Aflac Helps Businesses Comply With Affordable Care Act Reporting Requirements
Tuesday, July 5th, 2016
Aflac, the leading provider of voluntary insurance at the worksite in the United States, today announced a service to help employers meet ongoing Affordable Care Act compliance requirements. As part of Aflac Business Solutions, a suite of value-added services that addresses the evolving and emerging needs of business owners and their employees, Aflac has partnered with Accord, NavigateHCR and Worxtime to provide much-needed support.
"Many business owners are experiencing increased responsibility to remain compliant with ongoing ACA reporting requirements," said Keith Pellerin, vice president of Product Management and Innovation at Aflac. "To help employers navigate through this complex benefits and health insurance landscape, Aflac has partnered with three top reporting companies to make it both simple and cost-effective for employers to get the compliance services they need, when they need them."
According to a recent survey conducted by Aflac, with most of the significant reporting requirements taking hold this year, nearly half of employers with 50 or more workers reported that they are only somewhat prepared to comply with IRS reporting rules in 2016.
Aflac's ACA reporting partnerships help business owners reduce the administrative tasks related to employee health care and enable them to take advantage of services at Aflac-preferred rates. Aflac employer clients will have access to ACA compliance solutions, including:
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ACA phone and email hotlines to provide responses to ACA-related questions.
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Communication support, including 1095 communications aimed at employees so they stay informed of any ACA-related notifications or changes to their coverage.
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Electronic IRS filing services of 1094 and 1095 forms.
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Standard and customized reports, analytics and testing to reduce risk of fines and fees.
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Tracking and monitoring employee eligibility, including leave of absences as well as seasonal or union employees.
"We understand that our clients, policyholders and broker partners need more from their benefits provider. With this value added service, Aflac helps employers meet their needs with not just our insurance policies but also by providing them support to understand—and more importantly comply—with evolving health care regulations. Along with our nationwide network of agents, we will continue to provide employers with new tools and resources to help them satisfy ACA requirements and make smart benefits choices for their organization and employees," added Pellerin.