Every business has their own unique variety of compliances to adhere to, but there are also overarching government compliances that all businesses must ensure they’re in line with. The Affordable Care Act is one of those that affect all businesses. Though the recent presidential changes could change these at some point in the future, businesses need to still take these into account with a business as usual approach until something changes by law.
In terms of ACA Compliance, an automated timekeeping system is a great way to reduce manual tracking and allow software to do the dirty work of pulling together reports and proving some of the compliance components. Here are a few ways to utilize an automated timekeeping system for ACA compliance.
Identify and Track Employee Hours
One important ACA component for employers is what bucket your employees fall into. There are full-time, part-time, variable and seasonal types and the employer’s responsibilities change depending on the group. By leveraging an automated timekeeping system, an employer can easily [and dynamically] understand each employee on an individual level and the hours they work. Since no worker is the same and rarely works a consistent, robotic schedule, an automated system provides clear visibility on a holistic level. Even further proving the need is the inconsistencies employees have on simply filling out their timecard. Whether accidental errors or on purpose, timekeeping software can alert and better manage the end to end process without additional management resources.
The onus of stating compliance is on the business owner and that’s not necessarily as simple as checking a box. An automated timekeeping system, though, gets it about as close to that easy as possible. Employers need to submit reports showing their compliance with details on what they’ve provided to their full-time employees. Not only that, but it needs to show it as granular as on a monthly basis, making an automated timekeeping system invaluable for efficiency-sake.
Besides the presidential changes and what that could mean, the ACA is an ever-evolving body. While part of the responsibility of looking ahead is just understanding what the changes are as they come down the pipe, the other piece is ensuring your system is setup to produce what’s necessary for compliance. As standards change, an automated timekeeping system makes it easy to pull new data, change reports, and continue with the same efficiency to ensure compliance.