CINCINNATI, OH — (Marketwired) — 11/12/14 — , helping companies perform better with intuitive, cloud-based onboarding, HR, payroll and timekeeping software, today announced details of its consultative functionality that helps employers contend with the new requirements introduced by the Affordable Care Act (ACA).
The ACA–s employer mandate will go into effect on January 1, 2015 for employers with 100 or more full-time employees, and on January 1, 2016 for those with between 50 and 99 full-time employees. As one of the most complicated pieces of legislation ever enacted, the ACA has placed greater pressure than ever on employers to ensure they accurately track and report the hours their employees work. This may prove to be a challenge for the more than half (54 percent) of small and mid-sized businesses that — if they track them at all.
As such, it is crucial that employers be able to answer three essential questions in order to meet the ACA–s mandate: Is their organization considered a “large employer” according to ACA requirements? Which of their employees are eligible for health care coverage? And, are their health benefit plans affordable for employees?
Paycor addresses these issues directly with the Reporting and Analytics and Time and Attendance modules of its Perform solution. With these modules, employers benefit from an easy, streamlined method for finding out the answers to their crucial ACA questions to ensure they follow the law appropriately.
Other benefits of Paycor–s ACA functionality include:
: With greater insight into the workforce, companies can manage their employees in a way that ensures compliance while maximizing efficiency.
: Whether employee data comes from Paycor–s time and labor system or from pay period reporting, employers get access to historic and point-in-time reporting, as well as forward-looking decision support tools.
: Paycor offers clients access to its , a robust, online resource that contains essential information on health care reform, such as checklists, templates and informative guides. Through the HR On-Demand service, clients can connect with HR experts to answer specific questions about their biggest ACA concerns.
“The ongoing implementation of the Affordable Care Act has created a great deal of confusion for employers, driving the need for intuitive, user-friendly solutions that enable them to overcome these challenges and comply successfully with the pending changes,” said Brad Dewey, director of Product Management at Paycor. “Our functionality demystifies ACA compliance and helps employers understand their responsibilities so they can make strategic decisions about the benefits they provide their employees.”
Additional information about how Paycor can help organizations overcome their greatest ACA challenges can be found at: .
Paycor helps companies perform better with intuitive, cloud-based onboarding, HR, payroll and timekeeping software. We listen to our clients and understand what–s important to their businesses and their employees. More than 25,000 small and mid-sized businesses across America have chosen Paycor for easy-to-use solutions that improve efficiency and enable them to focus on growing their business. Our personalized service and intuitive software have been voted by our clients to receive prestigious Stevie Awards. Paycor services also include tax filing in every jurisdiction in the U.S., online reporting, 401(k) retirement services, workers– compensation, and much more.
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