ACA solution is specific to each employer due to numerous factors that affect the total work required to be within compliance and to properly complete the reporting process. We strive to design the simplest and lowest cost solution for employers that keep them in compliance, meet their reporting requirements and minimize their day to day administrative burden. Summit is able to design simple low cost solutions that meet the needs of your organization.
We often find that companies who seek our assistance with their ACA compliance are not completely sure what they need. They tend to just ask for help “with the forms” (i.e. the 1095-Cs). Some client situations are very straightforward and there is little need for expertise with the regulations in order to be compliant. Other client situations are more complex and do require more expertise and data validation. We want to provide a great value and positive experience to all of our clients, regardless of where they are on the spectrum of need. We understand that as the needs of organizations change, the level of ACA services required to meet compliance goals may also change. As such, we are happy to accommodate service level adjustments on a reporting year basis. Listed below are the three levels of service available for you to choose from.
1. Form Fulfillment -
Summit provides the forms and completes the transmission to the IRS. This level requires you to know and provide the information that belongs on the forms.
2. Form Fulfillment Plus Expertise -
For this level of service, the client does not need to know anything about the rules or the forms. Summit takes employee hours of service and coverage offer / acceptance information and applies the IRC 4980H, 6056 and 6055 regulations. We determine the appropriate codes for the IRS Forms, produce the forms and handle the transmission to the IRS. Because this service requires us to analyze all of your employees to determine who should receive a 1095-C and how to complete that form properly, our fees for this service are per employee record per year.
3. Full Service -
This is the highest level of service obtainable. Summit receives information from the client on a monthly basis and forecasts benefit eligibility, penalty exposure, and other ACA compliance issues months in advance. Summit essentially tells the client what to do, when to do it and how long to do it – and follows up on any instructions that have not been completed. This includes whom to offer coverage and whom to drop from coverage on a monthly basis. With this level of service, Summit communicates relevant information to each member of the management team. Clients that use this level of service appreciate the value of not needing to know the regulations or build the tracking mechanisms.
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 through ACAPro@SummitBenefit.com for more information.