ACA Compliance Best Practices

What Is At Stake?


Like many other governmental regulations, one small misstep implementing ACA compliance and reporting can put your company at risk of thousands to millions of dollars – not just in non-tax deductible penalties – but also from losses in operational resources and time.

Compliance Requires a Complex Holistic Solution.


In-depth knowledge of ACA regulations, sound internal control procedures, and coordination among the company’s finance, tax, human resources, and payroll departments are essential to successfully navigate the complexities of ACA compliance and reporting.

Consider the Following in Order to OutThink Risk:


  • Select and implement optimal healthcare coverage plans in compliance with the ACA
    • Understand the impact of these plans on your company’s ACA requirements for your employees
  • Account for non-employee reporting needs such as retirees and those on COBRA
  • Continuously stay abreast of the ever-changing landscape of the ACA regulatory framework
  • Maintain records in conformity with IRC Sections 6055 and 6056
    • Reporting requires the migration of four autonomous data sources: Human Resources, Time and Attendance, Payroll, and Benefits
    • Data sources should be regularly monitored for clerical and system errors
    • Complete documentation must be generated and maintained for all activities related to eligibility determination, offers of covereage, enrollment, declinations, etc.
      • Critical for successful appeal of penalty notices from exchanges and handling of IRS audits
    • Implement a succession plan: turnover of person-in-charge of ACA compliance compels efficient and seamless transition of ACA, internal controls, and data source responsibilities
  • Ensure prepared and effective representation in the event of an IRS audit

Are You Ready to OutThink Risk?