How Technology Eases Compliance

Employee Management Blogger Affordable Care Act [ACA], Benefit Admin, Benefits, Compliance Leave a Comment

Health insurance is at the core of ACA compliance guidelines, with the bulk of employers needing to provide coverage options for employees along with year-end IRS reporting.1

 

The requirements for ACA compliance for small employers share many important qualities with the requirements for ACA compliance for large employers.

 

The ACA reporting is virtually the same regardless of employer size, with businesses needing to prove that they’ve offered their employees reasonable health care coverage options. With technology such as our ACA compliance solution, compliance is a breeze.

 

Technologies for Simplifying Compliance

 

The ACA requirements for employers with less than 50 employees vary from those requirements for Applicable Large Employers. Mainly, those smaller businesses are able to shop for health insurance plan options through the Small Business Health Options Program. Both small and large businesses must complete year-end reporting to the IRS regarding each employee’s health insurance coverage.

 

Technologies like our workforce management solutions can automate the grey area of compliance, removing guesswork and allowing employers to make quick and fully-informed decisions regarding compliance.

 

The Valiant ACA Solution

 

Our technology for compliance is always running, making complete ACA compliance a simple task. Our system can help by:

 

  • Alerting you when employees become qualified for coverage
  • Providing automatically completed 1094 and 1095C compliance forms for IRS reporting
  • Tracking coverage enrollment or denials for individual employees to prove compliance

 

The automated aspect of a technological approach to compliance allows employers to streamline the plan sign up period and reporting process. Employers can send the right paperwork to eligible employees electronically and generate necessary IRS reporting instantly.

 

Take the guesswork out of compliance by leveraging our leading technologies. Schedule your Valiant demo today to learn more.

 

Sources

  1. IRS – Affordable Care Act Tax Provisions for Employers

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