This report helps businesses prepare for the upcoming changes and make them aware of the ways a robust time and attendance system can help
Livonia, Michigan (PRWEB) February 25, 2014
Attendance on Demand announces the release of a report on how to effectively use the latest Affordable Care Act (ACA) employer mandate delay. The ACA employer mandate was delayed until January 1, 2015, for organizations with 100 or more employees. Smaller employers have more breathing room. For employers with between 50 and 99 employees, compliance is further delayed until January 1, 2016.
Large employers face sizeable penalties if they do not offer insurance to at least 70% of full-time employees in 2015 and 95% of full-time employees in 2016 and beyond. But under the Act, who is entitled to receive benefits? How can employers easily track and manage employee eligibility?
Large employers need a strategy now; employee hours in 2014 determine employer liability in 2015.
What should employers do to prepare?
1. Establish measurement, administrative, and stability periods according to the IRS’s safe harbor determination process.
2. View 2014 as a “test period” for reporting systems, ensuring easy ability to capture and report on the information required by the IRS prior to 2015.
The latest ACA report from Attendance on Demand “The Affordable Care Act: Use the Delay Wisely” provides employers with the real story on:
•Best practices for establishing measurement, administrative, and stability periods
•Understanding the IRS's safe harbor determination process
•How organizations can take best advantage of the delay
“This report helps businesses prepare for the upcoming changes and make them aware of the ways a robust time and attendance system can help,” said Beth Baerman, Communications Director at Attendance on Demand.
Attendance on Demand helps determine liability under ACA, save time in ACA reporting and auditing, and better manage your workforce:
•Each employee’s full-time status is easy to determine, with automated calculation of measurement period averages and automated status settings during stability periods.
•The administrative burden of new and seasonal employees is reduced with system-applied initial measurement periods and reminders when they end.
•Measurement periods and status edit logs are archived to reduce risk and save time in audits.
•Notifications alert managers when part-time employees approach full-time status to help proactively manage liability and expense.
Download “The Affordable Care Act: Use the Delay Wisely” report from Attendance on Demand for additional information.