The Affordable Care Act (ACA) was established with the aim of making health insurance more affordable and available to Americans. However, navigating the complex and constantly changing reporting requirements linked to the ACA can be complicated. A deep familiarity with the nuances of ACA reporting is essential; if it is done incorrectly, organizations face steep fines.
Smart HR offers a full range of ACA reporting services. Our human resources consultants will work with you to implement proper procedures to ensure compliance with the Employer Shared Responsibility provisions of the ACA.
An Overview Of ACA Compliance Administration Services
Tracking and Measuring
- Affordability tracking
- Alerting employers of changes to their eligibility status
- Monthly and look-back measuring
- Tracking and determining full-time and part-time statuses
- Producing and filing form 1094
- Producing, printing and distributing form 1095
- Generating codes for form 1095-C
- Data controls that assure logical consistency
- Data archiving and warehousing
- Ability to accept data from multiple sources
- Secure and flexible data transfers
- Support for exchange notice appeals
- Support for premium tax credit appealsv
- Audit defense support
- Employee Coverage Tool (ECT) form
A Closer Look At Our ACA Reporting Services
1094 and 1095 Forms
We can create 1094 and 1095 forms and any related documents your business needs to file.
All employers with 50 or more employees must use 1094-C and 1095-C forms to report fully insured and self-insured plans and submit them to the IRS. Those with fewer than 50 employees who are providing employer-sponsored self-insured coverage must use 1094-B and 1095-B. We can help you get these forms completed accurately and on time.
State Coverage Mandates
Several states and the District of Columbia now have coverage mandates of their own, and we can help with the required reporting at both the state and federal levels.
Flexible Service Options
We offer a comprehensive Affordable Care Act service that includes everything needed for full compliance with ACA requirements, such as full-time and part-time tracking with affordability determinations, 1095-C code generation and form management as well as expert support throughout the process.
For employers that only need assistance with the Affordable Care Act’s reporting requirements, we provide a reporting-only option that includes generating 1095-C codes, printing and distributing 1095-C forms, and preparing and filing 1094-C forms, along with expert support.
The Benefits of Outsourcing ACA Reporting to Smart HR
Dealing with ACA reporting in-house requires significant time and resources. Here are just a few of the ways our services can help your business.
- Save time and energy so you can focus on more essential aspects of your business
- Avoid significant ACA penalties for non-compliance
- Reduce frustration and uncertainty
- Ensure secure storage of ACA information in case of compliance checks or audits
Reach Out To The Human Resources Experts At Smart HR
Between tracking, measuring and reporting, ACA compliance requires a lot of work and attention to detail. The human resources experts at Smart HR can help with this and many other administrative tasks related to human resources, freeing up your staff to focus on your core business.