“Starting now, and for the next year, many of us in the HR profession are going to be hearing the shouts and gasps from slumbering employers who are waking up to find themselves unprepared for the Affordable Care Act reporting nightmare that awaits,”
– Matthew Kaiser, managing director, HR technology & outsourcing practice at Lockton Benefit Group, in a recent Employee Benefit Adviser article.
ACA compliance has been talked about in excess. It’s been in the national news. It’s been in industry pubs. It’s had hundreds (if not thousands) of webinars delivered in its name. Heck, it’s got an entire practice in many consulting houses. But despite all of the fanfare, ACA compliance has been put off by many employers that just weren’t sure exactly what to do.
It’s completely understandable to be paralyzed by the sheer magnitude of ACA compliance. As Mr. Kaiser noted in his EBA article, “If ever there was a time for HR technology to shine like the new day comforting someone awaking from a nightmare, this is the morning.” That’s the feeling that many employers are voicing.
We understand the ACA challenge employers are facing. It was our goal to develop technology package that provided as much flexibility as possible fit the specific needs of employers. Because, as Kaiser wrote, “For many employers, the data they will need to complete this reporting lies buried in disparate HR systems — often from different vendors.”
This week Businessolver launched its ACA Compliance SuiteSM to solve for as many pieces of ACA compliance as employers need. ACA Compliance Suite includes three primary options: ACA StatusTrackerSM (which measures and applies employee eligibility), 6055/6056 Reporting (which offers a wide variety of 1095-C and 1094-C reporting options), and Exchange Notice (which fulfills the mandate to notify employees of their exchange options).
After all, what employers really need is technology that gives them options for maintaining ACA compliance. As always, our goal is to support employers with innovative technology that is both flexible and nimble to respond to changing legislation.