Equifax Workforce Solutions ACA Management Platform Now Covers Over 6.7 Million Employees
Company Reaches Major Milestone, Announces Latest Enhancements to Award-winning Affordable Care Act Compliance Management Solution
ST. LOUIS, Sept. 24, 2014 (GLOBE NEWSWIRE) -- Equifax Workforce Solutions, a leader in human resource, analytics and verification services, today announced that its award-winning Affordable Care Act (ACA) Management Platform, an advanced, integrated solution enabling organizations to automate their activities surrounding the ACA lifecycle and reduce compliance risk, has reached a new milestone. The solution is now used by more than 225 organizations, representing the management of ACA compliance for over 6.7 million employees.
Winner of a 2013 Human Resource Executive Top Products Award and a 2014 Ventana Research Technology Innovation Award, Equifax Workforce Solutions ACA Management Platform was designed to take the guesswork out of ACA requirements. This unique technology helps organizations make well-informed decisions about their workforces with features that enable them to track employee eligibility, model costs and risks, manage compliance and reporting, and adapt to additional changes as new provisions are rolled out.
"Equifax Workforce Solutions is committed to delivering robust technology that helps employers navigate the most complex requirements, such as those introduced by the ACA, and recognize opportunities to positively impact their bottom lines," said Mike Psenka, senior vice president, Workforce Analytics of Equifax Workforce Solutions. "Our ACA Management Platform is a comprehensive solution that helps employers contend with the law's intricacies and manage those changes with confidence, while automating processes, reducing risks and maintaining compliance. We are incredibly proud that the solution is now used to manage more than 6.7 million workers, and we expect that number to keep growing as more employers recognize the value, efficiency and powerful insight that it delivers."
Through partnerships with government agencies and legal experts, Equifax Workforce Solutions is equipped with the most thorough and current knowledge of the latest ACA provisions. As a result, the company continually updates and fine-tunes the ACA Management Platform to provide employers with a solution that facilitates the ongoing management of ACA requirements.
Effective January 2015, employers must start capturing a monthly snapshot of each employee's full-time/part-time status, details on whether or not the employee was offered coverage, and proof that the coverage offered was affordable. This information, which will be used to enforce the individual and employer mandates, must be submitted to employees and the IRS in early 2016. With its latest enhancements designed to account for these new IRS reporting requirements, ACA Management Platform can prepare such reports for employers, thereby reducing administrative burden, associated costs and compliance risks.
"I couldn't be more pleased with the delivery of this solution [the ACA Management Platform] to Caesars Entertainment…I sleep well at night knowing we are well prepared," said Ken Janssen, Corporate Director, Human Resources and Total Service Analytics, Caesars Entertainment.
Equifax Workforce Solutions will be exhibiting the ACA Management Platform at the 2014 HR Technology Conference & Expo at Booth No. 1735, providing attendees with product demonstrations and showcasing the solution's cutting-edge features. In addition, the company will present the session, "Whole Foods Market Takes a Fresh Technology Approach to Navigating the ACA," to show how the solution is helping Whole Foods address its unique ACA needs and prepare for 2015.
Additional information about Equifax Workforce Solutions ACA Management Platform can be accessed at: www.equifaxworkforce.com/aca.
About Equifax, Inc.
Equifax (NYSE:EFX) is a global leader in consumer, commercial and workforce information solutions that provide businesses of all sizes and consumers with insight and information they can trust. Equifax organizes and assimilates data on more than 600 million consumers and 81 million businesses worldwide. The company's significant investments in differentiated data, its expertise in advanced analytics to explore and develop new multi-source data solutions, and its leading-edge proprietary technology enable it to create and deliver unparalleled customized insights that enrich both the performance of businesses and the lives of consumers. Equifax Workforce Solutions (also known as TALX), an Equifax business unit, is a leading provider of human resource, data, analytics and verification services.
Headquartered in Atlanta, Equifax operates or has investments in 19 countries and is a member of Standard & Poor's (S&P) 500® Index. Its common stock is traded on the New York Stock Exchange (NYSE) under the symbol EFX. In 2013, Equifax was named a Bloomberg BusinessWeek Top 50 company, was #3 in Fortune's Most Admired list in its category, and was named to InfoWeek 500 as well as the FinTech 100. For more information, please visit www.equifaxworkforce.com or www.equifax.com.
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CONTACT: 550 Peachtree Street, N.W.
Atlanta, Georgia 30309
Pam Stevens
Equifax Workforce Solutions
(314) 214-7235
Pam.stevens@equifax.com
Released September 24, 2014