Affordable Care Act (ACA) Services
Affordable Care Act (ACA) solution doesn’t require you to know the complex rules of the 6055 & 6056 IRS Regulations, just give us the data and we’ll take it from there. We’re not offering tools or kits for employers to do it themselves. We’ll design the ‘compliance plan’ and back test it to ensure that it minimizes penalty exposure. Summit will inform who to cover, when to cover, and complete reporting at the end of the year.
We are simply experts in the Affordable Care Act regulations and strongly believe that the level of service and expertise that we provide cannot be matched. Our fixed fee approach to customer service means that our clients are not charged for periodic phone calls during the year. As a CEFEX certified firm, our clients are assured that Summit meets our Industry’s Best Practices as defined by the American Society of Pension Professionals and Actuaries.
We have been monitoring the complex (and changing) ACA regulations, and have a firm understanding of what is needed in order for Applicable Large Employers to comply with the Affordable Care Act.
Our ACA administration, compliance and IRS reporting services:
- Require no internal employer expertise
- Significantly reduce investment of time and resources
- Reduce exposure to the financial consequences of mistakes
Our services include (but are not limited to):
- ACA Plan Design
- Data validation and processing
- Determining Applicable Large Employer Status
- Complete all calculations and determinations
- Provide monthly employer reports
- Identifying full-time, new and ongoing employees
- Tracking employees measurement, administrative, eligible, and ineligible stability periods
- Determining which employees are entitled to a benefit offer
- Forecasting potential penalty exposure
- Generate 1095-C reports and distribute to employer or employees
- Generate 1094-C/1095-C’s for IRS annual reporting
- Submit electronically to the IRS
- Generate and issue 1094-B and 1095-B forms for providers of minimum essential coverage
- Continually monitoring changes in ACA regulations
- Readily available access to ACA Compliance Experts
Summit is prepared to assist employers and advisors in any questions they may have, and help navigate their legal compliance with the Affordable Care Act.
Contact us at ACAPro@SummitBenefit.com with any questions.
Summit's ACA Service Detail: Tailored ACA Services
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