West Des Moines, IA (PRWEB) April 16, 2014
Businessolver, a leading benefits administration outsourcing partner for mid- and large-market employers, launched its solution for employer time tracking requirements in accordance with the Affordable Care Act (ACA) last week.
Businessolver's ACA StatusTracker(TM) is a solution aimed at helping employers manage their ACA time tracking requirements, determine benefit eligibility and support enrollment within one system to reduce confusion and manual processes.
ACA StatusTracker(TM) is a comprehensive time- and status-tracking solution to help large employers maintain compliance with ACA. The technology allows employers to configure settings based on their unique organizational time tracking needs. In addition, ACA StatusTracker(TM) offers complete reporting capabilities to satisfy IRS requirements. All of the time tracking configuration and reporting is done within Businessolver's proprietary benefits administration technology, Benefitsolver(R).
Businessolver's time-tracking solution affords employers the ability to configure their own measurement, stability and administrative periods, track overlapping new hire and ongoing employee statuses, apply eligibility status directly to an employee's record, and monitor reporting related to ACA tracking requirements, including: Code 6055, Code 6056, Form 5500, PCORI IRS Form 720, Transitional Reinsurance Reporting, and W-2 Reporting.
"There is a lot of noise and focus on employer-mandated measurement and reporting as required by ACA," said Businessolver President & CEO Jon Shanahan. "We have developed a thoughtful and simplified solution that is a part of our single-source platform to limit any potential error related to the management of eligibility and hours tracking."
To learn more about Businessolver's solution, visit http://www.businessolver.com/landing/aca-tracking-eligibility/.
Businessolver is changing the way companies think about, view, enroll in, and engage in benefits. They provide online benefits administration services and benefit administration outsourcing services to mid and large-market companies. Its proprietary web-based platform, Benefitsolver, automates employers' insurance benefit administration by consolidating multiple insurance carriers into a single platform as well as configuring the process to meet employer's unique enrollment requirements. Businessolver has a simple mission: delight clients in every interaction. For more information visit http://www.businessolver.com.