ABILA HELPS NONPROFITS TURN ACA COMPLEXITIES INTO ACA COMPLIANCE
The Patient Protection and Affordable Care Act (PPACA), more commonly called the Affordable Care Act (ACA), is one of the most significant regulatory overhauls of the U.S. healthcare system in decades.
Under the ACA’s Employer Mandate, applicable large employers (ALEs) – broadly defined as those employing an average of at least 50 full-time workers – must offer their full-time employees (and their dependents) the opportunity to enroll in “affordable” coverage.
Employers that offer their employees the opportunity to enroll in coverage will be penalized if the coverage is “unaffordable” or does not provide “minimum value.”
Addressing these mandates can be time consuming and error prone without the proper true fund accounting™ solution.
BE PREPARED NOW AND IN THE FUTURE
To comply and avoid penalties, your organization may need to provide a series of reports/returns starting in January and extending to March.
Determining whether your organization is classified as an ALE for the preceding year, calculating coverage values, and furnishing relevant reports (for example, Form 1094-Cs and 1095-Cs) both to employees and the IRS are among the key new ACA requirements. Nonprofits, as well as federal, state, and local government entities are not exempt from these requirements.
WE HAVE YOU COVERED
Complying with these complicated requirements is much easier with true fund accounting™ software that fully integrates payroll and HR functionality.
Abila MIP Fund Accounting™ is primed to get you through the complex reporting and compliance requirements you now face. MIP’s combined Payroll, HR Management, and Employee Web Services modules capture important details on employees and their dependents that assist with ACA reporting needs.
Finally, providing your employees and the IRS with these required reports/returns for each deadline between January and March is seamless and easy when you combine Abila MIP Fund Accounting™ with Tax Forms and eFiling by Aatrix®.
See how MIP Fund Accounting™ can help you achieve your goals.
Want to know more about ACA? Check out our Nonprofit Accountant’s Survival Guide for more insight.
SEE IT IN ACTION
Join us for a live product tour of MIP Fund Accounting™ and MIP Advance™.
ALREADY AN MIP CUSTOMER?
Learn more about how our Payroll, HR, and EWS modules can help you easily comply with ACA.