PeopleSoft continuously provides our customers with new product enhancements and functionality. Some of the most important functionality that we deliver is to support legislative requirements. Staying in compliance is essential. Often times there are huge penalties for non-compliance. That makes the functionality we deliver even more important. A recent legislative enhancement that PeopleSoft delivered was functionality to support the Employer Shared Responsibility required by the Affordable Care Act (ACA). The brand new functionality was designed to support the requirements for the Applicable Large Employer (1094-C and 1095-C) reporting. This new feature includes functionality in Human Resources, Time and Labor, eBenefits, Base Benefits and Benefits Administration.
The PeopleSoft ACA solution contains but is not limited to:
- ACA Employee Eligibility Page to store ACA information at employee level.
- The ability to update the employees ACA Eligibility Status automatically at the time of hire.
- Delivery of the ACA Eligibility Status as a benefit eligibility rule in the Benefits Administration product.
- The ability to update employee information quickly and easily using an Excel spreadsheet.
- PeopleSoft Time and Labor queries and analytic reports to help track employee’s hours.
- Provides the ability to extract the PeopleSoft data that is necessary for the 1094-C and 1095-C reporting.
- The capability to load data from third party sources outside of PeopleSoft.
- The ability to merge the PeopleSoft data with data from third party sources.
- Online pages to view or manually override the data.
- History of the changes for audit purposes.
- The ability to process the 1095-C form both in preliminary and final mode.
- Administrator view of the 1095-C form online.
- Ability for the Employee to grant or withdraw consent to receive their Form 1095-C electronically using Employee Self Service.
- The ability to print the 1095-C forms effortlessly using XMLP PDF process.
- Provides functionality to create the IRS XML Form Data File and IRS Manifest File.
- Offers the Benefits Administrator tools/process to support their IRS AATS communication test.
- Furnishes the Benefits Administrator with a reissue process for when employees receive the 1095-C form and a change needs to be made prior to submitting the files with the IRS.
PeopleSoft is currently working on the IRS correction/void/replacement process functionality. Additional functionality will be delivered as the legislative requirements are defined and as they evolve in the coming years.
The Affordable Care Act is a huge complex initiative. The required data is not always in one location. That is why PeopleSoft has built this new feature to be not only flexible but functionally complete. This allows customers to execute the required IRS reporting with ease. Please see My Oracle Support Document ID 2013421.2 for more information.