Trusaic Enhances ACA Complete Software to Address Rising Compliance Challenges

Trusaic has announced significant enhancements to its ACA Complete software, positioning it as the only Affordable Care Act (ACA) compliance solution providing full visibility into organizational penalty risks. This development comes at a critical time, as recent research indicates that one in four organizations face annual audits for ACA non-compliance.

The refined platform addresses the complex challenges human resources professionals encounter when managing ACA compliance. These challenges include data inaccuracies, incorrect measurement methodologies, and the substantial time investment required for IRS reporting. ACA Complete aims to alleviate these pain points by offering monthly monitoring and annual reporting capabilities, allowing users to track compliance metrics and coverage offer statuses in real-time.

One of the key features of the enhanced software is its ability to provide a monthly accounting of potential penalty exposures. This proactive approach enables organizations to identify and address compliance issues before they escalate into costly penalties. Given that employers failing to comply with ACA's Employer Mandate can face annual penalties up to $275,000 for every 100 employees after the first 30, the financial implications of non-compliance are significant.

The software's upgrades are particularly timely, considering the research showing that nearly 70% of employers spend more than 80 hours annually on ACA compliance activities. ACA Complete aims to reduce this administrative burden while improving accuracy and reducing risk. The platform offers enhanced efficiency in compliance tasks, a tailored approach for diverse workforces, and proactive compliance through real-time visibility into 4980H compliance issues.

For organizations in jurisdictions with state-mandated ACA reporting, such as California, Massachusetts, New Jersey, Rhode Island, and Washington D.C., ACA Complete also provides state filing services to ensure compliance with specific state requirements. This comprehensive approach addresses the growing complexity of ACA compliance across different regulatory landscapes.

The software's audit defense capabilities are another crucial feature, offering retroactive audits to correct previous issues and personalized consulting services in the event of an IRS audit. This level of support is invaluable given the frequency of audits and the potential for significant penalties.

Trusaic has also introduced the ACA Vitals tool, allowing organizations to assess their compliance risk by analyzing their unique workforce composition. This tool provides an additional layer of insight for HR professionals and business leaders to understand and mitigate their ACA compliance risks.

The enhancements to ACA Complete reflect the evolving needs of HR professionals and organizations in managing ACA compliance. By offering comprehensive visibility, streamlined processes, and proactive risk management, Trusaic aims to address the complexities and challenges associated with ACA compliance in today's regulatory environment.

For HR professionals and business leaders, these developments in ACA compliance software represent a significant opportunity to improve efficiency, reduce risk, and ensure accurate reporting. As the regulatory landscape continues to evolve, tools like ACA Complete may become increasingly essential for organizations seeking to navigate the complexities of healthcare compliance while minimizing their exposure to potential penalties.