In our 2023 survey, 73% of respondents said ACA compliance is burdensome. The burden of ACA compliance shows up quantitatively in the number of hours it takes to comply.
Almost 70% spend more than 80 hours a year on ACA compliance-and it is easy to underestimate the number of hours involved because of the constant checking of data that eats up time all year long.
Our research found that there is no single reason why compliance is burdensome. The problem arises from the many different activities, respondents reported that the main themes were:
- Checking the data
- Software issues
- Ensuring forms are filled correctly
- Ensuring changes are accurately documented
- Managing exceptions
- Understanding the codes
Trusaic’s new ACA Essential® integration with UKG Ready solves these issues. Now embedded into the UKG Ready platform, UKG users can seamlessly automate 1095-C and 1094-C filings directly from the product. This will become available to UKG users in December.
How to Utilize the New UKG Ready Integration
Currently, UKG Ready’s ACA Manager helps you create the 1094-C and 1095-C tax data that must be filed with the IRS and states. However, IRS and state filings are not supported, and users don’t receive insight into IRS penalty risk associated with their 1095-C codes.
Starting December 2024, UKG Ready and Trusaic have partnered to launch a powerful and exciting new integration that enables you to:
- Perform ACA filings in all jurisdictions; and
- Perform IRS penalty risk assessments to proactively find and fix ACA data issues before they turn into IRS penalties.
Other key benefits of this new integration include:
- All ACA jurisdictions supported: IRS filings and state filings, which include California, Rhode Island, New Jersey, and Washington D.C., as well as any future jurisdictional requirements.
- Perform ACA filings without leaving the UKG platform: This is for UKG Ready customers with the ACA Manager enabled.
- ACA penalty risk assessment: Understand your ACA penalty risk before filing. Our research indicates 1 in 4 organizations will eventually receive an IRS ACA penalty assessment. Most of the time, those issues could have been prevented with penalty risk visibility analytics. (This feature is expected to be available by March 2025.)
- Find and fix inaccurate code combinations to prevent IRS 6721/6722 penalties.
- Find and fix non-compliant code combinations to prevent IRS 4980H(a)&(b) penalties.
- Service support: Helpful ACA experts available to answer any questions.
- Pricing: The ACA Filings service is available at an additional cost.
For simplicity sake, we’ve created a visual for what this compliance process will look like:
Access our on-demand webinar and visit the ACA Essential product page for additional insights.
The Trusaic Difference
The IRS is becoming increasingly more aggressive in its Affordable Care Act enforcement efforts. There are a myriad of penalties employers can be assessed for non-compliance.
Receiving one of these letters can feel overwhelming, and stalled action is an incredible risk that can result in significant penalties. Timing is of the essence when you receive an IRS penalty letter.
Since employers were first required to comply with the ACA’s Employer Mandate in 2015, we’ve prevented over $1 billion in ACA penalty assessments for our clients.
In the end, it’s about more than just avoiding penalties. It’s about fostering a culture of compliance, where best practices are ingrained in the very fabric of the organization. By staying ahead of potential risks and embracing the power of visibility, organizations can not only safeguard themselves against penalties but also thrive in their compliance endeavors.
UKG Ready users with ACA Manager will gain streamlined access to our ACA Essential services. However, all users can experience unmatched ACA compliance service and support with our ACA Complete® solution. We deliver everything you need to track, prepare, furnish, file, and defend your ACA compliance. Our market-leading, comprehensive solution includes:
- Timely filings
- Confident compliance
- Penalty prevention
- Reduced burden
- Seamless integration
- Expert support
Contact us or schedule a demo to learn more about our elevated ACA compliance solutions.
