Employers have the ability to pay a low onetime fee and have all of their ACA Reporting needs taken care of
(PRWEB) August 12, 2015
Obamacare's Employer Mandate will quietly take affect for large companies across the US starting this year. Companies with 50 or more employees must now provide affordable insurance to their employees or risk paying heavy penalties and fines under the Employer Mandate.
For most companies, providing compliant insurance to employees will not be a problem as they have been doing this for some time. However, the reporting of the required information on those employees as outlined in the mandate will be a different story entirely. Gathering the required health coverage and payroll data on all of these employees is proving to be an arduous task.
In addition to the items above, the IRS forms themselves can be extremely confusing. With the implementation of these tax forms as well as new codes used in these forms, employers are becoming increasingly frustrated.
Employers are beginning to evaluate different forms of ACA reporting software. However, once analyzed many of these so called solutions fall short. A majority of these "solutions" to employer reporting do not even have the built in logic to determine the appropriate codes for lines 14, 15, and 16 of the form 1095C. This once again places the responsibility back on the employer. Not to mention the difficulty in obtaining a simple answer with regard to pricing and filing options. How would any large employer ever find the time to learn an entirely new system on top of all of their normal responsibilities? The simple answer is that they won't have the time and it will cost them more money.
All of this inevitably brings us to the solution of having someone else do the reporting as a service. Employers have the ability to pay a low onetime fee, provide basic information about their company, insurance data, and payroll data, and have all of their ACA requirements taken care of.
Anyone looking to learn more about having this reporting done as service can find out more information at one of the following live webinars: