Why employers should consider ACA reporting solutions

When signed into law in 2010, the Affordable Care Act (ACA) forever changed the landscape of employee benefits administration. With the introduction of the ACA came reporting requirements. If an organization was deemed an Applicable Large Employer (ALE) or offered self-funded health plans, they now had to not only offer affordable health care but meet the reporting requirements that come with compliance. This is yet another headache for already overworked HR teams.

Ask HR professionals about ACA reporting — many will tell you it’s a daunting task. That’s because reporting requirements leave no room for error. Even just one small error, if not corrected, can quickly add up to substantial costs. On top of that, ACA reporting is very time-consuming, which weighs heavily on HR teams, especially during busy Open Enrollment (OE) seasons.