Managing ACA Compliance with stratustime
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Managing ACA Compliance with stratustime
- 3. • Introduction • Understanding the ACA for Business • Automated Time & Attendance • Tour of stratustime’s ACA Module • Questions
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Notes de l'éditeur
- Thank you for joining us for “Simplify Affordable Care Act Compliance with stratustime.” Attendees are still gathering, so we’ll begin in just a few minutes. Welcome to ““Simplify Affordable Care Act Compliance with stratustime.” This webinar will be recorded and emailed to all registrants, and it will also be available online.
- We’ll begin with a basic introduction of how time and attendance processes are affected by the Affordable Care Act.Next, we’ll dive into what we call “ACA Basics for Business” so you can be informed on the parts of the Act that are most greatly affected when it comes to workforce management.We’llthen take a closer look at how automated time and attendance actually works, which will be especially helpful if you are currently relying on a mix of excel-type spreadsheets and paper timecards.Then, Matt will take you on a tour of stratustime’s ACA module, connecting the Act and the system with functionality that will help you manage your compliance..And finally, we’ll close with a Q&A session, so feel free to add questions to the question field in GoToWebinar as they come up, and we’ll do our best to answer all of your questions at the end.
- If your company has at least 50 full time employees, then you’re already preparing to provide healthcare coverage to those employees who are working 30 or more hours per week, as per the Affordable Care Act, otherwise known as the ACA. But when it comes to actually administering the benefits associated with the ACA, if your company is still using spreadsheets, Excel-type reports and manual calculations as part of your time and attendance process, then you’ll certainly be faced with highly complicated procedures and, unfortunately, an enormous potential for error. And, those potential errors have financial implications.
- Let’s take a quick poll. Speak to results.
- With the policies and procedures coming out of the ACA, it’s no surprise that many companies are turning to automated time and attendance. They’re doing this to not only ensure their local, state and federal compliance, but also because they are forward-thinking organizations and they want to make better workforce decisions for today and the future.
- Maybe your company has already decided that automated time and attendance is where you want to go, and now you’re faced with making the enormous choice of picking the right time and attendance provider for you. How do you choose the provider that is right for your organization?While many companies certainly can help you navigate your ACA compliance, few actually have the technology in place to truly manage your ACA compliance.
- But before we dive too far into the ACA module available in stratustime, let’s spend some time better understanding the requirements we as business managers and executives face with the ACA.
- Under the ACA, a large business is defined as a business employing 50 or more full-time equivalent employees. CLICK A full-time employee is someone who works, on average, 30 or more hours a week, or at least 130 hours per month. But full-time equivalent is the number of full-time employees PLUS the combined number of hours of part-time employees divided by 30. So while you may not have 50 regular full-time employees, you may still fall under the “large business” umbrella of the ACA.
- The ACA allows for some safe harbors for part-time, seasonal and variable hour employees so you can determine when they need to be treated as full-time employees. These are called the Measurement Period, the Administrative Period and the Stability Period
- CLICK The measurement period is a 3 to 12 month period used to determine which employees are treated as full-time. CLICK The initial measurement period for a new employee should begin on that employee’s start date, or shortly after on the start of the following week, month, or pay period. The goal is to measure the average number of hours worked per month by a variable hour employee – which will help identify which of your variable hour employees have to be treated as full time in regards to the Affordable Care Act.
- In addition, employers are allowed up to CLICK 90 days before the stability period begins to confirm eligibility, and notify and enroll employees. The administrative period is entirely optional. But, if it is used, it must follow these specific parameters.
- If you’ve determined that an employee needs to be treated as a full-time employee, the stability period CLICK is the time during the coverage year that your employee must be guaranteed access to coverage.CLICK The stability period must be at least 6 months but no shorter than the chosen measurement period you used to determine eligibility.So, if you used, say 10 months to measure an employee’s eligibility, then the employee must be guaranteed at least 10 months for his or her stability period.
- What’s great about these safe harbors are that they provide businesses the time necessary to comply with the ACA. Unfortunately, without sophisticated tracking tools, keeping all of these dates for all of your employees can easily become quite cumbersome. CLICK And, employers that do not provide the appropriate coverage to their employees may face penalties of up to $3,000 per employee.
- Now, let’s take a closer look at how automated time and attendance actually works, which will be especially helpful if you are currently relying on a mix of excel-type spreadsheets and paper timecards.
- Time and attendance is not a stand-alone system, and It should work with other applications within your enterprise. The most common setup we see is integration into HR and payroll applications. CLICK Typically employee data is fed from the HR application into. your time and attendance system, such as stratustime This data would include data points like first name, last name, employee number, and so on. In addition, labor level information is transmitted, such as the employee’s department, andjob access information. Finally, we like to get data points such as the employee’s manager, and any other pertinent data that will help automate the system to best serve your organization’s needs.
- As part of the configuration process, we need to assess your rule sets that exist within your organization. These rule sets would include things such as tribal knowledge – any tribal rules you may have --, collective bargaining agreements, union rules and your company’s accrual policies.
- Next, after all of the data is entered into stratustime, the gross hours are transmitted to the payroll application in order to get the employees paid. CLICK This data typically consists of regular time, over time and any other payroll data such as bonuses or tips that have been entered. CLICK Having these types of interfaces is critical because it reduces errors by eliminating the need for double entry. CLICK Also, as you can imagine, it greatly reduces the time to process the payroll.
- Now that you understand some of the basics of automated time and attendance systems, we’d like to take the time to explain why stratustime may be the right solution for your business. Because of our focus on research and development and our ability to quickly and effectively build the software that our clients need to make their business lives easier, stratustime is currently helping thousands of businesses around the country by better understanding their workforce data; effectively scheduling the right employees at the right time; delivering accurate and rapid reports; monitoring employees’ schedules, time records, eligibility and benefits enrollment – complete with real-time alerts for managers; and easily producing comprehensive audits – all with the click of a button.
- Now I’ll pass the reins here over to Matt, who will will take you on a tour of stratustime’s ACA module, connecting the Act and the system with functionality that will help you manage your compliance..
- Thanks Jennifer.As Jennifer shared, I’m the product manager for stratustime, and it’s great to have this opportunity to share our new module with you, as the Affordable Care Act has become such an important part of our business lives. The first thing I want to point out is that the ACA module in stratustime is deeply integrated into the software. Perhaps you’ve demo’d ACA support tools within other time and attendance products. When we were developing our ACA module, we felt that the report approach that many vendors are taking was half-hearted.And that actually inspired us to build a module that was more robust and would really serve our clients. So, we took the rules directly from the legislation, and we built intelligent software with the goal of helping you stay compliant.And we do this by giving the tools you need to monitor and schedule your staff effectively.
- Over the last year, we’ve continued to hear news about changes in the ACA, and honestly, we anticipate change in the law. As you know, the Affordable Care Act has been amended several times, and the IRS interpretation of the law has also been amended from its original version. Instead of seeing this as a limitation, we’ve embraced this aspect, and stratustime’s ACA module was designed to handle any changes gracefully with powerful effective dating.Additionally, multiple classes of employees can be put into separate policies, allowing the system to automatically handle these employees differently while still applying the rules consistently.
- The ACA module was built to understand all aspects of the law as they pertain to time and attendance in order to provide proactive alerts with meaningful information.At the same time, we built the module with flexibility in mind. So, each detail of your company’s policies can be entered into the software to provide accurate calculations based on the policies in force within your organization.
- In tune with the proactive nature ofstratustime, the software will also provide powerful tools for scheduling employees.Let’s say you’ve scheduled your employees, but at a later date you make an adjustment and increase an employee’s hours on a given work day. Our stratustime visual scheduler will show you – during the scheduling operation – if by adjusting an employee’s schedule this will cause that person to pass the 30 hour threshold. We’ve done this with vibrant, visual cues. In the screenshot here you can see Adam Smith’s scheduling block change from green to orange, alerting his manager that he will be over that 30 hour threshold, should this new schedule be set. Ultimately, the goal of our ACA module is to monitor, alert and report for you, so you can focus on the work that matters most in your organization.
- Thanks, Matt. It’s been great to see exactly how the ACA module operates within stratustime.Now let’s open the webinar up to questions from our attendees. If you haven’t already, please enter any questions you’d like to ask directly into the question portal of GoToWebinar ….Is there a way that I – as a manager – can see a quick snapshot of where our company is in regards to the ACA? My company has overlapping shift differentials, and I’ve found that some systems can’t accommodate our setup. Is this something stratustime can handle?
- Thank you for joining nettime solutions for “Simplify Affordable Care Act Compliance with stratustime.” We’ll be emailing all registrants a recording of this webinar, and we’ll also be providing you with a free copy of our e-booklet, “Navigating the Affordable Care Act.”If you’d like to learn more about stratustime and see if it’s the right automated time and attendance system for your organization, you can give us a call at 1-800-561-6366 or visit us online at nettimesolutions.com to request a customized demonstration. Thanks, and have a wonderful rest of your day!