Tools to assist/ensure ACA compliance are now integral to many HR Technology and Benefit Administration platforms, or available as stand-alone products.
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ACA Compliance Tools
Complying with the Affordable Care Act may be the biggest driver for employers to look for new and better technologies to manage employee health and welfare benefits. Employers with seasonal and/or part-time employees face the greatest challenge when it comes to ACA compliance given the complexities of the law pertaining to the calculation of “full time equivalent employees.” The market has responded with new tools to help employers ensure compliance, but it’s not a one-time effort due to anticipated ongoing changes to the law. Sufficient resources are required to successfully track and update systems to ensure employers remain compliant.
Gruppo Marcucci looks at a platform’s ability to successfully track the cost of benefit plans for W2 reporting; distribution of SBCs and exchange notices; number of beneficiaries for PCORI fee and transitional reinsurance reporting; individual employee hours worked during “look back” and “stabilization” periods to determine eligibility; and the ability to calculate group size (FTE count) for the employer mandate requirement.
As the management of human resources shifts from the traditional “employment” model to one where companies manage their staffing needs using a range of solutions, e.g., part-time staff, contingent workers and consultants, Human Capital Management (HCM) technology is increasingly critical to providing a framework for supporting the entire hire to retire process.
Gruppo Marcucci (GPM), a division of Gallagher Benefit Services, Inc., provides outsourcing intelligence and associated consulting to stakeholders in the Benefits and HR Technology & Outsourcing industry. Our in-depth understanding of the service provider market and our vast experience sourcing and implementing solutions is key to our clients achieving full operational success.
Business relationships face similar challenges as married couples. And when communication breaks down, sometimes it's best to seek help from a marriage counselor. Read our blog about resolving conflict between employers and tech service providers. https://bit.ly/2GGLslN #hrtechpic.twitter.com/WM0bNC2kXB