted on time to avoid costly penalties.
ACA-Track simplifies ACA reporting by automatically generating Forms 1095-C and 1094-C based on the employee data already tracked within the platform. HR companies can easily generate these forms for all of their clients and ensure that all necessary information is included in the reports. The platform also enables seamless electronic filing of the forms with the IRS using its Transmitter Control Code (TCC), ensuring that clients’ reporting requirements are met on time.
In addition, ACA-Track performs real-time error checks on all generated forms, ensuring that any discrepancies or missing data are flagged for correction before submission. This helps HR companies avoid errors and ensures that all filings are accurate, reducing the risk of penalties for late or incorrect filings.
Comprehensive Data Security and Privacy
HR companies manage a vast amount of sensitive employee data, including personal information, payroll records, and healthcare coverage details. Ensuring that this data is secure and protected is a top priority for HR providers. ACA-Track prioritizes data security, offering robust encryption and compliance with industry standards like SSAE 16 SOC 2 Type 1, which ensures that employee data is stored and transmitted securely.
The platform also encrypts all personal identifying information and ensures that sensitive data remains secure within its cloud-based system. Additionally, all data transfers are conducted via Secure Hypertext Transfer Protocol (HTTPS), providing a secure means of transmitting employee data between systems. With ACA-Track, HR companies can be confident that they are safeguarding employee information while managing ACA compliance efficiently.
Dedicated Support for Human Resource Companies
Managing ACA compliance can be a complex and ongoing task, especially when handling multiple clients with varying needs. ACA-Track provides dedicated support to HR companies to ensure that they have the assistance they need to navigate ACA regulations and stay compliant. Each client receives access to a dedicated account manager who can provide expert guidance, troubleshoot issues, and answer any questions related to ACA compliance.
This level of personalized support ensures that HR companies can focus on serving their clients while ACA-Track takes care of the details of ACA compliance. Whether it’s resolving IRS errors, tracking eligibility changes, or generating reports, ACA-Track’s support team is always available to assist with ACA-related issues.
Conclusion
ACA compliance can be a time-consuming and complex responsibility for HR companies, especially when managing the needs of multiple clients. ACA-Track simplifies this process by automating hour tracking, eligibility monitoring, reporting, and IRS filing, allowing HR companies to save time and resources while ensuring their clients stay compliant with ACA regulations.
If you’re an HR company looking for an efficient and reliable solution to manage ACA compliance for your clients, ACA-Track is the perfect tool. To learn more about how ACA-Track can help your HR company streamline ACA compliance, visit ACA Compliance for Human Resource Companies.