Mid-sized businesses face a unique set of challenges when it comes to maintaining ACA compliance. Balancing the complexities of tracking a growing workforce, monitoring eligibility thresholds, and meeting stringent IRS reporting requirements can be overwhelming without the right tools. ACA-Track offers a powerful solution tailored to the needs of mid-sized businesses, streamlining compliance and freeing up valuable resources.

Why ACA Compliance Matters for Mid-Sized Businesses

The ACA requires employers with 50 or more full-time equivalent (FTE) employees to offer affordable health insurance coverage that meets minimum essential coverage (MEC) standards. If a business fails to comply, it may face significant financial penalties, reputational damage, and operational disruptions.

For mid-sized businesses, compliance is not just a legal requirement — it’s a strategic decision. Providing compliant health coverage helps attract and retain talented employees while avoiding penalties from the Internal Revenue Service (IRS). Failure to stay compliant can also trigger audits and increased scrutiny from government agencies, putting the company’s stability at risk.

Key ACA Compliance Challenges for Mid-Sized Employers

Mid-sized businesses encounter several unique hurdles when managing ACA compliance:

1. Employee Count Fluctuations

Seasonal and part-time workers can quickly push employee counts above the 50 FTE threshold. Monitoring these numbers accurately is crucial to determine the employer’s reporting obligations.

2. Complex Reporting Requirements

ACA compliance involves meticulous tracking of employee hours, benefits eligibility, and health coverage offerings. Reporting must be done through Forms 1094-C and 1095-C, which can become complicated without proper systems in place.

3. Tight Filing Deadlines

The IRS enforces strict deadlines for ACA reporting. Missing these deadlines can result in hefty fines, making it essential for businesses to stay organized and proactive.

4. Keeping Up with Regulation Changes

Healthcare regulations evolve frequently, requiring companies to stay updated on new rules and adjust their compliance processes accordingly.

Challenges Mid-Sized Businesses Face

As mid-sized businesses grow, so does the complexity of ACA compliance. Common challenges include:

• Tracking hours for a mix of full-time, part-time, and variable-hour employees.
• Monitoring eligibility for healthcare coverage across an expanding workforce.
• Ensuring accurate and timely submission of Forms 1094-C and 1095-C to the IRS.

These challenges require a robust system to ensure compliance while managing the demands of growth.

How ACA-Track Supports Mid-Sized Businesses

ACA-Track provides a comprehensive suite of features designed to meet the specific needs of mid-sized businesses:

• Advanced Data Integration: ACA-Track consolidates data from multiple sources, including payroll systems and timekeeping platforms, ensuring accurate tracking of employee hours.
• Proactive Alerts: Real-time notifications keep businesses informed of employee eligibility thresholds, enabling timely action.
• Automated Reporting: The platform generates and electronically files IRS forms, reducing administrative burdens and minimizing errors.
• Error Detection: ACA-Track identifies and resolves data inconsistencies, ensuring compliance accuracy.

Dedicated Support for Growing Businesses

Mid-sized businesses benefit from ACA-Track’s dedicated account managers, who provide expert guidance throughout the compliance process. From handling data uploads to resolving IRS errors, ACA-Track ensures a seamless experience.

Customizable dashboards allow businesses to manage compliance data efficiently, providing real-time insights into workforce eligibility and reporting requirements.

Secure and Scalable for Growing Needs

ACA-Track prioritizes security with encrypted data storage and compliance with SSAE 16 SOC 2 standards. Its scalable features are designed to support mid-sized businesses as they grow, ensuring continued compliance without disruption.