Keeping up with the Affordable Care Act (ACA) in terms of health plan tax reporting and filing can be quite a challenge for employers. But never fear; EBSO offers a Compliance Management Solution to help guide companies through the rapidly changing requirements and avoid costly penalties.
EBSO’s new compliance management solution, the “EBSOlution,” is divided into three structured components: Standard Compliance Services, ACAManager Services and Legal Guidance and Support.
Standard Compliance Services are available for EBSO self-insured medical administration clients only and include everything from General Notice Requirements to ACA mandated reporting techniques and fees. From the Women’s Health and Cancer Act Rights Act (WHCRA) to the Children’s Health Insurance Program (CHIP) Reauthorization Act of 2009, these services help ensure that self-funded employer groups never fail to report required information.
ACAManager Services are available to any employer in the United States. These services combine benefits administration technology with the EBSOlution to minimize the employer’s risk. Services include…
- The ACAManager “Pay or Play” Strategy, which sets up company assessments and determines penalties;
- ACAManager Measurement Periods to track and divide initial and standard measurements through multiple employees;
- ACAManager Analytics to review ratios and employee statistics;
- ACAManager Notifications to customize email content and track notices; and
- ACAManager Reporting needed to comply with IRS Section 6055 and 6056 requirements for self-insured and fully-insured Applicable Large Employers (ALE).
When it comes to legal and illegal reporting and filing, there are often some “grey areas” and potential penalties hiding in the shadows. The Legal Guidance and Support component addresses employee issues or ACA questions and allows employers to dissect the constant change that exists within the health care reform laws.
Organizations will save time and money through EBSO’s Compliance and Human Resource tool by offering self-funded certification training sessions, building state-specific employee handbooks with up-to-date policies and reducing the risks of employee harassment and discrimination lawsuits.
In addition to these three critical components, EBSO compliance specialists are available to answer client’s questions as needed. From tracking all required data to filing reports in a timely manner, EBSO offers all the compliance resources employers need in today’s highly complex and fluid regulatory environment.