Accounting
CBIZ Offers New Affordable Care Act Compliance System
The employee benefits provider and insurance advisory consultancy CBIZ has released CBIZ ACA CheckPoint, a platform offering the advanced availability of ACA reporting and compliance tools and expertise. The system was developed in conjunction with SyncSt
Dec. 22, 2014
The employee benefits provider and insurance advisory consultancy CBIZ has released CBIZ ACA CheckPoint, a platform offering the advanced availability of ACA reporting and compliance tools and expertise. The system was developed in conjunction with SyncStream Solutions, LLC.
The partnership with SyncStream Solutions will provide CBIZ clients with access to ACA reporting and compliance knowledge, ACA collateral and education materials and the new CBIZ-branded web-based technology tool, CBIZ ACA CheckPoint, an integrated management tool designed to provide continually updated ACA monitoring, reporting and documentation.
Intended to minimize companies’ compliance risk, CBIZ ACA CheckPoint allows CBIZ clients to analyze, manage, track and report employee data in accordance with the Affordable Care Act’s (ACA) Employer Shared Responsibility Requirements. The tool allows CBIZ Employee Benefits and CBIZ Payroll clients to count full-time and full-time equivalent (FTE) employees to determine Applicable Large Employer (ALE) status, while managing and tracking measurement periods at multiple levels, employee status and offers of coverage.
Employers can track employee hours to aid in complying with reporting requirements and determine if their health care plan is affordable, as defined by the ACA. With new regulations coming into effect in 2015, such as Employer Shared Responsibility, employers will be faced with several reporting and compliance issues that CBIZ ACA CheckPoint can help alleviate.
“To avoid tax liabilities, penalties or other compliance-related distress, employers need to be attentive to the ACA reporting requirements in 2015 and beyond,” says Jim King, Vice President and COO of CBIZ Employee Benefits. “The partnership with SyncStream will provide CBIZ clients increased depth in both ACA knowledge and technology tools to help them address concerns and challenges related to ACA compliance and reporting while providing the ability to access, monitor and manage their workforce data in real time.”