Simplify the largest tax reporting obligation to face health insurers and large employers since the W-2.
Sovos reduces errors – and the significant amount of time spent correcting them – and increases productivity in compliance with the Affordable Care Act (ACA).
ACA requirements have presented a whole new set of tax reporting obligations for health insurers and large employers. In fact, when Sovos conducted a survey of 100 business leaders, over half reported spending 500+ hours per year on ACA compliance! What’s worse? More than half of those hours were spent addressing errors.
Failing to track and report sensitive data on time, with 100% accuracy can result in unhappy members, confused employees and stiff penalties that can quickly add up and create serious problems.
Don’t let ACA compliance overly burden IT staff or leave in-house HR resources spending hours on compliance. Sovos ACA Reporting cuts down on employees’ involvement in the compliance process with quick and simple transmittals, freeing up their time to focus on mission critical tasks.
Sovos ACA Reporting gives businesses the tools to successfully navigate this uncharted territory with industry-leading knowledge and resources. With the Sovos Intelligent Compliance Cloud, businesses can successfully report and transmit the necessary ACA filings that often leave companies facing fire drills as deadlines approach. Sovos ACA solution’s modern, user-friendly application helps easily generate the proper 1095 forms and transmit them to recipients and the IRS, adapting seamlessly to any last minute regulatory updates or additions.