Surely, there is no end to what all humans can do, and yet there is little we do better than growing on a consistent basis. This progressive tendency of ours has already got us to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why we hold technology in such a high regard is, by and large, based on its skill-set, which ushered us towards a reality that we couldn’t have imagined otherwise. Nevertheless, if we take up a closer look, it should become clear how the whole runner was also very much inspired by the way we applied those skills across a real-world environment. The latter component, in fact, did a lot to give the creation a spectrum-wide presence, and consequentially, kickstart a tech revolution. This revolution, as we discovered, will go on to scale up the human experience from all conceivable directions, but even after achieving such a monumental feat, technology will somehow continue to bring all the right goods to the table. The same has only turned more and more evident in recent times, and truth be told, a newly-launched solution should make that trend bigger and better moving forward.
Benefitfocus Inc, a cloud-based benefits administration technology company committed to helping organizations and the people they serve get the most out of their health care and benefit programs, has officially made its ACA compliance solution available as SAP Solution Extension. Now called SAP U.S. Benefits Administration by Benefitfocus, this ACA solution excels in combining technology with seasoned data engineering so to aggregate data from different sources, file systems, and formats such as payroll, demographic, COBRA and leave of absence information. It also boasts the tools to check if the data is complete and accurate before being reported to the IRS. Moving on, the solution gives you access to a dedicated a client service manager, who specializes in all areas related to the ACA, and therefore, effectively manages the entire business of ACA compliance and reporting on your behalf.
Hold on, there are still some bits left to unpack, as for the purpose of making the employer’s life easier, Benefitfocus’ brainchild even prepares, prints, and mails all employee forms, which employees can access via a centralized portal. Notably, the solution has successfully filed on time for 100% of its customers since employers were required to file in 2015.
Make no mistake, though, the service is not there with you just till the IRS filling. Instead, your client service manager will, by all means, help you in issuing a response to any post-submission rejections or errors from the IRS. Furthermore, they will also expedite your stance on any subsidy appeals or penalty notices without making you bear an additional cost. To contextualize the company’s impact in this area through numbers, Benefitfocus claims its ACA compliance solution has helped customers reduce IRS penalties by 98%.
“It can be challenging for employers to keep up with the evolving changes in ACA regulations and know how to stay compliant with federal and state laws,” said Scott Van Horn, Vice President of Administrative Services at Benefitfocus. “Employers are looking for a trusted partner to help them manage the compliance and reporting process end-to-end. Our solution can not only free up their time to focus on more value-added services, but it can also help reduce the potential risks of incurring hefty penalties from the IRS.”
