For small and mid-sized businesses, staying compliant with the Affordable Care Act (ACA) can be a daunting task. With limited resources and smaller teams, it can be difficult to navigate the complexities of ACA requirements, particularly when it comes to tracking hours, determining eligibility, and filing accurate reports. ACA-Track offers a solution that simplifies the ACA compliance process, helping businesses of all sizes meet their obligations without the administrative burden or costly mistakes.
ACA-Track’s ACA Compliance for Mid-Sized Businesses platform is designed to automate ACA tracking, monitoring, and reporting, making compliance manageable for businesses without dedicated HR or compliance teams. With ACA-Track, small and mid-sized businesses can focus on growth and success while ensuring they meet ACA requirements effortlessly.
Automated Hour Tracking for Small and Mid-Sized Businesses
For many small and mid-sized businesses, tracking employee hours and ensuring that full-time employees receive the necessary benefits can be an overwhelming task, especially when there is no centralized system in place. The ACA requires employers to monitor the hours worked by employees to determine eligibility for healthcare coverage. If businesses fail to track this data accurately, they risk non-compliance and potential penalties.
ACA-Track simplifies the process by seamlessly integrating with existing timekeeping systems, payroll software, and other HR platforms to automatically track hours worked by all employees. Whether employees clock in through time clocks, manually log their hours, or track time through mobile apps, ACA-Track consolidates this data into a single platform for easy tracking and monitoring. This eliminates the need for manual entry and ensures that employee hours are accurately recorded, reducing the chance for errors.
By automating hour tracking, ACA-Track enables small and mid-sized businesses to efficiently comply with ACA’s requirements without requiring additional resources or costly systems.
Real-Time Monitoring of Eligibility Status
Eligibility monitoring is another critical aspect of ACA compliance. The ACA mandates that businesses provide healthcare coverage to full-time employees who work 30 hours or more per week. For small and mid-sized businesses, tracking the eligibility of a fluctuating workforce can be a challenging and time-consuming process, particularly when employees’ schedules change frequently.
ACA-Track provides real-time eligibility monitoring by continuously tracking employee hours and checking whether each employee meets the full-time status threshold. When an employee approaches the 30-hour per week mark, ACA-Track sends automatic alerts, allowing businesses to offer coverage before the employee qualifies for ACA benefits. These proactive notifications help businesses stay ahead of compliance requirements, reducing the risk of penalties and ensuring employees are offered benefits in a timely manner.
By automating eligibility monitoring, ACA-Track helps small and mid-sized businesses reduce administrative workload and focus on serving their customers, while ensuring that they remain ACA-compliant.
Efficient ACA Reporting and IRS Filing
ACA compliance requires businesses to file annual reports with the IRS, including Forms 1095-C and 1094-C, to report employee coverage and eligibility status. For small and mid-sized businesses, this can be a complicated and time-consuming task. Without the proper tools, creating these reports can lead to errors and delays, resulting in penalties or even an IRS audit.
ACA-Track makes ACA reporting simple by automatically generating Forms 1095-C and 1094-C based on the employee data already collected within the platform. The software pulls information directly from payroll and timekeeping systems, ensuring that the reports are accurate and complete. Once the forms are generated, ACA-Track allows businesses to electronically file them with the IRS using its Transmitter Control Code (TCC), ensuring timely and accurate submissions.
In addition to simplifying report generation, ACA-Track performs error-checking on all forms before they are submitted to the IRS. This built-in verification process identifies discrepancies and ensures that the reports are error-free, reducing the risk of penalties for late or inaccurate filings.
Data Security and Compliance for Small and Mid-Sized Businesses
Small and mid-sized businesses must ensure the security and privacy of their employees’ sensitive data, especially when managing healthcare coverage and ACA compliance records. ACA-Track is built with the highest standards of data security, ensuring that employee information is protected at all times. The platform is SSAE 16 SOC 2 Type 1 compliant, and all data is encrypted within ACA-Track’s secure cloud-based system.
Additionally, all data transfers are conducted via Secure Hypertext Transfer Protocol (HTTPS), ensuring that sensitive employee information is securely transmitted. This high level of security ensures that small and mid-sized businesses can manage ACA compliance with confidence, knowing that employee data is protected in accordance with industry best practices.
Personalized Support for Small and Mid-Sized Businesses
For small and mid-sized businesses, navigating ACA compliance without dedicated HR or compliance teams can be challenging. ACA-Track provides personalized support for all clients, offering direct access to dedicated account managers who are available to assist with any ACA-related questions or issues. Whether it’s about tracking employee eligibility, resolving IRS errors, or answering questions about compliance deadlines, ACA-Track’s support team is always ready to help.
With ACA-Track, small and mid-sized businesses can have the support they need to stay compliant and avoid costly penalties without needing to hire additional compliance staff. This level of personalized assistance is invaluable, especially for businesses that need to focus their resources on growth rather than managing complex ACA requirements.
Conclusion
ACA compliance is a critical responsibility for small and mid-sized businesses, but managing the requirements can be time-consuming and complex. ACA-Track simplifies this process by automating hour tracking, eligibility monitoring, and ACA reporting, making it easier for businesses to stay compliant without the administrative burden. By leveraging ACA-Track’s powerful features and personalized support, small and mid-sized businesses can meet their ACA obligations with ease, saving time, reducing errors, and avoiding penalties.
If you’re a small or mid-sized business looking for a simple and efficient solution to manage ACA compliance, ACA-Track is the perfect tool. To learn more about how ACA-Track can simplify ACA compliance for your business, visit ACA Compliance for Mid-Sized Businesses.
