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Home ACA Compliance Avoid Costly ACA Penalties: Discover the Tool that Ensures Compliance

Avoid Costly ACA Penalties: Discover the Tool that Ensures Compliance

3 minute read
by Maxfield Marquardt
Avoid Costly ACA Penalties: Discover the Tool that Ensures Compliance

In today’s compliance landscape, ACA penalties are more than just a minor setback — they can have a significant financial impact on your organization.

With increased audit scrutiny, continued penalty amount increases, and evolving IRS regulations, employers must do more than simply meet filing deadlines. They need proactive tools that identify potential risks before they escalate into penalties.

That’s where Trusaic’s Penalty Risk Assessment tool comes in, offering real-time insights to prevent costly mistakes and ensure compliance.

The Growing Threat of ACA Penalties

ACA compliance is a complex process that requires meticulous attention to detail. Unfortunately, many organizations rely on basic filing solutions that fail to identify deeper compliance issues. These oversights often result in:

  • Affordability errors: Incorrect affordability calculations can lead to substantial penalties under the Employer Shared Responsibility Payment (ESRP).
  • Missing coverage data: Gaps in reported data can trigger IRS inquiries and penalties.
  • Misclassified employees: Misidentifying full-time employees can result in penalties for failing to offer minimum essential coverage.

A growing threat of ACA Penalties

Recent changes in IRS audit procedures have heightened the need for accuracy, making it essential for employers to adopt proactive compliance measures.

Introducing the Penalty Risk Assessment Tool

Unlike traditional ACA solutions that merely file what is provided, Trusaic’s Penalty Risk Assessment tool takes a comprehensive approach. Here’s how it works:

1. Advanced Data Analytics

Our tool analyzes your payroll and benefits data to identify potential compliance risks. This includes:

  • Detecting affordability issues before they result in penalties.
  • Highlighting missing or incomplete coverage data.
  • Identifying misclassified employees to ensure accurate reporting.

Aadvanced data analytics

2. Seamless Data Integrations

By integrating directly with your payroll, HR, and benefits systems, the Penalty Risk Assessment tool eliminates data silos and ensures accuracy across all touchpoints.

3. Real-Time Error Detection

With real-time insights, employers can address issues immediately, preventing them from escalating into costly penalties.

4. Proactive Reporting

The tool generates detailed reports that highlight risk areas, providing clear guidance on corrective actions to maintain compliance.

Proactive Reporting

Why Proactive Risk Management Matters

Many ACA compliance solutions operate reactively, addressing issues only after penalties are assessed. This approach leaves employers vulnerable to unexpected fines and reputational damage. In contrast, proactive risk management offers several advantages:

  • Cost Savings: Avoid penalties that can amount to hundreds of thousands of dollars.
  • Operational Efficiency: Address issues before they disrupt workflows or trigger audits.
  • Peace of Mind: Know that your compliance processes are audit-proof and aligned with IRS regulations.

The Trusaic Difference

Trusaic’s Penalty Risk Assessment tool stands out for its combination of advanced technology and expert support. Key features include:

  • Comprehensive analytics: Go beyond basic filing to identify and resolve hidden compliance risks.
  • Expert guidance: Our team of ACA specialists provides personalized support to ensure accuracy and compliance.
  • User-friendly interface: Intuitive dashboards and actionable insights make risk management easy.

With over $1 billion in penalties prevented for our clients, Trusaic has a proven track record of delivering results.

See the Solution in Action

ACA compliance doesn’t have to be a reactive, stressful process. By leveraging Trusaic’s Penalty Risk Assessment tool, employers can proactively address risks, ensure compliance, and avoid financial penalties.

Don’t wait until it’s too late — invest in a solution that empowers your organization to stay ahead of the curve. Schedule a demo today to experience the power of our Penalty Risk Assessment.

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