The Affordable Care Act introduced several critical reporting obligations for employers, insurers, and health plans, particularly the Employer Shared Responsibility Mandate (Employer Mandate). This mandate requires Applicable Large Employers (ALEs) to offer at least 95% of their full-time employees affordable minimum essential health insurance or face substantial penalties.
To ensure compliance, organizations must implement robust methods for determining employees’ full-time or part-time status. Quantas Advisors offers comprehensive solutions, including:
Reporting for self-funded employer-sponsored health plans, documenting individuals enrolled in minimum essential coverage, including employees, retirees, COBRA participants, and their dependents.
Reporting whether full-time employees and their dependents were offered the opportunity to enroll in minimum essential coverage under an eligible employer-sponsored plan.
Quantas Advisors delivers a comprehensive Search & Rescue process to uncover and recover healthcare claims errors. Our experts leverage in-depth industry knowledge and advanced data analysis to identify overpayments, resolve inaccuracies, and return real savings to your organization. By balancing flexibility with advocacy, we help you achieve financial clarity while maintaining strong payer relationships.
Quantas Advisors specializes in reporting for self-funded employer-sponsored health plans, ensuring compliance with IRS requirements for minimum essential coverage reporting.
Our customized solutions address all aspects of §6056 compliance: Look Back Measurement Period Method& Monthly Reconciliation Method.
The foundation of compliance begins with analyzing historical payroll data (minimum 12 months) to identify hours of service for each employee. We collaborate with all payroll vendors capable of providing detailed reports in formats like Excel or text files.
Our process includes:
• Utilizing IRS-approved methods: Actual Hours, Days Worked, or Weeks Worked equivalency.
• Cross-referencing this data with employees offered minimum essential coverage to highlight deficiencies.
Our team identifies the optimal measurement, administrative, and stability periods for ongoing, seasonal, and variable-hour employees based on IRS safe harbors. We ensure employees and staff understand the importance of these periods in maintaining compliance.
After the initial evaluation and baseline analysis, we provide continuous tracking and periodic reports for all employees, including new hires and variable-hour staff. These reports help organizations adjust hours and maintain compliance under the ACA.
