ACA compliance about to get more difficult

ACA compliance about to get more difficult https://wahospitality.org/wp-content/uploads/2015/06/Risk-500x198.jpg

Explore Minimum Essential Coverage (MEC).  Companies with over 50 employees  can save thousands.

If you have at least 50 full-time equivalent employees—you will soon be facing huge challenges with health insurance compliance. Do you realize the penalty phase has begun?  It’s time to get prepared to address these challenges and defend your company against the IRS!

Employers with variable hour and seasonal workforces are now required by the Affordable Care Act (ACA) to track data on employee eligibility for health insurance.  Most companies, do not have a system in place to track this data efficiently.  In fact, the majority of them depend on complex and difficult to master Excel algorithms, which rely on individual expertise and manpower to function effectively. This is not a sustainable long-term method to monitor the data required to keep company managers accurately informed and organizations out of trouble.

What if you could quickly implement an effective method to track ACA compliance without changing current systems and operations?  RiskRT® can help you through the complex mandates you are now facing.  RiskRT® is an innovative software solution, RiskRT®, is a real-time compliance tool that helps you determine which of your employees are eligible for health insurance coverage. It also shows you who is already enrolled and who opted out.

Connect with RiskRT®today and in real-time, access the accurate information you need to ensure you’re in compliance with Obamacare. Let RiskRT®worry about the complicated regulations—so you can focus on your business.

IRS Reporting

Get the information needed for IRS reports 1094 and 1095

 1. Reports for variable, seasonal, and part-time tracking.

2. Automates IRS Sections 6056 and 6055 reporting.

3. Analyzes data to evaluate the impact of all required measurement periods.

4. Validates employees who will be (or could be) eligible for benefits.

5. Assists in tracking breaks in service and protected unpaid leave.

6. Calculates average hours worked to determine employee eligibility based on employer specific rules.

7. Flags potential Type A penalties for failure to offer coverage.

8. Reports monthly offer of coverage reports and full-time eligibility counts.

9. Allows for multiple payrolls to be combined into one location for analysis.

10. Uses payroll data from any payroll system that can produce a csv file.

11. Tracks control groups.

Automatically Track and  Forecasts when variable hour employees will be eligible for insuranceDrill Down: View who is represented by each number in your control panel.

Be Assured That Every Employee is:

  • Counted when enrolled into an insurance plan.
  • Added as a credit when insurance is waived.
  • Validate Who Is Not Eligible and WhyAutomated Pre-Filled IRS ReportsAvoid Costly Penalties by offering insurance when employees are eligible. RiskRT® Solves The ACA Challenge

 

The making of RiskRT® and why we do what we do.

Pay Plus Benefits started developing browser front-ends and WEB data-warehousing for legacy payroll systems back in the late ‘90s. Now about 1.2 million employees and their employers access their payroll, HR and labor cost analyses through our central data-warehouse. The two largest segments of users are PEOs, their clients and payroll providers such as ADP. This gives us a great cross-section of companies of all sizes to observe, talk to and analyze their upcoming needs.

Over the last couple of years we have studied the details of the PPACA and have watched companies struggle to build their own massive spreadsheets in an attempt to figure out where they stood with regard to ACA and the employer mandate. It became apparent to us that the single largest need was for a simple “Control Panel” where they could see their “look-back period” from a future date.  This becomes even more complicated when companies use multiple payroll engines, which is common with larger enterprises.  RiskRT® will take the exports from all the payroll engines and merge them into a single view for ACA compliance and reporting.

Get help with ACA compliance  – Minimum Essential Coverage

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