AmCheck Announces Health Care Reform Solutions to keep America’s Businesses in compliance with the Affordable Care Act
August 21, 2013 // Franchising.com // As significant provisions of the Affordable Care Act (ACA) take effect in 2014, employers will see changes to the way they handle payroll reporting, administration, monitoring, and employee benefits. AmCheck, Inc., a leading provider of payroll, human resource, insurance and benefits outsourcing for employers of all sizes, is guiding employers through these changes with the introduction of new wide-ranging solutions that help employers and employees prepare for the Employer Shared Responsibility (ESR) and Individual Mandate provisions of the ACA.
"Employers are concerned, as they should be. Legislation of this magnitude affecting employers has not been seen since the passage of Medicare and Medicaid in 1965. With hundreds of provisions, the Affordable Care Act is a complicated piece of legislation that requires a substantial amount of obligation from employers," said Dean Lucente, Managing Partner of AmCheck. "AmCheck is committed to guiding and supporting America's businesses with the tools, monitoring and reporting resources they need to navigate Health Care Reform."
AmCheck Employer Shared Responsibility Services
The Employer Shared Responsibility (ESR) provision of the Affordable Care Act takes effect January 1, 2014 for employers with 50 or more full-time employees (taking into account full-time equivalent (FTE) employees). Employers face four specific compliance needs.
The primary considerations for an employer include:
- Performing calculations to determine if the employer is an applicable large employer who must offer health coverage to full-time employees.
- Determining which employees are considered full-time employees and therefore put the employer at risk for penalties if not offered adequate coverage.
- Evaluating if the coverage they offer meets the minimum standards of actuarial value and affordability which would put the employer at risk for penalties if it does not.
- Being prepared to meet IRS requirements for end-of-year reporting
The AmCheck Affordable Care Act Report makes it easy for business owners to determine if ESR applies to them, and what actions they need to take to meet the requirements of this provision. The basic service includes and the report that tells employers what they need to know to be compliant.
The Affordable Care Act Report - Key Deliverables:
- Identifies the average FTE's across a "measurement" period.
- Evaluates the wages paid as a factor in determining "Affordability" of Health Coverage.
- Illustrates the Running Monthly Average shown.
- Compiles 17 Fields of important data into one report.
- Report makes analysis and monitoring easy and transparent.
Additional Health Care Reform related services from AmCheck
- Affordable Care Employer Impact Studies
- Certified Healthcare Reform Specialist® (CHRS) consultants available
- Benefit Plan Design
- Benefit Plan Administration
- Dependent and Beneficiary Tracking
- Insurance Invoice Payment Remittance, Auditing and Reporting
- Payroll, Taxation and ACA Reporting
- Time and Labor Management
- Employee Acknowledgements
- Electronic Carrier Communications
- Benefit Eligibility Tracking
- Online Benefit Enrollment
The IRS may require applicable large employers to report the number of hours worked for each worker by month starting with tax year 2014. It’s important for employers to prepare for these requirements now. In order to report hours on a monthly basis, employers may need to use a time and attendance solution, such as the solutions found here: http://www.amcheck.com/employee-time-attendance-software/employee-time-attendance-systems-solutions-software.
For more information on HealthCare Reform Compliance and Guidance services by AmCheck, visit http://www.amcheck.com/employee-benefits/health-care-compliance
AmCheck Corporation is a leading provider of payroll, human resource, and benefits outsourcing solutions for employers of all sizes. The company offers wide-ranging payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, and check signing. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through AmCheck either directly or through broker partnerships in certain U.S. markets. AmCheck was founded in 1996. With headquarters in Phoenix, Arizona, the company has 10 processing centers in the US, serving thousands of employers. For more information about AmCheck and our products, visit www.amcheck.com.
Stay Connected with AmCheck
SOURCE AmCheck Corporation
Corporate Market Director
Comments:comments powered by Disqus
- Expansions & Growth
- Financial & Earnings Claims
- Mergers & Acquisitions
- Personnel Changes
- General Announcements
- Conferences & Events
- Product Announcements
- Media Coverage
- Strategic Alliances
- Business Services
- Cleaning and Maintenance
- Financial Services
- Franchise Consultants
- Health and Wellness
- Home Services
- Senior Care
- Service Brands
- Small Business