Employer Guide & Glossary
ACA RISK MANAGEMENT & REGTECH DIAGNOSTICS
No HCM, ERP, or ACA module does all the ACA work for the employer. Compliance is certainly not a matter of plug-and-play technology alone. Even the magic worked on HCM data & ACA processing by BENEFITSCAPE intelligent regtech is customized to each client’s specific set-up & needs as well as rigorously overseen by BENEFITSCAPE experts.
Every APPLICABLE LARGE EMPLOYERS [ALEs] must be confident their ACA vendor has the proven experience of ACA GOVERNANCE, RISK MANAGEMENT & COMPLIANCE to take on board the latest IRS regulations & requirements as well as their company’s own specific business rules, health plan provisions, and unique employee population.
So the final guidance to employers in this end-to-end overview of ACA reporting & compliance is this. Do not green IRS filing unless you are 100% confident any gaps, anomalies, or other data processing issues have been addressed.
HOW DOES REGTECH TRANSFORM COMPLIANCE?
BENEFITSCAPE ACA_REGTECH has been designed to optimize ACA admin & tax filing on all HCMs. It incorporates and adapts the full complexities, localizations, and latest ACA intelligence to each client’s unique operational considerations.
This enables BENEFITSCAPE to cut the cost, resource burden & common pitfalls of ACA reporting & compliance, while leveraging the full benefits a client’s existing investment in HCM and other systems.
Over and beyond these processing efficiencies, ACA_REGTECH is also constantly trained and interrogated using a large, unique & tightly vetted BENEFITSCAPE corpus of specialist ACA data. This allows BENEFITSCAPE to run intelligent regtech diagnostics on every
employer’s ACA status — both FLAG & FIX DIAGNOSTICS on monthly processed data as well as a full pre-filing IRS simulation of the employer’s final ACA submission.
BENEFITSCAPE works for 1000s of employers of all sizes, in all sectors, and on all HCMs and ACA modules, providing best-in-class ACA services and intelligent FLAG & FIX REGTECH DIAGNOSTICS.
Please do not hesitate to contact BENEFITSCAPE if you have any ACA questions not covered in this guide or for support with any aspect of your ACA compliance.