ACA: Preparing for Year End & Updated Timeline
I’m sure you are all saying, “Already?!” Yes, it’s time to start reviewing the ACA Manager in PROWORK.
- Check for missing ACA profiles. Remember, all employees must have an ACA profile. This is configured on the ACA tab in the employee’s profile. You can run a simple employee report to filter the employees who are missing a profile. Make sure that there is a process in place to make sure that this is configured upon hire.
- Ensure Full Time employees are truly listed as FT (“Employee Type” field). If you are not offering coverage to employees following your medical plan’s waiting period, then they should not be listed as FT in PROWORK If employees are listed incorrectly, the wrong codes will be populated on the 1095-C.
- Verify Benefit Profile dating has been correctly applied. When benefit profiles are assigned, they tell the system if and when coverage has been offered. This field is on the main tab in the employees’ profiles. The dates associated with the profiles applied need to match the coverage (or non-coverage) effective dates.
- Terminated Benefit Coverage Dates
Keep in mind, these are just a few of the items to check for in your ACA Manager. Ensuring processes are in line as employees are eligible or ineligible for benefits is highly important and can save you a headache come year end.
For 2016, the Form 1094-C and 1095-C must be furnished to employee no later than January 31st 2017. With this in mind, Profit Builders will be utilizing the following timeline for Year End Processing:
- December 31st: Clients to ensure all employee ACA timelines are ready for processing. No more changes to 2016 timelines beyond this date, unless requested through your Payroll Specialist.
- January 3rd – January 9th: Profit Builders will be populating the Form 1094-C and Forms 1095-C. Clients will be notified when their company’s forms have been populated. If changes need to be made to the forms, requests will need to be sent through your Payroll Specialist.
- January 16th: Profit Builders, Inc. will begin processing forms and reporting. We will be starting early to provide ample time for delivery.
Upcoming: Training Video
Profit Builders, Inc. is currently working on a training video strictly for the ACA Manager. Stay tuned for an announcement on it’s completion.