By ACA Team
Paragon Compliance is pleased to introduce our new Monthly Stability report. This report eliminates the need for the Initial Stability report (previously included in our Monthly Compliance Suite) and the Administrative Report, generally included at the end of the measurement period.
The Monthly Stability report shows which employees should maintain coverage over the Stability period as well as those employees who should be offered coverage within their Waiting or Admin periods during the reporting month. If the offer of coverage is rescinded or not offered within the Waiting or Admin periods, it may cause the ACA Offer of Coverage to fall below 95% which could result in costly penalties for your organization. For multi-EIN organizations, the report also shows when a transferred employee should be offered coverage due to the aggregation of hours worked across multiple EINs.
The following reports have been modified/streamlined:
- New Hire Report
- New Hire Offered Coverage Report
- Insured Under 120 Hours Report
- Data Related Notices Report
As a follow up to the release of our new and updated reports, we eliminated the New Hire Offer of Coverage report as the information presented in that report is covered under other reports in the suite.
Questions? Interested in becoming a Paragon client and having access to all these compliance reports and more? Contact us today!