The Ripple Effect of Affordable Care Act Compliance
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Transcript of The Ripple Effect of Affordable Care Act Compliance
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TheRipple Effect
of Affordable Care Act Compliance
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What are the Top Issues facing payroll and HR professionals?
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Good question!Ceridian partnered with The Hackett Group to find the answer.
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The Hackett Group conducted a survey to investigate...
top trendspractices challenges in today’s
payroll and tax environment.
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Let’s look at who was surveyed…
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We received input from organizations of various sizes...
< $5 billion $5 — $50
billion > $50 billion
44% 37% 19%
Respondents’ annual revenue:
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And from multiple industries…
Manufacturing
Retail
Health Care PublicAdministration
ProfessionalServices
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Now let’s look at the results!
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68% of respondents indicated
The Affordable Care Act
is the most challenging compliance issue facing senior payroll
professionals.
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When it comes to compliance with the ACA, HR & payroll professionals worry about
Affordability
Eligibility Reporting
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It’s clear that the ACA has made
Compliance a top issue for payroll as well as HR.
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But…
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70% of respondents indicated their payroll leaders have limited involvement or are not involved at all in the ACA compliance decision making process!
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Unfortunately, many payroll systems are not equipped
to handle this challenge.
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Only 2 out of 5 respondents reported their time and attendance technology is integrated with payroll. This is worrisome since this functionality is crucial for ACA compliance.
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But wait,there’s more…
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69% responded that their current system could not send immediate and electronic notifications to accommodate part-time employees who work more than 30 hours a week.
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To reduce the risk of ACA noncompliance, scheduling systems will need to integrate with the time reporting system.
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However, survey participants indicated that the scheduling & timekeeping systems are integrated only
62%of the time.
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ACA compliance is dependent on the
Joint Efforts of payroll, benefits and HR.
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Let’s look at some best practices.
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Best practice #1:Be sTRATeGIC about your ACA compliance efforts and include payroll and HR in compliance preparation.
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Best practice #2:sTANdARdIze processes and procedures to eliminate complexity.
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Best practice #3:LeveRAGe TeCHNOLOGy to automate and streamline processes.
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HR, payroll and tax regulations are here to stay.
And ACA compliance will only grow in complexity.
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Thankfully, Ceridian is here to help.
Visit the Ceridian Compliance Center at www.ceridian.com/ComplianceCenter for ACA compliance tools and resources.