Affordable Care Act Reporting Solutions

GTM understands the complexity behind this health care legislation, and through our payroll software, our Affordable Care Act (ACA) reporting solutions include new reports and tools to ensure our clients’ compliance with the ACA requirements.

GTM’s ACA Reporting Package makes it easy to determine the impact the ACA will have on your business with these three main features:

1.  Determining whether your company is an ALE (Applicable Large Employer)
This is made easy with single and multi-client reports that determine whether your company is an ALE based on your full time and full time equivalent (FTE) employees.

2.  Healthcare Eligibility for your employees

• The ACA Eligibility Analysis Report makes it simple to determine which employees are eligible for healthcare.
• Inactive Employee Report shows employees that have been inactive for a period of time, including suspended employees, those on leaves of absence, and those serving in the military.
• The ACA Rule of Parity Report determines which employees can be treated as new hires or must keep their current healthcare plans when rehired.

3.  Compliance Reporting

• The 1095 ACA Preview Report ensures your records are accurate by allowing you to review the necessary 1095 form information before processing.
• Annual report information on IRS forms 1095 and 1094 (B or C) streamlines managing dependent information with our payroll software enrollment process.

Pricing
GTM’s ACA Reporting Package includes both a monthly monitoring program and the annual 1095/1094 IRS forms using the reports listed above.

Cost: Competitive pricing, contact us for more information.

Penalties
If your business is an ALE, failure to comply with the ACA reporting requirements could result in financial penalties, including:

• $100 per return for failure to file information returns, with a yearly maximum penalty of $1,500,000 for 2015.
• $250 for each failure to provide returns required to be filed after December 31, 2015, with a yearly maximum of $3,000,000.
• $100 for each failure to provide a correct payee statement, with a yearly maximum of $1,500,000 for 2015.
• $250 for each failure to provide a correct payee statement required to be provided after December 31, 2015, with a yearly maximum of $3,000,000.

For more information or to sign up for this service, please contact your GTM Account Manager or Sales Representative, or call (518) 373-4111.