who employ over 50
are required to provide
affordable health care
In order to meet these new compliance standards, companies are now required to submit information to the federal government
in a specific format. Companies must be able to accurately report the status of their entire workforce for 2015 and coordinate that information with their audit / accounting firms.
Meeting this compliance challenge has not been a simple task. Most companies are struggling to produce the information required for compliance. That’s where HRdataXchange™ Managed Services steps in. HRdataXchange™ Managed Services is a simple and cost effective way for organizations to manage this complex requirement.
THE PROBLEM | Data Rationalization
The data needed to determine ACA compliance typically resides in disparate systems, both within an organization and with their third party service providers.
"Our vendors will not help with the data transformation..."
In most cases, organizations will initially reach out to one of their service providers, typically payroll or insurance, for assistance in obtaining the information. However, not only do they need to obtain the information, but it also needs to be in a required format to ACA’s specifications.
The vendor response is usually, “that is not something we do.” If they can do the work, it will be custom and very expensive. In addition, any one vendor will most likely not have all the information required to meet the ACA compliance determination. This forces the client to act as a coordinator and collection point for all of the related data.
Data from many different systems and vendors needs to be collected and rationalized so that it can be merged into a single view of the company’s population for a given period of time.
At a minimum, this will typically entail working with insurance, HR and payroll providers. To compound the problem, organizations may have multiple versions of these vendors for different entities within the parent organization.
THE SOLUTION | HRdataXchange
HRdataXchange™, our managed service offering acts as an aggregation point for all of the related ACA compliance information. Utilizing the latest in secure data transmission, we can interact with internal and third party data sources on the customer’s behalf. We aggregate and transform all data sets needed for ACA compliance processing.
After a simple setup process, the automated service runs on a scheduled basis
with all required auditing and reporting baked in.
Our many years in the HR services business has provided our company with a template library of third party integration specifications. We have leveraged that unique intellectual property to allow us to streamline our ability to access and integrate third party information quickly and efficiently.
Using our proprietary data management solution, we are able to collect and integrate data from many varying sources. We then translate it into a coherent and consistent picture of an organization’s employee population for any given period of time. This one comprehensive view is typically unavailable in any other internal or external system.