Being a Third Party Administrator, you have the responsibility of handling the mandated ACA compliance for your clients, including IRS reporting on each of your clients’ employees via the required 1094 and 1095 forms.
For year-end reporting of 1094 and 1095 forms, the IRS mandates electronic filing of ACA forms for those who file more than 250 forms. As a TPA, you would be able to easily cross this filing threshold and thus you need to choose electronic filing to report your clients 1094 & 1095 forms.
To e-file the 1094 and 1095 forms for your clients, you need to either develop an e-file solution or partner with providers who offer an e-file solution.
Developing an e-filing solution is costly and time-consuming, and oftentimes doesn’t provide you a way to conveniently bulk file and track the status of your clients. Additionally, between your clients and their employees, you are dealing with a high volume of incredibly sensitive confidential information and the need to be transparent when detailing your security practices.
Lastly, as a TPA it falls to you to mail copies to your clients' employees. A lot of other providers don’t guarantee postal mailing of large quantities of recipient copies.
Issues like these could result in losing potential clients, but what if we told you there was a way around all of it?
ACAwise offers you the possibility to extend your existing software or service by white-labeling its ACA reporting and year end e-filing services. Your company can resell ACAwise’s year-end e-filing solution in your own brand name, fully customized for your business, while ACAwise does all the tedious reporting.
The solution required for the majority of the third party providers that ACAwise can offer you through its white-labeling solution includes:
All the processes for developing and setting up a white-label account with ACAwise will be handled by ACAwise, save some minor customization decisions.
Contact us to learn about our white label solution.