Arcoro

Simplify Open Enrollment & Maintain Compliance

The content explains how automated, cloud-based ACA Compliance Software simplifies the complex and time-consuming Open Enrollment and ACA reporting process for HR administrators by providing always-updated IRS forms, easy e-filing of 1094 and 1095 forms, and integrated, secure employee ACA profiles that streamline compliance management and reduce stress and errors.

Navigating the intricacies of healthcare, the Affordable Care Act (ACA), and the strict compliance standards that come with it during Open Enrollment can easily overwhelm HR administrators. The data required for ACA compliance can be one of the most time-consuming and aggravating operations they can undertake.

If you’re not using a smart ACA Compliance system, you’ve probably found the experience of ACA’s enrollment and reporting requirements to be stressful, time-consuming, or confusing – and you’re not alone. The stakes have never been higher for your employees and your company’s bottom line.

The solution for high-performing HR teams continues to move toward an automated, cloud-based system. A solid ACA Compliance Software, like ours, offers these benefits:

1. The Most Up-to-Date 1094 and 1095 Forms

The federal government’s required 1094 and 1095 forms can change at any time. With compliance-focused software, the forms are always updated so you don’t run the risk of submitting the wrong version. Updates happen seamlessly in the cloud.

Bottom Line: No more searching for the right form, saving you time and reducing stress.

2. ACA Reporting Made Easy

1094 and 1095 forms need to be filed with the IRS. ACA compliance software can e-file them in a timely fashion and allows for multiple EIN reporting.

Bottom Line: No more printer issues, postage costs, or ink refills. Plus, it supports green initiatives.

3. Personalized Employee ACA Profiles (for Employers)

ACA Compliance Software integrates with other HR modules and systems, pulling employee data into your ACA reporting system. This central location:

  • Provides managers with a one-click overview of ACA compliance
  • Stores employee data securely
  • Allows coverage administration in one click
  • Stores past and present Stability and Lookback periods, as well as average hours worked per week and month
  • Can print 1095-C forms
  • Hosts past and present health coverage information
  • Offers employee coverage details, showcasing current packages and indicating when coverage was offered

Bottom Line: A one-stop ACA shop empowers employees, which is valuable in an employee-centric environment.

4. Simple Eligibility Determination

Confusion over eligibility is a major source of open enrollment stress. Automating your compliance system provides system-determined eligibility, age-banded medical clarity, cost recalculation for all covered members, and an easily navigable portal.

Bottom Line: The software analyzes employee data to deliver transparency without complication.

5. Time-Saving Capabilities

Customers have reported cutting the reporting process time in half.

Bottom Line: With hours saved on ACA Compliance oversight, your HR team can focus on core responsibilities and strategic HR management.