Are you feeling overwhelmed by the complexities of the Affordable Care Act?
First of all, you are not alone!
If you need software for management & reporting, look no further than the ACA Management Tool®.
With the ACA Management Tool® on your side, you don’t have to feel overwhelmed anymore.
ACA Management Tool® is here to help. ACA GPS developed it to be the best in the industry. You’re probably already using a payroll, scheduling, or human resource information systems software to keep up with your employee records, right? Integrating with the ACA Management Tool® is easy. After a few simple uploads, you can quickly and easily determine Applicable Large Employer Status. You’ll also know which employees qualify for coverage. You can then make offers and document responses, and generate the necessary IRS forms for reporting.
New regulation means new IRS forms
In 2014, the IRS and Treasury issued final regulations on the Employer Shared Responsibility provisions under section 4980H of the Internal Revenue Code. Under IRC §6055 and §6056, new forms must be filed with the IRS. These forms are the 1094-B & 1095-B or 1094-C & 1095-C.
NOW is the time
If you have 50 or more Full Time Employees (or Full Time Equivalents) you need to be ready to report to the IRS in early 2017. You should be tracking the information needed for those reports NOW. (Employers that had 50-99 employees in 2014 & were exempt from assessable payments in 2015, that transition relief does not apply for 2016. These employers will need to report to the IRS in early 2017!)
The deadlines for Tax Year 2016 reporting are:
Form 1095 postmarked to employee or responsible individual: March 2, 2017
IRS filing deadline – mailing: (employers filing less than 250 forms): February 28, 2017
IRS filing deadline – electronic: March 31, 2017
Your options are “Pay” or “Play”
Under the Employer Shared Responsibility provisions, if employers do not offer affordable health coverage that provides a minimum level of coverage to their full-time employees (and their dependents), the employer may be subject to an Employer Shared Responsibility payment if at least one of its full-time employees receives a premium tax credit for purchasing individual coverage on one of the new Affordable Insurance Exchanges, also called a Health Insurance Marketplace.
Visit www.acagps.com to learn more.
Visit www.acagps.com/products to purchase a Reporting Only Subscription today.
Email email@example.com to receive more information.
Register for a demo at ACA Management Tool® Webinar Registration
Editor’s note: This article was updated on 12/1/16 to include information contained in Notice 2016-70 published by the IRS on November 18th, 2016 which extends the due date for furnishing to individuals the 2016 Form 1095-B, Health Coverage, and the 2016 Form 1095-C, Employer-Provided Health Insurance Offer and Coverage, from January 31, 2017, to March 2, 2017. Thank you.
Don’t let ACA reporting responsibilities overwhelm you any longer!
ACA GPS has developed the ACA Management Tool® to assist employers (Large and Small) with achieving compliance with the ACA. We are authorized to transmit 1094/1095 B and C series forms for private businesses, government entities, and insurance companies.
The products we offer include:
Full Subscription – includes tracking, analysis, eligibility, affordability, offers, responses, and:
Initial Subscription for one year term
Single Company Set Up (single EIN) for up to 1,000 employee records. (Additional employee records are just $1.00 ea)
Price is $1,995.00 (Additional EINs reporting under common ownership are just $900 ea)
The Full Subscription solution is best for employers that need to track hours to determine eligibility, and want to keep up with their offers & responses, etc, all in one place. This subscription includes creating printable PDF versions of the 1095 C (or B) forms required under IRC §6055 and §6056. The Tool® will e-File the forms using our TCC number, on behalf of the employer after review.
We also offer Reporting Only Subscriptions which employers can use to create printable versions of the 1094/1095 (Bs or Cs) for distribution to the employees & e-filing with the IRS. This subscription is appropriate for employers that need a reporting solution, not a tracking solution. A Reporting Only Subscription is $825 per EIN, for up to 1,000 Form 1095’s for Tax Year 2016. (Additional 1095s are $.50 ea).
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