Orlando, FL – June 27, 2013 – PlanSource, a cloud-based, on-demand technology company that provides state-of-the-art benefits administration, exchange, payroll, and HRIS solutions to employers through its insurance carrier and broker partners, offers several important features in its PlanSource HRHQ platform that can help employers deal with the Patient Protection and Affordable Care Act (PPACA) and its resultant compliance requirements.
Relevant PlanSource HRHQ features include:
- Customizable Dashboard Reporting for Look Back Periods for employers with 50 or more full-time employees (or the equivalent), who are required to offer health coverage that meets certain minimum standards
- Integrated Form W-2 Reporting of healthcare costs for large employers
- Support for ‘Employer Shared Responsibility’ coverage calculations (often referred to as Play or Pay) via HRHQ’s dashboard reporting, which can be customized to show actual and projected earnings during a defined time period
- Integrated Medicare Tax Increase calculation – HRHQ updates and manages local, state and federal tax changes on a proactive basis for all clients
- Automatic Adjustment of Flexible Spending Account (FSA) Annual Limits – the PlanSource PLUS program offers an array of FSA plans, and our benefits platform ensures compliance to federal annual limits
- Support for electronic posting of a Summary Of Benefits And Coverage (SBC), which can be made available for view, download and print 24/7/365
- Employee Notice Of Exchange capability to meet 2013 requirements for notification of employees on the availability of public exchange options
- Automatic Enrollment options through HRHQ’s benefits platform, which allows for auto-enrollment (based on client-specific rules) into a health plan offered by the employer
“PlanSource is a leader in using technology for healthcare reform compliance,” said Dayne Williams, CEO of PlanSource. “Because so many PPACA requirements are tied directly with payroll and benefits administration, PlanSource HRHQ, with its integrated payroll, HRIS, and benefits administration functionality, is able to ease the burden on employers by acting as a single source for custom reporting and planning options that can help employers meet their obligations for PPACA compliance.”
PlanSource is a cloud-based, on-demand software provider that revolutionizes the way healthcare and employee benefits are bought, sold and managed with a comprehensive array of integrated services including benefits administration, decision support, payroll, and HRIS technology. PlanSource technology solutions are delivered through strategic insurance carriers, brokers and exchanges who partner with PlanSource in order to increase their retention rates, revenue, and the overall value they bring to their customers. To learn more about PlanSource, visit www.plansource.com.