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Affordable Care Act Employer Reporting: A Comprehensive Reporting Solution
Featuring PwC and Workday
Join the conversation
@PwCAdvisory | #WDAY @Workday
Speakers
Charlie J. YovinoPrincipal, Human Resource ServicesPwC
Cristina GoldtVP of Strategic Planning, HCMWorkday
Marlene ScholtzProduct Marketing ManagerWorkday
Cristina Goldt
VP of Strategic Planning, HCM
• ACA and Reporting Requirements• How the PwC Workday Relationship Can Help You• Common Challenges and Decisions• Workday Demonstration• ACA From Strategy to Execution• Why PwC and Workday• Q & A
Today’s Agenda
The Affordable Care Act
The Affordable Care Act requires applicable large employers:
• to file information returns with the IRS
• provide statements to their full-time employees about the health insurance coverage offered
The deadline for filing by mail is February 28.
The deadline for filing electronically is March 31.
PwC and Workday: Reinventing HR with the Cloud
PwC and Workday offer a technology-driven solution that helps transform the role of human capital and finance functions. Our Workday practice applies its combination of strategy through execution capabilities, platform technology expertise, and deep industry experience to address clients’ business challenges andissues.
PwC is a Platinum Partner with 250+ Workday-certified consultants
PwC has served clients for 160+ years. Our reputation lies in building lasting relationships with clients and focusing on delivering value
PwC has been a Workday partner for seven years.
157 countries in our PwC global delivery network
PwC serves clients in 16 industries and 26 sub-industries with strategy through execution capabilities
Kennedy Analysts rank PwC #1 the Healthcare , HR Transformation Consulting, Change Management & Human Capital Strategy
Charlie Yovino
Principal, Human Resource Services
PwC and Workday 9
What clients are facing
Some of the common challenges and decisions clients are facing include:
Identifying “full-time employees” under ACA rules
Gathering and aggregating data from disparate systems
Social Security Number collection/remediation/security
Administrative burdens surrounding a filing obligation with employees and the IRS
Delivery of forms to employees
Employers across industries have common questions and face similar challenges when it comes to ACA reporting and compliance.
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PwC and Workday 10
Key Data Elements for ACA reporting
1. Identification of ACA common law and full-time employees
2. Coverage offered (minimum value, minimum essential coverage, family coverage)
3. Employee contribution for lowest-cost plan
4. Affordability safe harbor
5. Waiting periods, measurement approach
6. Actual coverage provided to employees, dependents, retirees, COBRA beneficiaries
7. Employee and dependent Social Security Numbers
8. Full-time and total employee counts
9. Identification of other Applicable Large Employer members
ALE Member #1
ALE Member #2
ALE Member #4
Applicable Large Employer
Division A
Division B– ALE Member #3
PwC and Workday
New Reporting Penalties Increase Risks of Errors
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July legislation increased penalties for missing or incorrect filings:
Special relief for 2015
Avoid penalties; take the necessary steps to remain compliant
Old amount New amount
Penalty per failure to file an information return or furnish a payee statement $100 $250
Combined calendar year maximum penalty $1,500,000 $3,000,000
Penalty per failure to file/furnish when corrected within 30 days of required filing date $30 $50
Calendar year maximum when corrected within 30 days of required filing date $250,000 $500,000
Penalty per failure to file/furnish when corrected by August 1 $60 $100
Calendar year maximum when corrected by August 1 $500,000 $1,500,000
Penalty per failure to file/furnish in case of intentional disregard (no calendar year maximum applies) $250 $500
Product Demonstration
Marlene ScholtzProduct Marketing Manager
Charlie Yovino
Principal, Human Resource Services
PwC and Workday
Strategy through execution
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Confirm client’s business needs, current environment and improvement areas
Explore and develop solution design and testing strategy
Perform iterative solution development, prepare and execute test plans
Help client implementWorkday ACAsolution and execute training plan
.
Track and assess benefitsand support continuousimprovement
1 2 3 4 5
PwC can help your organization through your entire ACA reporting and filing journey
Strategy & Assessment
Design Construction Implementation Operation & Review
PwC and Workday 15
ACA Diagnostic
Survey business decisions to date through structured questionnaire, data request and facilitated discussions
Identify gapse.g. gap analysis related to aggregation and validation of data
Document decisions and processes
Assistance with addressing gaps and facilitating decisions underlying reporting
Identifying “full-time employees” under ACA rules
Tracking employee movements
Determining availability of “simplified” reporting
Minimum value and affordability
Waiting periods and “limited non-assessment periods”
Leverage leading practices and tools built from PwC’s experience in ACA reporting.
Getting your organization prepared
PwC and Workday 16
32ACA Reporting
Preparation and Fulfillment
PwC has extensive experience with existing information reporting filings to the IRS. We leverage this experience to help our clients successfully fulfill ACA reporting requirements.
With PwC, you can gain:
• Seamless data transfer from Workday to PwC's information reporting delivery center
• Access to PwC’s Onshore delivery center
• Access to PwC specialists for assistance with examinations by the IRS
• Onshore call center support for employee questions
• Ongoing support from PwC ACA subject matter specialists
Partnership: Why PwC and Workday?
Thank You
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