Apex HCM is proud to expand their health compliance platform, ACA OnDemand, by offering state individual mandate reporting for New Jersey and Washington, D.C. applicable for tax year 2019 reporting. This offering provides our payroll service bureau partners the ability further service the compliance and reporting needs of their payroll clients hrtech news.
The new state individual mandate reporting requirements came into place as a direct result of the 2017 Tax Cuts and Jobs Act, which effectively eliminated the penalty for the individual mandate to purchase and carry qualifying health insurance. Without an incentive at the federal level for individuals to purchase insurance, states began to worry that insurance providers would exit their insurance markets. This has resulted in sates introducing their own individual mandate requirement hrtech.
“Obviously payroll is our heritage, but our continued focus in expanding human capital capabilities for our service bureaus and their clients are of paramount importance,” said Robert Digby, CEO Apex HCM.
With the individual mandate, comes employer reporting to individual states. As with many other reporting requirements, each state has their own standard of reporting format. Apex HCM is leading the industry in providing this reporting capability as a seamless supplement to the federal ACA OnDemand solution.
Vice President of Product Management, Wes Muschara on the product expansion, “Enabling our clients to not only comply with state and federal reporting requirements, but in a way to make compliance easier on them is a fundamental pillar of the value Apex delivers.”
Apex® HCM is a market leader in licensing cloud-based payroll and HR software technology , employee wellness and over 300 payroll service firms and vendors nationally use Apex’s technology as the core of their business foundation. Apex’s customizable, comprehensive suite of products and services include payroll, payroll tax, human capital management, applicant tracking and onboarding, time and attendance, reporting, manager and employee self-service, ACA compliance, mobile apps, workers’ compensation, payroll debit cards and other business management tools normally reserved for large enterprises, now available to any business size. Apex’s cutting-edge, cloud-based technology allows its customers to effectively compete feature-for-feature with larger established firms while dramatically improving their workforce productivity.