Is Software Enough for ACA Reporting and Compliance?
Don’t get us wrong, we believe that ACA reporting software is important. Really important. Our solution is built on the best. But is it enough? We’ve spoken with some smaller organizations where it might be but for many, it’s just not. At Tango Health, we know the ACA can be very complex and staying up to date with ACA reporting to remain compliant isn’t easy. Many organizations look for help from an ACA reporting software partner to pull all their data together and file with the IRS on time.
What they may not realize is that having a designated expert on their side is not only possible, but essential to keeping up with ACA reporting and identifying possible data issues that can impact compliance early on. That’s my role as a Client Manager. Here at Tango we’re called Client Managers, not Account Managers because we truly care about our clients and see them as more than just an account. I work with my clients throughout the year and we discuss any data issues I discover when creating their monthly reports. I also keep up with changes to the ACA so that I can bring thought leadership and knowledge when it’s needed most. Here’s what I’ve heard from my clients about why they like having a designated Client Manager.
As the designated ACA client manager for my clients, I really get to know them and the challenges they face. We have the same goals—identify and quickly fix any data issues, file accurately and on-time, and minimize any risk of penalties. As an extension of their team, I help take the compliance burden off them. My clients come to me first for any ACA questions or concerns and I do everything I can to own the issues and keep them compliant.
Monthly Compliance Reviews
I walk my clients through their compliance reports every month. If your account manager isn’t, he or she should be, it’s one of the best ways to minimize the risk of penalties. It is essential to review measurement results as well as overall compliance on a monthly basis. I review measurement reports with my clients each month, as new hires are in various measurement periods and will need to be offered coverage quickly if they become eligible. Looking at affordability results as well as the overall MEC percentage for my clients is also one of my key responsibilities. If your account manager is not already doing this for you, you may face an end-of-year rush to validate and correct data prior to the IRS 1094-C and 1095-C deadlines.
It can be confusing to filter through reports and data to determine your company’s overall compliance, which is why I not only walk my clients through their monthly compliance reports, but also proactively identify potential areas of risk.
Knowledgeable ACA Expert
Is your account manager an ACA expert you can utilize to stay informed? And by expert, I mean your account manager should know the ins and outs of ACA compliance and provide you with the latest updates on any news, laws, or changes to minimize any misunderstanding or confusion happening in the world of the ACA. My clients know that they can turn to me for guidance when they have a new acquisition or when they are unsure if they need to offer benefits to an employee who just returned from a long leave. Maybe you are unsure about penalties or fine letters you’ve received or heard about, whatever the case may be, you should be able to rely on your account manager to provide you with the answers and guidance you need to be successful.
Research and Project Manager Guru
It can be time consuming and frustrating to find and research fixes for data issues that impact the accuracy of your company’s 1094-C and 1095-C’s. As a Tango ACA client manager, I identify issues, do the research and provide timely solutions to my clients. I build out a plan, provide timelines and ensure my clients stay on track.
The Tango Difference
Here at Tango Health, we help clients solve ACA reporting and compliance challenges by providing expertise, visibility and control over their employees’ health benefit statuses with fully outsourced, end-to-end software and expert services. There are plenty of software solutions but our ACA Client Managers make all the difference. We monitor ACA compliance year-round and specialize in complex business such as government, higher education, healthcare systems and companies with union or part-time employees.
Our Designated Client Managers partner with you to plan and manage the ACA reporting process including: data audits and alerts; regular meetings to review reports, review of 1094-C and 1095-C forms for accuracy; printing of 1095-C forms and filing 1094-C forms with the IRS; assistance with responses to IRS audits and subsidy notifications from Healthcare Marketplaces; and notifications and analysis of changes in the ACA.
If you don’t have a client manager to guide you or your current software isn’t able to aggregate all your data and identify potential issues, you can learn more about the Tango Health ACA Compliance and Reporting Solution here. We’d love to help.
Categorized in: ACA