ACA Compliance and Reporting Services

OperationsInc’s seasoned experts help your businesses comply with the Affordable Care Act, ensuring that you are appropriately administering benefits to employees while meeting ACA compliance standards. 

We can handle all your ACA needs, whether you need to establish an ACA strategy, address gaps, audit your current practices, or prepare and file Forms 1094/1095 to the IRS. 

 

Why do businesses need to comply with the Affordable Care Act (ACA)?

The Affordable Care Act requires employers with 50 or more full-time equivalents to provide medical benefits to eligible employees within certain design and pricing parameters. These parameters are complex and can change every year. 

If you have more than 50 full-time employees, are a federal contractor, or if you are an employer who is self-insured, you will need to submit 1095 and 1094 forms to the IRS. Employers are required to complete these forms to communicate the benefits of the plan to eligible employees.   

If you offer health insurance to your ACA full-time employees and the contribution amount does not meet certain income thresholds (the amount of which changes yearly), you could be subject to penalties from the IRS under the healthcare law’s employer shared responsibility provisions. Employers who fail to comply may be fined, and the penalty per employee offered unaffordable coverage is more than $4,000 annually, and ESRP penalty amounts rise each year.  Companies with variable wage and seasonal employees are particularly vulnerable. 

 

ACA Compliance Audits and Assessments

Our team of HR and Benefit professionals can help your organization navigate through the complex regulations of the Affordable Care Act (ACA) and to help you develop an effective ACA compliance strategy for your business. 

Our ACA audit and assessment services will help you determine and understand your business’s responsibilities under the ACA and develop strategies to meet ACA compliance standards. 

Our comprehensive ACA audit includes: 

  • Employer classification and current employee benefit plan review 
  • Minimum Essential Coverage (MEC) assessment, including compliance with the affordability requirement 
  • Calculations to determine which requirements are applicable to your business 
  • Analysis of compliance levels reached for current year, including projected penalties and recommended corrective actions 
  • Coordination with Union efforts

 

ACA Reporting Services: IRS Form 1094/1095 Preparation and Filing

To accurately prepare Forms 1094 and 1095, businesses must complete complex monthly calculations of benefits and employee data. However, small- and mid-size businesses often lack the expertise, tools, and time to meet these requirements.  

Our team can prepare and file IRS Forms 1094 and 1095 on your behalf, guiding your organization through the ACA reporting process, including the successful completion and distribution of Form 1095 to all eligible recipients and the submission of Forms 1094/1095 to the Internal Revenue Service. 

Our ACA reporting services can include: 

  • A personalized data collection kit, designed for your business 
  • A comprehensive project plan and timeline for completion to meet applicable IRS deadlines 
  • Review and audit of company data to identify employees (current or terminated) who were eligible for benefits at any point during the calendar year and verification that coverage met affordability requirements and was offered each of eligible periods 
  • Preparation of all required Forms 1094/1095 
  • Submission of Forms 1094 and 1095 to the IRS and any applicable state agencies on your behalf 
  • Ensure compliance with applicable state reporting requirements

 

Ensure ACA Compliance with our Expert Guidance

We are more than one-size-fits-all software or packages. Our HR and Benefits experts understand the changing demands of the ACA and are committed to finding the best solutions for your business. We offer personalized service and affordable pricing, with custom packages that give you exactly what you need and nothing you don’t. Let us navigate the complexities of the ACA so you can focus on your business.