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Last updated on April 24, 2014 at 6:45 EDT

Partnership With BenefitVault Gains AccountMate Clients a Central-Payment Solution for ObamaCare Without Administrative Costs

October 7, 2013

BenefitVault’s secure, online cloud-based solution eliminates expensive administration to employers and allows employees to manage their payment options directly.

Petaluma, California (PRWEB) October 07, 2013

AccountMate Software Corporation today announces an expanded vertical partnership with National Payment Corporation for a new online payment solution with BenefitVault for benefit options and automated payment processing including options for Patient Protection and the Affordable Care Act (or ObamaCare).

“This is an important time to address these insurance issues. Working with our Channel partners and their clients,” said David Dierke, CEO and President of AccountMate, “we want to help ensure that this process is as seamless as possible.”

BenefitVault is a patent-pending, on-line, payment solution that allows individual employees to shop and choose from any benefit product and have payments deducted from their paycheck — requiring no administration for employers or their staff. For employers this means no more payroll slots, escrowing employees’ money, SPD’s, renewals, file feeds and changes, ERISA plans, compliance issue, bill reconciliation, benefit administration, HIPAA liability and much more. BenefitVault removes employers out of the middle and does it all.

Without BenefitVault, employers will pay higher costs to administer and manage benefit options as ObamaCare requires.

“Companies will benefit from using BenefitVault by having all of their insurance coverage in one central, secure location. BenefitVault’s secure, online cloud-based solution eliminates expensive administration to employers and allows employees to manage their payment options directly, ensuring no lapse in coverage,” said Jim Hagen, Vice President of Sales, National Payment Corporation.

Under ObamaCare many employees will lose payroll deduction as an option to pay for their medical coverage and other company benefits. Many employers cannot afford the administrative costs and requirements associated with allowing payroll deductions for every product and every carrier selected by each employee on a daily, monthly and annual basis.

The Patient Protection and the Affordable Care Act, a bill signed into law to reform the health care industry by President Barack Obama on March 23, 2010, is designed to give more Americans access to affordable, quality health insurance and to reduce the growth in health care spending in the United States.

ObamaCare offers a number of new rights and protections, and in exchange, most Americans must obtain health coverage by 2014, get an exemption, or pay a fee.

About AccountMate

Founded in 1984, AccountMate develops and markets fully modifiable business accounting software. Systems range from single user versions to those that support hundreds of users simultaneously. AccountMate software is available for local installation or as SaaS. It is distributed exclusively through a worldwide channel of authorized solution providers. AccountMate can be reached at (800) 877-8896 or at http://www.accountmate.com.

For the original version on PRWeb visit: http://www.prweb.com/releases/2013/10/prweb11199180.htm


Source: prweb