Solutions for ACA Compliance
An online story by Carol Patton for Human Resource Executive titled “Wrestling with the ACA’s Reporting Requirements” referenced survey results showing that more than half of the large employers responding felt unprepared to comply with the Affordable Care Act’s regulatory requirements. The executives surveyed felt that exchange notices, penalties and forms were more complicated than expected, and gathering data from payroll, time and attendance, benefits and absence management systems was more challenging than initially thought. An ACA compliance solution was and still is a true need.
Providing ACA compliance services for clients in a wide range of industries, including Hospitality, Health Care, Higher Education, Manufacturing, High Tech, Staffing and Temporary Services, Logistics and Shipping and more, Tango Health has an ACA software solution for gathering and checking this data that has simplified compliance and actually saved companies millions in penalties and fines.
The article also suggests that companies form a committee of C-suite leaders to identify the types of data to be collected and institute realistic procedures for gathering it. At Tango Health, we go a step further – many HR teams do not have the budget to effectively tackle compliance challenges, and the CFO is often not aware of the costs of compliance. Our white paper, “ACA Compliance: Everything CFOs Need to Know About the Financial Risks and Opportunities” identifies the CFO’s role in compliance and can help CHROs and HR teams address the costs of compliance – and non-compliance – with the CFO in order to build awareness.
Need help with the ACA? We offer a full-service ACA Compliance & Reporting solution and specialize in large, complex businesses. Learn More About our ACA Solution.
Categorized in: ACA