Let’s face it, the marketplace is confused when it comes to ACA Reporting. Since this is the first year of mandatory reporting, how can you know if your vendor ‘knows their stuff’ when it comes to ACA Reporting? To help employers, we have created a quiz to assist you in researching ACA Reporting Software providers. These questions are specifically designed to help an employer determine if their vendor has the necessary knowledge to support them through the ACA reporting process.
- Do fully insured employers need to report? If so, what type of reporting do they need to do [what forms, etc]?
- Who ultimately gets a reporting form from us as an employer? How does that change based upon if we are fully insured or self insured?
- If we have multiple plan designs, how does the reporting work?
- Does ACA reporting involve protected health information (PHI)? If so, does your company enter into a Business Associate Agreement with its clients?
- When was your last HITECH audit?
- Is your ACA reporting solution even built yet?
- Does your ACA reporting software generate the codes for form 1095C? Does the software create the correct codes, or do we input these manually for each person?
- How long will the data be stored?
- Could you explain the ACA reporting safe harbors?
- If a group offers a Health Reimbursement Account (which is considered a self-funded plan), in coordination with a traditional fully insured plan, how will this work in terms of ACA reporting?
- Can an employer qualify for multiple forms of transitional relief?
- Is it necessary for an employer to track enrollment declination?
- Does each employer need to request a transmitter control code (TCC) from the IRS? If so, how?
- If we have an opt out bonus, how is that calculated and accommodated for in the ACA reporting?
- How does non-calendar year transitional relief work?
We hope you find this quiz beneficial. For answers to these questions and more, simply contact us from the support tab.