ACA tracking & reporting requirements often go beyond what systems may provide
Finding the right technology and vendor to help comply with the reporting requirements of the Affordable Care Act will be a big decision for businesses in 2015. There are a lot of organizations out there promoting their ability of streamlining the ACA reporting process for businesses. As companies begin to turn to vendors to help with compliance, they should be wary and ensure that they have done their due diligence before buying into a solution that doesn’t meet their needs, and that may have been over promised and under delivered.
There are a lot of existing human resource information systems and payroll systems that can generate required data in the form of employee hours worked and pay levels. The ACA has new information and attributes that need to be tracked and many of these core systems can’t easily produce them. Make sure that you’re asking the right questions from your vendors to ensure you have the right strategic partner in place. The ACA is complicated and requiring a lot from employers. You won’t want to be left behind by those organizations that were proactive in ensuring they had the right tools and technology in place to help.