DirectPath Partners with Sovos Compliance to Offer Comprehensive ACA Reporting Solutions
Expanded offering provides true end-to-end solution for Fortune 1000 companies filing ACA compliance documents with the
The Affordable Care Act mandates that all consumers must report that they are enrolled in a health insurance plan that meets minimum essential coverage standards—or risk paying penalties. Likewise, employers must report that they have made such plans available for employees in order to avoid fines. Creating, distributing and filing all the appropriate forms requires data from multiple sources and cannot be done with the same system that employers use to process W-2 forms. Additionally, forms must be filed under an employer’s federal ID number—and many large employers have multiple. The process of filing these forms can be a major resource drain even for the most organized employers, and it must be completed between December, when all of the information for the year becomes available, and
“Tax reporting under the Affordable Care Act is the largest expansion of tax reporting since the W-2 was introduced in 1978, and it meant a big adjustment for employers and HR departments,” said
This year, DirectPath’s ACA compliance offerings have expanded beyond data collection, testing and form creation to also include:
- print and electronic distribution of forms;
- a call center for employees to use if they have any questions or issues; and
-
IRS filing services through Sovos.
DirectPath is now one of the only companies to offer a comprehensive ACA reporting solution for large, complex employers.
“We considered working with several vendors to create this offering, but
DirectPath and
About DirectPath:
DirectPath is an industry leader in strategic employee engagement and health care compliance for Fortune 1000 employers. Its customers experience significant ROI on their benefits investments through increased employee participation, management of the evolving regulatory environment and reduced cost through efficient benefits plan management technology. DirectPath is headquartered in
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Source: DirectPath
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