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ACA AUDIT SERVICES

Sample Audit

Easy and fast way to “dip your toe in the ACA compliance water.”  Custom designed to reflect the employee activity of your workforce.  The Audit scope includes:

Benefit:  If our sample audit indicates potential issues, we can dive deeper and perform a 100% data comparison to help minimize avoidable fines and penalties.

100% Data Compare Audit

Achieves the highest level of assurance your forms were issued to all eligible recipients.  Further ensures any issues won't be compounded next year.  Highlights include:

What's also great about this audit is that you'll have a much smoother 2016 effort, too.

 

 

Data Diagnostic Audit

Reviews your 1095 data before your forms are sent to to vendor and especially, recipients.  Custom designed to reflect your business.   Highlights include:

This audit also allows us to pinpoint specific problem areas your initial data indicates.

 

 

 

Risk Analysis Audit

Focuses on employees that either: 1) Did not receive an offer of coverage or, 2) Waived coverage.  It's important to note that this is a potentially high risk area as these employees can ultimately trigger Penalty A.

This analysis/audit enables you to uncover what you don't know about these employees and more importantly, identify and avoid costly fines and penalties!

 

 

Do You Feel Good About Your 1094 and 1095 Submitted Data?

IF UNCERTAIN, LET'S FIND OUT!

(Describe your inquiry in as much detail as possible)

The good news is your 1095s are done, congratulations!  While your 1095s are behind you, every once in a while your mind may meander into an ominous space.  You’re not alone.

Given the ambiguity of the regulations, the high fines and penalties for non-compliance, questionable data completeness and accuracy and new ACA IRS technology, the risk for fines and/or penalties is high.  Along with high penalties and fines also potentially comes another threat – the loss of your job.  In spite of these threats many professionals perceive 2015 as a test year.  In essence, the IRS will look the other way as long as “best efforts” were used.

While some of this is true, employers need to keep in mind the IRS has hired thousands of agents to enforce the ACA.  Employers also need to keep in mind that the Federal government has budgeted billions of dollars in fines and penalties every year for the next 10 years.

In the spirit of Dirty Harry – you may want to ask the following.  “Do you feel lucky – did I shoot only 5 shots or 6, well do ya?”   Even though no one is getting shot here, metaphorically speaking do you really have 100% confidence your 1095s are correct.  Are you prepared up to $250 for each missing or incorrect form?  Only you know the answer.  If you’re conservative and want to mitigate your risks, you may want to strongly consider a 1095 audit.

FAQ

Everything you'd like to know about the benefits of our ACA audit services

It’s really quite simple –

  • The regulations are complicated
  • ACA IRS reporting is new
  • Fines and penalties are very high
  • Vendors haven’t audited their own products
  • There are many moving parts
  • Your job could be at risk

Since your employer/vendor just recently processed these forms the information should be readily available.  If you’re seeking a sample-based audit, our sample audit report can be delivered in less than 4 weeks.  If you’re seeking a 100% data compare audit, than this will likely take more time unless all of the data can be furnished right away.

That all depends upon the comprehensive nature and integrity of your data and well as the importance of quality assurance to your 1095 vendor or software company that is producing your forms.

Given the complexity of ACA IRS reporting you really need a specialist that understands all the nuances of the regulations.

How Does the ACA Audit Work?

STEP 1. PROVIDE CONTENT
  • Employer profile
  • Aggregated ALEs
  • Plan design
  • HR/Benefits data
  • 2015 1095 output
STEP 2. PERFORM AUDIT
  • Scenarios
  • Data load
  • Expected results
  • Actual results
  • Exceptions
  • Avoided fines
STEP 3.IDENTIFY IMPROVEMENTS
  • Aggregated ALEs
  • At-risk employees
  • Offer of coverage
  • Monthly premium
  • Employee status
  • Dependents