Infor Helps Healthcare Organizations to Comply with Affordable Care Act Regulations
Infor, a leading provider of beautiful business applications specialized by industry and built for the cloud, today announced the availability of the next generation of Infor Human Resource Management (HRM) Benefits Administration. This version, with the Affordable Care Act (ACA) enhancement, is designed to help customers better comply with changing regulations via the Infor module, delivering tools for organizations to track benefits-eligible employees, collect benefit offers, and produce the IRS-mandated information reporting required by IRC Sections 6055 and 6056.
Infor HRM helps organizations more effectively manage the human resources function and streamline payroll operations with core HR, benefits, and payroll capabilities. The most current release adds features to the Benefits Year End Process module to help produce the mandated Forms 1095-C and 1095-B required for employees that are offered benefits and related IRS reports. Additional enhancements to HRM Payroll and Employee & Manager Self Service (EMSS) are expected to be available in late 2015.
Specifically, ACA requirements that version 9.0.1.x-10.0.x addresses includes allowing users to:
- Track paid and nonpaid hours for ACA full-time assessment reporting.
- Keep a record of the measurement period(s) for each employee to support why a benefit offer was made to one employee and not another.
- Categorize each health benefit plan by insured or self-insured, type of coverage provided, employee option in that plan with the MEC and MVC, and the safe harbor code that applies.
- Collect and store all health benefit offers made to employees (accepted or not accepted) for mandated reporting and to provide backup documentation to deter IRS penalty inquires.
- Track spouse and dependents associated with the benefit election that the employee made.
"The regulatory landscape of the healthcare industry is in constant flux. It's important for leading healthcare organizations to partner with technology vendors that can help prepare for, and manage, new requirements, such as the Affordable Care Act (ACA)," said Charles Cagle, senior vice president, HCM Operations, Infor. "At Infor, we're continually listening and enhancing our solutions and systems to prepare for upcoming compliance deadlines and the future needs of the industry."
For more information visit: go.infor.com/aca/.
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