Products September 21, 2015

PlanSource Enhances System to Provide Education and ACA Reporting

PlanSource enables employers to better comply with reporting requirements of the ACA, deliver a streamlined consumer experience and save administrative time and resources, the company says.
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PlanSource has launched a new product release, dubbed Kepler.

PlanSource notes that many employees find the numerous choices of health benefits plans and the specialized terms used to describe them hard to understand. Considering that insurance and benefits typically are among a family’s greatest expenses, PlanSource has made consumer education a top priority in the Kepler release.

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The release includes a fully redesigned and expanded library of videos that explain commonly used industry terms in easily understandable language. The videos help consumers make informed choices and also understand the importance of voluntary benefits such as short-term disability and accident insurance.

The short, animated videos are seamlessly integrated into the software and can be personalized depending on a user’s demographics, stage in life, family status and many other factors. Offered in English and Spanish, the videos are free and available for download on the PlanSource website. 

The Patient Protection and Affordable Care Act (ACA) includes numerous reporting requirements employers must comply with or risk being penalized. The Kepler release contains many new updates to simplify ACA compliance, including a feature that will let employers preview reports before they need to be formally submitted to the Internal Revenue Service (IRS). Another enhancement allows employees to download IRS form 1095-C instead of requiring employers to print the forms out, pack, and mail them to each employee.

Other features of the Kepler release are the addition of advanced human resources (HR) support and evidence of insurability (EOI) expiration capabilities. Advanced HR support is an outsourcing service for HR teams that need help with time-consuming activities such as dependent and life event verification, EOI processing, claims assistance and employee communications.

Similarly, the EOI expiration feature simplifies a cumbersome administration process in which employers must carefully track and update EOI applications. The EOI expiration feature in Kepler removes this administrative burden by allowing benefits that are pending EOI to automatically expire after a designated time specified by HR teams.

Detailed information about Kepler and other upcoming product releases can be found at www.plansource.com/release.
Products September 21, 2015

Sovos Offers Tool for ACA Reporting

Taxport ACA is designed for organizations with all types of employee populations.
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Sovos Compliance announced the availability of a new, more streamlined Taxport ACA, its most recent Patient Protection and Affordable Care Act (ACA) reporting solution.

Taxport ACA is a fully compliant and complete service that includes form distribution to recipients as well as Internal Revenue Service (IRS) electronic filing. It is designed for organizations of all types of employee populations.

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According to Sovos, the solution makes it easy to import data from any flat file in order to aggregate the reportable information from all an employer’s source systems and lines of business. The solution’s smart import tool will map and populate all the required fields into the required 1094 and 1095 forms.

Taxport ACA will read the data, highlight potential issues and allow editing in real-time. After the data is ready and has been compiled, the system provides a final review, form generation and mailing, as well as transmittal to the IRS ACA Information Returns (AIR) system electronically with the simple click of a button.

“We are fielding a steady stream of inquiries from organizations telling us that their internal plans, or other chosen providers, are not able to meet the required 2015-tax-year ACA reporting deadlines or requirements. We want large employers with 1094/1095 ACA reporting obligations to know that there is a solution in the market that can help them avoid potential penalties by helping them file on-time for this tax year,” says Andy Hovancik, CEO of Sovos Compliance.

For more information, visit: http://www.sovos.com.

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