OKLAHOMA CITY, Okla., Oct. 16, 2013 (SEND2PRESS NEWSWIRE) — American Fidelity Administrative Services, LLC (AFAS), the recent addition to the American Fidelity family of companies and established in response to great demand from American Fidelity Assurance Company’s (AFA) customers, now offers a tool to assist employers with the complicated Health Care Reform law that requires employers to track employee hours constantly to determine their eligibility for health care coverage.
“We are finding that many employers are under the assumption that this is a once-and-done type of activity, when in fact, it involves having to monitor and manage eligibility constantly. This is particularly challenging if an employer’s workforce includes employees whose hours vary from week to week, like a substitute teacher or nurse,” said Susan Relland, vice president of AFAS.
Large employers (with 50 plus full-time equivalent employees) that fail to offer adequate and affordable coverage to all full-time employees could trigger a Free Rider Penalty. This requires employers to know who their full-time employees are and how many of them are eligible for coverage during any given month. AFAS has partnered with WorxTime, a leading-edge eligibility management system, to offer employers a solution for tracking hours and managing eligibility in connection with the Free Rider Penalty.
WorxTime monitors employee hours in real time and sends automated alerts to the employer when action is required. It also offers several other features, including calculating whether an employee will be considered full time; providing affordability testing, rate of pay safe harbor testing and a penalty calculator; and capturing information that will need to be reported to the IRS. AFAS is currently offering WorxTime at a discounted rate to customers, and customers who sign up by Jan. 1, 2014, will receive two free months of WorxTime. Anyone interested in learning more may sign up for a free webinar offered on Oct. 30 and Nov. 14, 2013.
“Our goal is to provide an end-to-end solution for employers to help them deal with the ongoing challenges created by Health Care Reform. Our suite of services and consulting assistance can relieve the administrative burden for employers as they navigate the developing law,” said Relland.
“American Fidelity’s timely, informative and accurate information in the ever-changing world of Health Care Reform is critical business intelligence for U.S. school systems. American Fidelity has identified both the challenges and opportunities school districts will be presented with to be in compliance with the Affordable Care Act, and they are unmatched in the delivery of that information,” said John D. Musso, executive director of the Association of School Business Officials International.
AFAS is already providing health and welfare benefit plan consulting and a variety of other services in light of Health Care Reform to employers across the U.S. AFAS consultants are located in California, Washington D.C., Indiana, Colorado and Oklahoma and are available to provide consulting on retainer and keep employers on top of the changing Health Care Reform rules. AFAS can also provide assistance with certain administrative requirements such as variable hour employee billing which eliminates the hassle of billing and collecting insurance premiums from variable hour employees whose required premium contributions may exceed their pay for certain payroll periods.
About American Fidelity Administrative Services, LLC:
AFAS provides employee benefits support services for employers and specializes in Health Care Reform solutions. AFAS is staffed with professionals who have extensive experience providing benefit plan consulting, legal, actuarial and compliance review services for both large and small employers. The goal of AFAS is to deliver a broad range of solutions to help our customers save time and money in connection with their health and welfare benefit plans. More information can be found at http://americanfidelityconsulting.com/ .
About American Fidelity Assurance Company:
American Fidelity Assurance Company is a third-generation, family-owned organization providing insurance products and financial services to education employees, trade association members and companies throughout the United States and across the globe. Founded in 1960, it has grown to become one of the largest private, family-owned life and health insurance companies in the United States. Headquartered in Oklahoma City, American Fidelity has more than 1,500 employees in 26 locations across the nation. American Fidelity has been included on FORTUNE magazine’s “100 Best Companies to Work for in America” nine times. It was named to Computerworld magazine’s list of the “Best Places to Work in IT,” ranking number one in 2005. Since 1982, American Fidelity has been rated “A+” (Superior) by A.M. Best Company, one of the nation’s leading insurance rating services.
More information: http://www.americanfidelity.com/ .
NEWS SOURCE: American Fidelity Assurance Company :: This press release was issued on behalf of the news source (who is solely responsible for its accuracy) by Send2Press® Newswire, a service of Neotrope®.
