A Rock Hill software company is launching a “one-stop solution” for businesses to track their compliance with the Affordable Care Act, and is allowing York County companies to try out their system for free.
Rock Hill’s SPAN Enterprises, with offices on East Main Street, is launching next month ACAwise.com, a website that promises to determine eligibility for the ACA, monitor compliance around the clock, and complete e-filing to the IRS when tax season rolls around.
“It’s all done in real time,” said Agie Sundaram, SPAN’s co-founder. “Rather than having people manually entering in an Excel spreadsheet, with this product, it seamlessly integrates with payroll.”
Currently, the program is in a beta launch and will be made available to the public by Oct. 15. Research and development began back in March for the website that aims to keep applicable large employers (ALE) alert to which of their employees qualify for coverage and what types of coverage can be offered.
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Features include payroll reporting, monthly/annual reporting, eligibility tracking, risk assessment and Cloud-based storage of company information.
Using the payroll information of a company, ACAwise can identify eligible employees, monitor benefit plans and manage them to ensure they comply with federal and state law requirements, including ACA, commonly referred to as Obamacare.
SPAN is looking to market directly to human resource directors, compliance consultants and accountants of large employers.
Sundaram is hoping to offer his services to businesses based in York County for free for the 2016 fiscal year. Interested businesses are asked to sign up by Dec. 15 by calling 704-954-8420.
For reporting due in 2017 for the 2016 FY, all businesses employing 50 or more full-time employees or equivalent are required to provide minimum essential health care coverage. Full-time employees are classified as those who work a minimum average of 30 hours per week.
Sundaram said he believes his company’s product stands up against that of competitors from larger markets, like New York City, Los Angeles or Austin.
“Here’s our chance,” he said. “Put our product in front of any other ACA product out there.”
Charles Hardy, director of training and development, said the software is a “one-stop solution” to meet ACA compliance requirements.
Large-scale employers can face stiff fines if they don’t provide coverage, he said, and the filing can often be difficult to do without a trained eye to catch mistakes.
SPAN is an authorized IRS e-file provider for relevant ACA forms 1094 and 1095. For companies that decide to continue the service after fiscal year 2016, SPAN charges a rate depending on how many employees the company employs.