CIC Plus to Manage Affordable Care Act Reporting for more than 500 Companies, 12 Million Employees
Skokie, Ill. – September 9, 2015 – The Affordable Care Act (ACA) ushers in a new era of health care—and with the first reporting period quickly approaching, additional administrative and compliance requirements for employers. CIC Plus, an industry leader in employee information management, will manage the ACA reporting and compliance requirements for more than 500 companies and projects to manage the delivery of ACA statements for more than 12 million employees.
Under the ACA, any organization with more than 50 full-time equivalent employees that provides minimum essential health care coverage to individuals must report to the IRS and provide covered individuals with information specific to their coverage each year for their federal tax return filings. With the first reporting period quickly approaching in early 2016, companies are moving quickly to ensure they are prepared to deliver the necessary health care coverage information to employees and the IRS.
“When you consider the additional reporting elements—which requires collecting information from multiple HR systems to producing the ACA employee statements employers need to deliver with their W-2s each year—managing the administrative requirements of the Affordable Care Act can be a significant burden,” said Jeff Cohen, president of CIC Plus. “Many companies are trying to understand how they will meet these complicated requirements while balancing limited resources, time and expertise. Clients have relied on CIC Plus to deliver year-end tax statements for nearly two decades, so it’s only natural we support their ACA reporting needs too.”
A pioneer in online W-2 statements, CIC Plus offers employers the flexibility of providing employees with electronic or printed ACA statements. Electronic ACA statements will be delivered from CIC Plus’ online portal, which integrates W-4 and W-2 statements with the new ACA forms, giving employees one source for their tax information.
“ACA compliance is important for our organization, so we need to meet the required deadlines, and we need to do it right,” said Suzan Gibson, Director-HR Payroll Services, Shaw Industries Group, a subsidiary of Berkshire Hathaway. “For several years, we’ve partnered with CIC Plus for W-2 processing and have been very pleased. As a result, we know they have the experience, the innovative technology and the dedicated customer service to meet our ACA reporting requirements for our employees and our organization, allowing us to focus on our core business.”
Date: Wed, 09/09/2015