Attendance on Demand Releases White Paper on Preparing for ACA Reporting
(November 2015) — Attendance on Demand has released its newest white paper, "ACA Prep Checklist: Are You Ready?" It speaks to the importance of preparing for Affordable Care Act (ACA) reporting requirements due to the IRS in the first quarter of 2016.
Starting in 2015, applicable large employers (ALEs) have been required to comply with ACA requirements and begin reporting coverage data to the IRS in the first quarter of 2016.
In addition, ALEs are required to provide reports to employees and file new ACA forms with the IRS in the first quarter of 2016 based on employment data from 2015. ALEs with 100 or more full-time (or equivalent) employees will be assessed penalties for non-compliance. In 2017, this will expand to include ALEs with 50 or more full-time (or equivalent) employees.
"Employers need to thoroughly educate themselves on ACA requirements and ensure their business is ready to comply," said Beth Baerman, Director of Communications at Attendance on Demand.
This white paper outlines the steps needed to prepare for ACA tracking and reporting requirements. ACA penalties can be steep. Employers need to ensure they're on track by determining if they're an applicable large employer, assessing coverage costs and penalties, tracking and reporting monthly employment data in 2015, managing employees' status, and filing ACA forms on time.
About Attendance on Demand
Attendance on Demand supports the labor management needs of thousands of companies and more than three-quarters of a million employees across North America. Launched in 2006, Attendance on Demand is a rapidly deployed, cloud-based solution that minimizes a company's risk and technology investment while providing advanced features for securely managing labor data – calculating pay rules, scheduling employees, budgeting labor, automating recordkeeping for labor law compliance and managing employee status and reporting for the Affordable Care Act. With standard uptime over the industry average of 99.995% and above average customer retention rates, Attendance on Demand removes the worry of maintaining expensive infrastructure. An extensive North American distribution network helps organizations use Attendance on Demand to reduce labor expenses and improve decision-making.