Greatland, provider of W-2 and 1099 products, launched an early release of its Yearli Performance software for businesses to prepare for filing the new Forms 1095-C, required this year by the Affordable Care Act.
Greatland said the early release is in response to the high level of interest, questions and concerns heard from small to mid-sized businesses about the new requirement.
The information necessary to complete Form 1095-C, required for employers with 50 or more full-time employees, is typically storied in the employer’s payroll system but also includes HIPAA-protected benefits information usually found in the employer’s human resources software. The employers have to combine the information from these two regulated databases to import into the unfamiliar 1095-C form.
With an early release of Yearli Performance, the first time Greatland has launched an early product release before December, customers can preview the layout and functionality and import data or begin entering date for employees. Greatland also released a 1095-C import template to assist customers in setting up the data, by validating and formatting the data that is populated. While forms will not yet be eligible for filing, Greatland encourages customers to start the process.
The early release of Yearli Performance will also include the data entry and record-keeping feature for 1095-C, enabling customers to enter employer and employee data, including offer and coverage data for each individual employee.
“Given the high volume of questions we are receiving, we wanted to give our customers an early preview of ACA reporting, as it is an IRS requirement this year,” stated Greatland CEO Bob Nault. “We thought it best that our customers have access to efficient data importing capabilities and record-keeping features so they can prepare for the upcoming season. This way, businesses can experience the simple and effective Yearli Performance product prior to actual reporting.”
Access to the data import feature and sample 1095-C firm is available here.
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