Press Releases

SyncStream’s New ACA Audit Tool

SyncStream’s New ACA Audit Tool Takes the Guesswork Out of IRS Penalties

NEW ORLEANS—April 24, 2018—SyncStream Solutions today introduced ACA Audit, the first Affordable Care Act (ACA) compliance tool that helps organizations and their advisors anticipate and respond to IRS audits around ACA reporting. ACA Audit works as an extension of SyncStream’s ACA reporting tools or as a standalone product that analyzes past filings and automates customizable IRS response letters to aid employers as well as brokers, CPAs, attorneys, consultants, and other trusted advisors.

When the IRS finds an applicable large employer (ALE) in violation of the ACA’s requirements, the ALE is issued Letter 226-J, which outlines penalties and fines for noncompliance and gives the ALE 30 days to respond. Whether the issue is improper filing, failing to furnish 1095-C forms to eligible employees, or not offering health care coverage that meets the affordability standard or minimum essential coverage requirements, employers must comb through their data to determine whether they agree or disagree with the penalty and draft a letter in response.

ACA Audit automates that process for employers, HR professionals, brokers, CPAs, attorneys, and consultants for any possible ACA penalties long before they receive Letter 226-J, or when the letter is received and the employer needs to submit a response. Using SyncStream’s proprietary business logic, ACA Audit will analyze and flag any potential liability on each 1095-C form for any filing year, estimate 4980H(a) and 4980H(b) penalties, and produce a comprehensive ACA Liability Assessment Report.

“ACA Audit is the first solution of its kind,” said Arthur Tacchino, Chief Innovation Officer of SyncStream. “It runs a myriad of different logic statements based on our comprehensive knowledge of the health law and its forms to identify vulnerabilities in an employer’s IRS filings. It not only flags blatant errors, but also clerical issues, like missing social security numbers or too many indicator codes on a single form. ACA Audit provides employers with the insight to anticipate any potential violations and prepares them to mitigate any future fines.”

Non-compliance with the ACA can be quite costly for an ALE. For 2015 reporting, an employer could face a monthly fine of $173.33 for each ACA full-time employee that was not offered coverage. If the employer had 100 full-time employees this fine could amount to an annual penalty of $145,598.

ACA Audit is available for both new and existing SyncStream customers. It can be used as a standalone solution that imports filing data, or in conjunction with SyncStream’s other ACA reporting tools, which can pre-populate data into ACA Audit. For more information on ACA Audit, visit https://sync-stream.com/solutions/aca-audit.

About SyncStream Solutions

SyncStream builds intelligent, intuitive solutions that help employers and their trusted advisors comply with the most complex regulations, from the ACA to EEO-1. SyncStream’s compliance solutions marry existing employer payroll and HR data with proprietary analytics to accurately fulfill legislative requirements and provide the assurance of auditability.

A woman-owned business, SyncStream is the result of some 100 combined years of employee benefits, health care, legal, regulatory, education, and technology experience, and has successfully fulfilled over 2.5 million employee forms and served more than 10,000 customers with well over 90 percent accuracy. Visit www.sync-stream.com for more information.

Contact

Gregory FCA
Denise DiMeglio, 610-228-2102
This email address is being protected from spambots. You need JavaScript enabled to view it.

SyncStream Named One of the Best Entrepreneurial Companies by Entrepreneur Magazine

SyncStream Solutions Named One of the Best Entrepreneurial Companies in America by Entrepreneur Magazine’s Entrepreneur360™ List

NEW ORLEANS—January 23, 2018—SyncStream Solutions, a company specializing in compliance solutions for the Affordable Care Act (ACA) and EEOC reporting regulations, placed 66th on Entrepreneur magazine’s Entrepreneur360™ list for 2018. The list recognizes entrepreneurial businesses that are mastering the art and science of growth, and ranks them based on impact, innovation, growth, and leadership.

“This past year has been especially challenging for businesses, with seemingly every month bringing new or proposed changes to the ACA,” said Cindy Heine, President and Co-Founder of SyncStream Solutions. “I’m incredibly proud of SyncStream for its ability to continually innovate and help customers navigate their compliance obligations amid this turmoil. While other organizations may have thrown in the towel, our team found new opportunities to deliver value to our customers.”

In 2017, SyncStream supported partners’ and customers’ reporting and compliance needs with new solutions and licensing models. Its new EEO-1 reporting software helps organizations track wages and hours based on employee gender and race, and its Benefits Analysis Toolkit helps HR and benefits advisors calculate and forecast the impact of employer benefit offerings on a company’s bottom line. SyncStream also provided regular webinars to keep businesses informed about potential changes to the laws.

The Entrepreneur 360™ ranking delivers the most comprehensive analysis of private companies in America. This study forged by Entrepreneur, has been designed to provide a multidimensional view of entrepreneurship today, recognizing well-rounded, privately-held companies based on their impact, innovation, growth and leadership.

“The Entrepreneur 360 List celebrates outstanding companies for the value they bring to the world, not just the worth of their company,” says Bill Shaw, president of Entrepreneur Media, Inc. “The companies on this list exemplify growth, not just in top and bottom line, but in their ability to create a superior value for their customers, build adaptive learning cultures, and drive innovation in their marketplace.”

This recognition from Entrepreneur magazine comes on the heels SyncStream’s selection as a Great Place to Work.

For more information about SyncStream Solutions, visit www.sync-stream.com.

About SyncStream Solutions

SyncStream builds intelligent, intuitive solutions that help employers and their trusted advisors comply with the most complex regulations, from the ACA to EEO-1. SyncStream’s compliance solutions marry existing employer payroll and HR data with proprietary analytics to accurately fulfill legislative requirements and provide the assurance of auditability.

A woman-owned, WBE-certified business, SyncStream is the result of some 100 combined years of employee benefits, health care, legal, regulatory, education, and technology experience, and has successfully fulfilled over 2 million employee forms and served more than 10,000 customers with well over 90 percent accuracy. Visit www.sync-stream.com for more information.

SyncStream Certified by Women’s Business Enterprise National Council

NEW ORLEANS—November 10, 2017—SyncStream Solutions, a company specializing in compliance solutions for Affordable Care Act (ACA) and EEOC reporting requirements, has been certified as a Women’s Business Enterprise (WBE) through the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of businesses owned and operated by women in the U.S.

SyncStream Solutions was founded in June 2013 to help employers meet the requirements of emerging health care legislation, specifically the Affordable Care Act (ACA). The company has developed a set of proprietary ACA reporting and ACA compliance solutions. Since the company’s inception, President Cindy Heine and her team have grown SyncStream to nearly 30 employees and almost 10,000 customers, and have expanded the company’s offerings to address other tricky compliance issues, like EEO-1 reporting.

“We’re extremely proud of our company’s heritage, but for us, being woman-owned has always just been business as usual,” said Cindy Heine, President of SyncStream Solutions. “To be formally recognized by the WBENC for our female leadership is an honor that cements our ability to help employers support diverse businesses while enabling them to navigate and comply with the most complex regulations.”

WBENC’s national standard of certification implemented by the Women's Business Enterprise Council South is a meticulous process including an in-depth review of the business and site inspection. The certification process is designed to confirm the business is at least 51% owned, operated and controlled by a woman or women.

By including women-owned businesses among their suppliers, corporations and government agencies demonstrate their commitment to fostering diversity and the continued development of their supplier diversity programs.

To learn more about SyncStream Solutions, please visit www.sync-stream.com.

About SyncStream Solutions

SyncStream builds intelligent, intuitive solutions that help employers and their trusted advisors comply with the most complex regulations, from the ACA to EEO-1. SyncStream’s compliance solutions marry existing employer payroll and HR data with proprietary analytics to accurately fulfill legislative requirements and provide the assurance of auditability.

A woman-owned, WBE-certified business, SyncStream is the result of some 100 combined years of employee benefits, health care, legal, regulatory, education, and technology experience, and has successfully fulfilled over 2 million employee forms and served more than 10,000 customers with well over 90 percent accuracy. Visit www.sync-stream.com for more information.

About WBENC
Founded in 1997, WBENC is the nation’s leader in women’s business development and the leading third-party certifier of businesses owned and operated by women, with more than 13,000 certified Women’s Business Enterprises, 14 national Regional Partner Organizations, and over 300 Corporate Members. More than 1,000 corporations representing America’s most prestigious brands as well as many states, cities, and other entities accept WBENC Certification. For more information, visit www.wbenc.org.

SyncStream Announces Benefits Analysis Toolkit

New toolkit provides projection tools and other easy-to-use modules that increase the value of benefits consultants, CPAs, and HR advisors

NEW ORLEANS—November 1, 2017—SyncStream Solutions today launched its Benefits Analysis Toolkit, which offers benefits brokers, CPAs, and HR consultants a way to become more efficient, accurate partners to their clients. Built specifically to meet the changing needs of HR and benefits advisors, the toolkit will assist them in calculating and forecasting the effect of all benefit offerings on a company’s bottom line by incorporating employer contribution, taxes, penalties, and potential employee turnover into one easy-to-read report.

The Benefits Analysis Toolkit automates calculations to save consultants from tedious, time-consuming manual equations and the human error that accompanies them, making these consultants a more valued and trusted source for their clients, and giving clients a more accurate forecast in a side-by-side breakdown of the benefits options they’re considering.

Employers answer a number of simple questions about their current benefits, the cost of these benefits, and any potential changes they are interested in making. The toolkit then calculates the impact of these benefits on a company’s spending based on their current habits, and any potential changes they are interested in, for up to three years. The toolkit can also be periodically updated with current enrollment numbers for more accurate readings.

Beyond the calculations, the toolkit offers a number of additional modules pertaining to the Affordable Care Act (ACA), a notoriously tricky compliance issue for employers that often requires assistance. These modules include Cadillac tax information and helpful insight into choosing your tracking periods. Each piece of the toolkit is well designed and easy to navigate, lending itself to improved communication between client and broker.

“As employers evaluate health care and other benefits options to comply with the ACA and attract qualified employees, it’s important for their advisors to be able to accurately predict the cost of the benefits they recommend,” said Arthur Tacchino, Chief Innovation Officer of SyncStream. “The Benefits Analysis Toolkit gives benefits brokers, CPAs, and HR consultants—especially those without the advantage of in-house technology—an array of tools they can use to put themselves ahead of the competition and engage their clients.”

The Benefits Analysis Toolkit, which can be used for an unlimited number of clients and reports, is available November 8.

About SyncStream Solutions

SyncStream builds intelligent, intuitive solutions that help employers and their trusted advisors comply with the most complex regulations, from the ACA to EEO-1. SyncStream’s compliance solutions marry existing employer payroll and HR data with proprietary analytics to accurately fulfill legislative requirements and provide the assurance of auditability.

A woman-owned business, SyncStream is the result of some 100 combined years of employee benefits, health care, legal, regulatory, education, and technology experience, and has successfully fulfilled over 2 million employee forms and served more than 10,000 customers with well over 90 percent accuracy. Visit www.sync-stream.com for more information.

Contact

Gregory FCA

Denise DiMeglio, 610-228-2102

This email address is being protected from spambots. You need JavaScript enabled to view it.

http://www.businesswire.com/news/home/20171101005638/en

SyncStream Unveils EEO-1 Comply, First Solution to Streamline EEO-1 Reporting

Intelligent solutions provider expands its offerings to help businesses comply with new EEOC requirements

NEW ORLEANS--(BUSINESS WIRE)--Expanded EEO-1 reporting will require employers to manage yet another sneakily hard compliance challenge to ensure fair working practices. To help businesses complete the extended gender- and race-based reporting requirements set by the Equal Employment Opportunity Commission (EEOC), SyncStream Solutions has released EEO-1 Comply, the first intelligent solution for EEO-1 compliance reporting.

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SyncStream Offers Month-to-Month Solutions for Evolving ACA Requirements

NEW ORLEANS--()--As the Affordable Care Act changes under a new administration, businesses will need a service that can keep up with their evolving needs. To this end, SyncStream Solutions has begun offering monthly subscription options for its ACA solutions. Last year, more than 10,000 employers trusted SyncStream to fulfill over 1 million 1095-Cs with over 98 percent accuracy. This year, the company’s tracking and reporting solutions are available with even greater flexibility.

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SyncStream Closes Gap Between Payroll, Benefits and ACA with New ACA Compliance and Reporting Solutions

Solutions provide full auditability for employers, consultants, and trusted advisors

October 13, 2016 09:00 AM Eastern Daylight Time

NEW ORLEANS--(BUSINESS WIRE)--ACA compliance is a sneakily hard undertaking for the millions of employers that, for the first time, will have to fulfill and file accurate forms to employees and the IRS by January 31, or be subject to a multitude of costly penalties. The complexity of ACA regulation and the nuances of the reporting obligations make it impossible for most companies to achieve compliance by forcing them to draw from disparate employee payroll and benefits data sources.

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