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ACA Reporting / Benefits / Compliance

Did you know BenefitWerks offers ACA Reporting and Tracking?

By Janine Huss | Published February 26, 2024 | No Comments

Large employers are required to file 1094C and 1095C reports to comply with the Affordable Care Act.  Occasionally employers opt to do this reporting internally, creating a great deal of complex extra work for their staff.  The most common large employers use for reporting is a third-party vendor.  This option usually creates additional work for staff but lessens the load.

BenefitWerks’ HR and Benefits Administration system allows us to provide ACA reporting and e-filing with ease.  We do this by using the eligibility, enrollment, dependent, and COBRA participation data in our system to code 1095C forms accurately.  Avoid the stress and hassle of using an ACA compliance vendor that requires you to do additional work.

BenefitWerks has a Tracking tool for variable hours, ensuring you are offering coverage at the right time.  The tracking tool requires the exchange of hours data from your payroll system.

Avoid IRS penalties!

Calendar year 2023 penalties for failing to comply with ACA employer shared responsibility provisions have been updated. 

The Two Types of ACA Penalties 

4980H(a) Penalty is $2,880 per full-time employee for failing to provide minimum essential coverage to at least 95 percent of its full-time employees and their dependents, and any if full-time employee obtains coverage through the exchange. 

4980H(b) Penalty is $4,320 annually and applies if both statements are true: 

• The employer-sponsored coverage is unaffordable or does not provide minimum value.
• One or more full-time employees receive subsidized coverage through an exchange.