ACA
Elevate

ACA filing solutions for employers, ensuring 100% compliance with the 6055 & 6056 reporting requirements.

Features that benefit you:

24/7 Secure Online ACA Portal

Variety of ACA Training Materials

Simple to Complex Employers Handled with Ease

Full-Admin Solutions Available

Access to Compliance Experts for Support with Elevate

Corrections Support Available

The Affordable Care Act (ACA) imposes demanding reporting responsibilities on employers each calendar year since 2015. The reporting stipulation states that an information return will be prepared for each applicable employee, and these returns must be filed with the IRS using a single transmittal form (Form 1094-B & 1095-B or Form 1094-C & 1095-C). The filing requirements are based on an employer’s health plan and the number of employees. Inability to file or report correctly will result in numerous and expensive fines for employers.

Noncompliance is expensive

Penalties

The IRS can assess $310 penalty per return for late, incomplete or incorrect forms. Also, if the IRS determines that the failure to file is the result of intentional disregard, the penalty is $630 per return without limitations.
In addition to filing reports with the IRS, the ACA requires employers to provide certain forms to employees, similar to the existing W-2 reporting requirements. It is important for employers to be aware that the penalties apply separately to both requirements. For example, a failure to file a Form 1095-C with the IRS and a failure to furnish the same Form 1095-C to the employee will result in two penalties of $310 each, or $620 per affected employee.
The IRS has started enforcement of the ACA employer mandate penalties.

Best-in-class service

ACA Compliance Specialists available for each ACA Elevate client
Average hold time is fewer than 60 seconds
Corrections support available for ACA Elevate clients

Who must comply with ACA Filing?

ACA Elevate Decision Tree

ACA Elevate, a Simple Solution to a Complex Problem

Take away the stress and complexity of ACA coding with assistance from our compliance experts
Works off of a simple MS Excel workbook upload with employee and coverage data at year-end. Focus on key deliverable’s for employers with simpler reporting needs. Perfect stand-alone solution for companies who don’t want to pay extra to upgrade their payroll platform
Real time access to training videos and Q&A guide, your ACA workbook, and the ability to view draft forms
Automatic access to eFiling with the IRS, plus mailing services and streamlined corrections process available
BASIC’s ACA Elevate assists employers who must comply with state mandates. New Jersey, Washington D.C., California, Rhode Island, and Vermont are the states with individual mandates which require residents of those states to maintain minimum essential healthcare coverage or pay a tax penalty.

To ensure your company is compliant with the ACA Reporting, request a proposal today!

About ACA

What is the Affordable Care Act (ACA)?

The Affordable Care Act (ACA) is a significant healthcare reform law enacted in the United States in 2010. It aims to increase access to affordable health insurance, improve the quality of healthcare, and reduce overall healthcare costs. Key provisions include the establishment of health insurance marketplaces, expansion of Medicaid, protections for individuals with pre-existing conditions, coverage for young adults under their parents’ plans, and requirements for essential health benefits in insurance plans. Despite ongoing debates and changes, the ACA remains a significant piece of legislation shaping the American healthcare landscape. It also brought reporting and compliance requirements for certain employers.

What is ACA reporting?

ACA reporting refers to the requirement for applicable large employers (ALEs) under the Affordable Care Act (ACA) to report information about the health insurance coverage they offer to their employees. This reporting is typically done annually to the Internal Revenue Service (IRS) using Forms 1094-C and 1095-C. The purpose of ACA reporting is to ensure compliance with the ACA’s employer mandate and to provide the IRS with information to verify whether individuals have the minimum essential coverage. ACA reporting helps the IRS enforce penalties for non-compliance and allows individuals to claim premium tax credits if they purchase coverage through the Health Insurance Marketplace.

What is the ACA employer mandate?

The ACA employer mandate, also known as the employer shared responsibility provision, requires applicable large employers (ALEs) to offer affordable health insurance coverage that meets minimum value standards to full-time employees and their dependents, or potentially face penalties. ALEs are generally those with 50 or more full-time employees, including full-time equivalent employees. Under this mandate, ALEs must offer minimum essential coverage to at least 95% of their full-time employees and their dependents, or they may face penalties if at least one full-time employee receives a premium tax credit for purchasing coverage through the Health Insurance Marketplace. Compliance with the ACA employer mandate involves careful tracking and reporting of employee hours and health insurance offerings to ensure adherence to the law’s requirements.