5 Tips to Help You Avoid 2023 ACA Reporting Errors

ACA reporting season is on the horizon. For HR professionals, that means the momentous amount of work that comes with reporting as well as the pressure of doing it right. Complying with ACA reporting obligations can be complex, confusing, and time consuming, especially as new rules and regulations come into play.

Because of this, preparation and organization can make filing before deadlines more efficient and staying up to date with regulations more realistic. Going into 2023 ACA reporting, gaining any additional improvement to your operational efficiency could be a big win since failure to file complete and accurate forms by their respective deadlines can result in penalties that add up quickly.

To help get you started on the right foot going into 2023 ACA reporting, we have put together a short guide with tips to help you and your team be more effective and efficient. Along with including important deadlines, penalties, and regulations to know, we lay out our 5 steps to smoother 2023 ACA Reporting: 

1. Verify Your Data Is Accurate and Up-To-Date

2. Calculate Codes and Validate Forms 1094-C and 1095-C

3. Stay on Top of IRS Filing Rules, Deadlines, and Penalties

4. Identify and Adhere to State Laws and Deadlines

5. Follow a Consistent and Repeatable Process

Dig into this eBook 5 Steps to Smoother 2023 ACA Reporting, for more in depth information on how these steps can help you get and stay more organized throughout the season and beyond. 

We hope these steps help put you on the right track for a smooth season of 2023 ACA reporting. When your organization needs a better way to manage the complexities of healthcare reform, we’re here to help. Learn how we can help you solve your ACA management challenges.

The information provided is intended as general guidance and is not intended to convey any tax, benefits, or legal advice. For information pertaining to your company and its specific facts and needs, please consult your own tax advisor or legal counsel.  Equifax Workforce Solutions provides services that can help employers reduce their compliance risks. Details on our provision of these services and related support will be contained in your services agreement. Links to sources may be to third party sites. We have no control over and assume no responsibility for the content, privacy policies or practices of any third party sites or services.