ACA Administrative and Financial Consultation Services
Confused about the Affordable Care Act (ACA)? With potential repeals, changes and constant debates it is a challenge for employers to keep compliant. ACA is the law and the IRS will continue to enforce with audits and penalties. Non-compliance per employee, per day penalty, is $260. This is for each required form 1095 & 1094. The annual maximum penalty is $3,000,000. CPI-HR provides a comprehensive ACA strategic plan, which complies with the law and matches the employer’s needs. Our integrated technology uses data from payroll & benefits carriers to track employee hours and produce IRS required forms 1095 & 1094. CPI-HR will take the guesswork out of ACA compliance. We keep our clients up to date on the latest regulations and complaint as the requirements evolve.
We offer hands-on full ACA administrative and financial consultation services, using a web-based ACA solution, which includes:
- Implement plan compliance & policies
- Monitor ongoing salary, ongoing hourly, and all variable hour activity
- Track with monthly reports to prepare for Annual IRS reporting and audits
- Compile information for IRS reporting
- Produce IRS form 1095s for applicable employees
- Electronically file IRS form 1094
Compliance Review
- Review current plans for administrative compliance
- Analysis of current plans and employee offerings
- Conduct staff training and ACA education, as needed
- Provide you a report on responsibility and requirements
- Conduct analysis of potential penalties for noncompliance and cost associated with the penalties
- Complete analysis and provide recommendations for measurement periods, administrative and stability periods
- Provide compatible database with your financial system for reporting purposes
- Revise compliance procedures as ACA changes
Education and ACA policies and procedures for policies
- Educate on ACA legislation, requirements and procedures
- Draft ACA required policies
- Update policies as legislation changes
- Create a recommended action plan for ACA policy compliance
- Ongoing support for questions and concerns
Develop ACA Plan & Timeline
- Recommend strategies for addressing eligibility of variable hour employees (e.g. seasonal, per diem, long term substitutes and coaches)
- Prepare policies and procedures, and forms consistent with the requirements of Affordable Care Act
- Determine affordability and minimum value of current health plans
- Model financial exposure associated with non-compliance with any Affordable Care Act requirements.
- Identify potential cost savings associated with offering alternative health insurance plans
- Provide support and training for implementation and administration
- Provide employer mandated notices and action plans for delivery
- Provide ACA updates and conduct education meetings as needed
- Work with you to assign hours to all stipend employees
- Identify employees ACA status category
- Review and assign IRS appropriate safe harbor for District employees
Tracking & Reporting
- Using electronic, web-based ACA software platform designed to comply with federal mandates.
- Advise employers concerning policy on standard measurement, administration and stability periods
- Consult concerning regulatory tracking and filing requirements for ACA
- Track variable employee benefits eligibility using tracking system and payroll information provided by employer
- Software can easily access historical data and generate reports to meet external audit requirements
- Ensure continuous compliance as federal changes are introduced
- Track eligibility and affordability issues associated with multiple measurement, stability, and administrative periods across complex employee demographics
- Track employee health waivers
- This software will produce timely and accurate forms for IRS 1095s and electronic filing of 1094
Estimate Cadillac excise tax
- Forecast employers’ liability based on current plans, enrollment and past plan performance
- Using Cadillac Tax Calculator, we will provide a cost analysis with financial impact projections