Employer Guide & Glossary
EMPLOYEE COMMUNICATIONS
Regardless of legal obligations mandated by the EMPLOYER SHARED RESPONSIBILITY PROVISIONS of the ACA, health coverage is not only a major business investment, it is also more often than not, after salaries and wages, the most important benefit of work for employees within their Total Rewards.
Yet health cover can prove more of a burden to business than a success driver. It can all too often be a cause of confusion, frustration & headaches among employees too — the very people it should be recognizing, rewarding, helping to retain & motivating.
In short, clear, personalized, timely & accurate EMPLOYEE COMMUNICATIONS are absolutely key to the role of health cover in building a successful employer brand and in securing a full business return on every ALE’s investment in benefits.
- NOTE: INVESTMENT IN HEALTH. Health insurance expenditure is equivalent each year to over 18% of the US GDP. Or more than $5 trillion dollars. The questions for every employer: Is this major investment working hard for you and your business? Or just hard work?
HCMs, FORMs 1095-C & BEYOND
Data flows & integration lie at the heart of successful EMPLOYEE COMMUNICATIONS, and this includes making the most of another major business investment — your company’s HCM. Integration in this context means a 360 picture of each employee.
Employers sponsoring FULLY INSURED HEALTH PLANS, for example, need a comprehensive picture not only of their own company communications to individual employees, such as timely, accurate & personalized FORMs 1095-C. They need to consider all communications to employees from external plan providers too. Any errors or confusion about health and family well-being are particularly personal for employees and accordingly can prove particularly damaging when they go wrong.
An employer’s care and investment in people can all too easily fail through errors in data processing and operations, including EMPLOYEE COMMUNICATIONS.
As the leading ACA specialist, BENEFITSCAPE prides itself in understanding employer brands and EMPLOYEE COMMUNICATIONS as well as the technical complexities of ACA compliance.
That’s why BENEFITSCAPE intelligent ACA_RegTech has been developed not only to run smart diagnostics on the employer’s ACA reporting but to support timely and error-free EMPLOYEE COMMUNICATIONS too.
If you have questions about EMPLOYEE COMMUNICATIONS or any other aspect of ACA reporting & compliance, please contact BENEFITSCAPE. We provide best-in-class ACA COMPLIANCE SERVICES to 1000s of employers of all sizes, in all sectors, across all states, and on all major Payroll/HCM systems.