Compliance Management Support for the HR Professional
This post is for HR professionals who are tasked with Affordable Care Act compliance management for their companies. We hope you find it useful.
While there might not be a “typical day” in the life of an HR professional, as you have varying duties, one recurring theme is that there may be a lot of responsibilities on your plate.
With all the varying responsibilities, an HR role may have its challenges, but a typical day is probably never boring.
Fielding questions from employees or management, setting priorities, and helping employees who stop by your office might be a part of your job.
Recruiting, handling internal concerns or complaints, or even employee safety compliance might be issues you handle on a regular basis.
Maintaining personnel records, preparing documents, and introducing company-wide initiatives could be part of your varying duties.
Exit interviews, offboarding, and communicating with leadership may also be tasks you manage.
People skills are required for talent management, supporting employees, and creating a great employee culture.
An HR Management role may add to the diverse skill set you possess. You may be handling things like industrial relations, succession planning, and launching inclusion programs.
Among a myriad of other duties, handling various administrative tasks and compliance management may be part of your diverse list of job duties.
Compliance management is crucial as penalties and fines can be cumbersome and could even threaten the financial health of a smaller business.
You may be required to ensure your company is compliant with paid sick leave or family leave regulations. Tracking compliance laws across states and localities may be challenging regarding leave-benefits or overtime regulations, especially as the laws evolve or change.
Some HR professionals are also required to help navigate compliance issues involving mergers or downsizing logistics.
In addition to all of the varying responsibilities that you handle, ACA compliance management provides its own unique set of challenges.
Regarding ACA compliance, HR professionals often tell us that successfully managing compliance is extremely challenging, a “hassle” or “a headache.”
Data accuracy can be complicated or time-consuming. Some HR professionals need to collect ACA-related employee data from multiple sources or companies. Hence, employee data may not be available in a timely manner in order to meet the forms filing deadlines.
Making correct eligibility determinations is a challenge for some organizations, especially if employee hours/statuses are fluctuating and one is tracking them manually.
Also, due to internal resource issues, personnel may not be available to move through the ACA reporting process in a timely manner. Or perhaps there is a need for more expertise and external support regarding compliance.
ACA compliance software affordably automates and streamlines the work of managing ACA data. Routine reports guide compliance-related actions and decisions. ACA software should also improve and simplify year-end compliance reporting.
ACA Compliance software differs from simple ACA reporting software in that it contains the data for each employee required for compliance throughout the year. It accumulates information on hours worked, offers extended, criteria for evaluating the affordability of offers of coverage, whether offers have been accepted or not, spouse and child coverage and more. Reports alert for actions needed to help prevent mistakes or errors that incur penalties.
For some companies, such as that described above, simple reporting software can work. For any circumstances beyond that, the risk of incurring penalties increases the value on an investment in compliance software. Employers can use the reports and alerts to manage their ACA-related decisions and avoid the trouble and cost of avoidable mistakes.
Passport Software’s ACA solutions can help if you are tracking manually or your current ACA tracking software or solution is too expensive.
Our ACA software and ACA Full Service options are affordable, and we provide great support. Passport Software’s IRS-certified ACA Software is easy to use, and we are IRS-approved to optionally file on behalf of our software customers.
If you would like to turn over the entire process to us, our Full Service option will help you ease the burden of compliance and reporting – just provide a spreadsheet with employee data, and we do the rest.
Our support team is knowledgeable and friendly, so if you are tired of the hassle of ACA compliance management, we can help ease the burden. We also provide penalty relief consultation services and have helped many companies drastically reduce or avoid penalties.
Call 800-969-7900 to learn more. Or, contact us – we are there to help.