ACA Central

Complying With The Affordable Care Act Isn’t Easy

But We Can Simplify The Process For You

Despite the uncertain nature of the ACA, you can’t afford to wait to comply with the requirements that the IRS administers and enforces. Thanks to the individual and employer mandates, you must meet a number of conditions or face penalties.

These uncertainties and requirements have likely left you with a number of complex questions, questions that can often prevent you from focusing on the work that you do best. Rather than spend inordinate amounts of time trying to navigate the complexities of the Affordable Care Act, rely on Performance HCM to guide you through the process and make things as simple as possible.

ACA Reporting
IRS Annual Reporting Requirements
ACA Compliance & Tools

If you employ 50 or more full-time equivalent employees, you’re considered an Applicable Large Employer, or ALE. This means you must offer minimum essential coverage that is both affordable and provides minimum value. If you don’t meet these conditions, or if you simply file incorrect forms, you may be subject to significant fines and countless headaches.

Despite the fact that the Affordable Care Act requirements have been imposed for a number of years now, that doesn’t change the fact that the process of complying is complicated and confusing. If you don’t have an efficient solution for collecting and managing the necessary employee and benefit data to satisfy Section 6055 and 6056 reporting requirements, you run significant risk for incurring penalties and excise taxes. Not to mention all the time you’ll spend trying to aggregate and parse the necessary data.

Performance HCM offers a robust ACA reporting solution through iSolved, housing all of the necessary data — dates, employee status and more — in a single source. Some of the things you can accomplish with iSolved include:

  • Conduct ALE tests to calculate FTEs and determine ALE status
  • Perform affordability reports, which determine if health benefits are considered affordable based on ACA safe harbors
  • Use projection tools to estimate new minimum essential coverage affordability
  • Produce and file applicable 1094 and 1095 forms
  • Produce and deliver employee forms
  • Create detailed ACA evaluations to determine ability to produce and file the applicable annual forms.

While you may not agree with the strict ACA reporting requirements imposed by the IRS, you still have to comply. As such, it’s critical that you understand what is expected of you so you don’t cost yourself undue time, money, and stress.

If you’re an ALE, you must provide each of your full time employees with a 1095-C form, which illustrates whether coverage was properly offered and utilized. You must also act as a resource for your employees, helping them with any questions and guiding them through the filing process. That means you need to be intimately familiar with all of the ACA requirements so you can offer proper assistance.

Performance HCM simplifies the filing process by offering more than a comprehensive reporting solution; we also provide a number of documents which help explain the complexities of the Affordable Care Act and its provisions.

Feel free to download the documents below so you can spend less time deciphering the bill and more time ensuring you comply.

Don’t Let ACA Requirements Paralyze You

Reach Out to Get The Help You Need

If you want to learn more about how we can alleviate the frustrations of complying with ACA requirements, contact us today!