Use the above navigation buttons to filter Si's Library by category.
Word has it that some payroll vendors (among others) are now struggling to complete the Affordable Care Act (ACA) IRS forms for their clients. We’ve heard about some vendors informing clients that they won’t be able to do all the forms (specifically for retirees or COBRA enrollees). Other payroll vendors are implementing additional software or web portals for their clients to use to complete the forms themselves.
As you're probably aware, employers with 50 or more employees and smaller employers with self-funded health plans are required to report health coverage and offer of coverage information to individuals and the IRS in early 2016. While some employers are committed to completing those 1094 and 1095 forms internally, many groups are outsourcing the task. Of those outside firms, some are new vendors set up for this specific work; others are data management firms who already specialize in healthcare data (Health Decisions fits this category). Still others are payroll vendors who have recently added ACA Compliance to their menu of services.
However, we’re now hearing that, as predicted, the payroll vendors are unable to successfully complete the forms because they don’t have access to -- or don’t have the skills to process -- enrollment data.
How is it going for you? Please share your experience to date. We’ll compile your answers and share the results (not naming names, of course) in an upcoming webinar.